It's an asset of the estate as deemed by the fact the case was reopened. The debts are obviously still valid by the fact of the case reopening for the last remaing asset, to be administered and sold for the benefit of the creditors. Holigan is not "getting" this shell, they were the catalyst to get the case reopened to be sure All assets were considered and sold to relieve creditor losses, which they are I believe the biggest creditor.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.