They were screwed with the lenders. The lenders debt was not much compared to value of the company they shorted this stock to death refused to work with the company. Even the judge wasn't going to allow BK he felt the debt was low enough the lenders could work with them.
Once he saw this was not possible he agreed to the BK. I think they were going to drive this down and take over but it backfired. I can't even remember who they were but what they did to this company was terrible.
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