Yes, and no. RCP and Star are wholly-owned subsidiaries. As such, they consolidate their assets and liabilities with the parent which means the total of assets and liabilities is correct. If those subsidiaries had positive assets, they would be owned by the Rock Creek common shareholders.
Both the parent and each subsidiary filed for bankruptcy. They are connected and separate at the same time. Especially if RCPI guaranteed some of the debts of RCP and Star, which is not uncommon.
But, it is really moot, as all filed for Chapter 7. Total liquidation, and even if the liabilities exceed the value of the assets by $1, much less over $20 million, there is no chance of any recovery by common shareholders.
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