That says that the SECURED creditors do nott have a preference to the Intellectual Property because the IP is nott a secured interest (i.e., it is nott encumbered by a Secured creditor) and the portion of the sale that is for IP will then be used in the general pot to pay the UNSECURED and general creditors. WHO WILL ONLY GETT PARTIAL PAYMENT - pennies on the Dollar owed. The total price is already stated to be insufficient to meet all the CREDITOR claims.
Assume Holding Company..........Assume the SHELL IS SOLD....VALUE NOL 300 MILLION VALUE 40 MILLION CASH 15 MILLION BANK THIS IS REALPLUS BUILDING ASSETS VALUE REASONABLE OFFER IS 90 MILLION AND???? 150 MILLION MINIMUM