It is probably closer to $2 million of the net proceeds. Still only a partial recovery for them. Post bankruptcy service providers will be first, Maynbridge second and Comerica third...Mitsui will get little more than peanuts. Everyone else? ZERO.
As for "doesn't add up"...its either that or nothing.
Comerica may still recover additional funds through the Company's cash balances and receipts from the sale of inventory, after the bankruptcy service providers are paid. So it is very possible they will, in the end, recover more than any previous offer of settlement.
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