Volume may be picking up due to certain investors having access to better information.
Only a creditors who could provide evidence of a claim were given a seat at the table. Once there, they were briefed on the progress of the liquidation, discussed reports and voted on the liquidators’ compensation plan.
If the story was good, some creditors would naturally want to begin building a preferred stake. I have no idea if there are any constraints to using the information legally. A lawyer would need to chime in.
Building a meaningful stake without moving prices requires patience especially when the security is trading pink or gray. I get frustrated on a regular basis as my bids at or above 52-week highs consistently get beat. Competition is good in one aspect - the investment slowly becomes worth more over time despite no news.
It should be noted that insurance company liquidations can take a very long time to resolve. I’m currently involved in two (PRSG and AICIQ).
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