daughterslaughter, I am surprised they actually showed it worth this much. Remember, the idea is to ensure they can show this bankrupt so they can zero out shareholders and issue new paper which is standard bk procedure. I highly doubt the company ran their accounts so low they have barely any cash to move forward. They do have 500 million in cash with 900 million approved bk financing as well.
My view, there is a better plan but a big part of their plan is to zero-out equity. Please research the Kmart and Sears mess where Kmart filed bk, zeroed our shareowners, kept the land off the record, exited bk process while purchasing Sears then issued new shares to Hedge Funds at $25.00 a share.
Then over the next 18 months when they valued the real estate back in each quarter while the stocked zoomed up to a high of $171.00 a share.
News 
Market Data 
Discover 
AI
