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trader59

02/28/21 1:10 PM

#112536 RE: Real McCoy #112535

The company's insurer was also involved in the settlement. The company was not, since it had been shut down. The liquidation and shut down was cited by the shareholders' lawyer as a reason they were accepting the settlement from the other defendants. IIRC, that lawyer said they "literally had no cash to pay anything" after the liquidation and payout to the secured creditors who actually received a recovery.