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Civil War General

02/12/22 5:02 PM

#678410 RE: Large Green #678396

Kmart was different, in that the land assets were intentionally undervalued by the bond holders to cancel equity. Those land assets were not hidden in trusts, but part of the assets in the bankruptcy.
Equity was canceled.
The Court allowed the false valuation because those are the rules. (Appraisers got well paid?)

We are different in that there was enough value in the estate to give us stock and a little cash, but the bankruptcy remote assets were held in trusts and could not be attached because they were not released by the trustee to prevent the bankruptcy court from getting them.

Maybe now they can be released?