Moreover, bankruptcy is a lot cheaper than dealing with the claimants on an individual basis and imho a lot less work is involved. Just a matter of listing all the creditors and the amounts of their respective claims and the assets still owned by cbay. How do you convince a creditor he should take a penny on the dollar when he thinks there may be assets you are hiding. A bankruptcy filing assures him what assets exist.
Agreed, and have considered that. My take on his actions was to entice short selling. However he may be a Black Knight doing a raid to acquire cheap assets. Then again that was done prior to buying all those additional shares.
yes he showed his hand and within two weeks after that statement about flushing all common shares of cbay stock down the toliet he went and got a truck full 1.9 billion shares to put in his garage
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