One would think the creditors/bondholders would approve the plan that offers them the best chance to get a ROI...as it appears the Chief Restructuring Officer has little chance of recouping the only asset the company had-the Nicosan license-it remains to be seen what he can offer them going forward...
and taking the short side in retrospect looks like a no brainer---especially knowing the equivalent of "Wrong Way Corrigan" was driving...