I'm not sure if we totally agree on my post or the legal meaning of that portion of the bankruptcy code. To me the code says that you can replace the BOD in order to get more "bargaining power".
That equity holders’ actions are motivated by a desire to seize more bargaining power in the negotiation of a plan of reorganization, however, does not constitute clear abuse, due to the relatively little power that equity holders are given in bankruptcy proceedings.
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