Xenophon, thanks for the reply. However, I was referring to this part of his post...
"and for all who want to know, a DIP financier does not necessary believe one way or the other about the future of the company. it is a business transaction with payment guaranteed by the bankruptcy laws of this country. even one of the bashers here could make money legitimately by offering to finance the ongoing business of this company or the demise and self destruction. either way, you will get paid and receive a profit for doing so."
I didn't see any mention that people who provide DIP financing could lose it all. I'm curious to know how is the payment guaranteed? Who guarantees it? The bankruptcy court? If so, does the bankruptcy court have money set aside to make sure they are repaid, or does the company (like SPNG) have to pay them? I agree with you that if SPNG accepts DIP financing, then blows the money and goes completely out of business, looks to me like the people that provided the DIP financing are out of luck.
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