jack, attempting cloud the issue with unrelated facts like that they are not "bondholders", and that they "can't vote" on shareholder related matters is not going to work here.
Never once did I claim that they could vote on shareholder related issue, nor did I state they were bondholders. Nor do they matter as it relates to bankruptcy.
The Series J $18 million is DEBT. Here we go, business 101. If you can't pay a debt you either file bankruptcy or the debt holder files a involuntary BK for you.
That is REGARDLESS of whether they can vote. That is REGARDLESS of whether it is a bond or not.
The idea you present that bankruptcy is only caused by bond debt shows a lack of understanding of finance 101.
REPEAT, the series J holders as debt holders have EVERY LEGAL RIGHT TO FORCE NXXI into bankruptcy to recover assets in order to pay off the debt.
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