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Toxic Avenger

11/02/10 4:28 PM

#6270 RE: maddawg1 #6269

Clearly they couldn't pay back anywhere near the total owed.
They could however liquidate all the assets and either pay everyone 5 cents on the dollar owed or give it all to the bankruptcy court to settle LW's debt with them.

Not saying they will or they must, just that it's a possibility, depending on what standing each creditor has.

I don't think the bankruptcy court cares whether liquidating the company generates $1.5 million or $50k, it will still help out the creditors of LW. I would think the only reason not to go after this sort of solution is if they were convinced that UC Hub was going to get more valuable in the future, which seems to me to be an unlikely conclusion for them to draw.

Again, all MHO.