You see no similarities? The other company took out loans that they would not repay. The alleged creditor would then file a suit against the company. The company would use the suit as justification to dilute shares in order to raise money to settle the suit. The suit would be settled out of court and the money split between the parties involved.
The exact thing has happened here IMO, the only difference being that we do not know where the money went, as nobody has plead guilty yet.
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