because it would tank to no bid and barely make a dent in their debt. besides, they have to maintain controlling interest in the company, so they couldn't issue all the remaining shares to debtholders, as that would give them controlling interest. msoa hands are tied. there are more dynamics to share structure than just issuing all the shares. you are simplifying something that actually requires to fit ratio calculations to manage all parties who own a piece of the company.
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