"...how a fire sale would be legal to benefit them, can you?..."
Put the mines into the market, ask the potential buyers for bidding while telling them that the mines must be sold or ask $1 for the mines, and then bong a deal is reached.
Is it legal? IMHO, it is. You own me money, legally I get the right of your flat for what you own me, now I am bored to hold your flat and hate to clean it every month if not every day, I prefer sell it at loss in the market, and no one could stop me!
Do you understand what is selling in the market? It is not about value but who would like to pay and how much both of seller and buyer accept. Of course you/me could manipulate which could be illegal/legal. Should it stop the illegal deal? It should but most of time it could not due to cost or carelessness! By the way, if you are criminal, you would commit criminal without matter how bad to others.
If the creditors bore to hold the mines, they have the legal right to sell on fire. There are always bargainers who search in the market!
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