I'm not sure what the issue is, the company went broke it got delisted the creditors did a deal with management whereby management would resurrect the company. Chapter 11 is a process where the ownership of a bankrupt company is transferred from shareholders to creditors. It's a creditor driven process, and they pay management handsomely for resurrecting the company. Would I be angry if I was a shareholder who lost their money, absolutely I would. Would I have any legal standing, no the company I invested in went broke and is now owned by the people who lent the company money. Even in Australia when a company goes broke creditors get first call on any remaining assets and shareholders are unlikely to get anything. Did management do well out of all this? Well as I said before we are living in an age where management generally do pretty well for themselves. If you don't like that, your argument is not with me it's with Capitalism.
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