Debt holders: Tails I win, heads you lose., page-2

Too late, the creditors own the company now, via the negotiations that gave them the company @ 2.3 cents per share.

I agree that the threat of liquidation SHOULD have been done back then, in order to get a better deal.

We all know what could, should and would are worth.

The issue is that back then the company was insolvent and agreed to a "bad" deal, which was still better than liquidation, however giving the company away without fighting for a better deal was very poor negotiation.

The creditors have lost nothing, now they are coming back through their appointed directors to get as much as they can.