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Politics : The Obama - Clinton Disaster
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To: jlallen who wrote (26398)2/19/2010 12:52:01 PM
From: DuckTapeSunroof   of 103300
 
How so?

Granted that:

a) there are *numerous* creditors, with various levels of claims on the company's assets, and

b) the US *did* petition the court for, (and was granted), formal Debtor in Possession status by dint of it's injection of major new funding. (Whereas no other party, including other classes such as the bond holders, chose to step up to the table with new funding.... Only Uncle Sam offered to inject the funding required to enable the company to rapidly emerge from bankruptcy reorganization as a viable on-going enterprise.)

Absent a successful reorganization, if forced to the alternative of liquidation, it is highly unlikely that even as much value could have been delivered to many of the debt classes by auction of the various pieces....
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