> Indeed, it sounds like the lender had a huge incentive: loan X, if default, gain 2X. I don't know the terms of the deal, but I very much doubt they had an i

> Indeed, it sounds like the lender had a huge incentive: loan X, if default, gain 2X. I don't know the terms of the deal, but I very much doubt they had an incentive to drive the company to bankruptcy. If the company were a prize, thet would have been picked up by someone else in bankruptcy. The fact that Comvest were 'undermining' other deals smells more to me like they were intent on preserving their place in the capital structure, and not having the value of any warrants they owned diluted. My understanding is that following the bankruptcy Comvest provided debtor-in-possession financing, and at the auction there was only one bidder.