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If feels sinister because the company didn't need to borrow money. A business that was adequately servicing investors, employees, and customers, has been destr
by ghostbrainalpha 7y ago
If feels sinister because the company didn't need to borrow money.
A business that was adequately servicing investors, employees, and customers, has been destroyed because a small group tried to extract more wealth from the company than it could sustain.
- nine_k 7y agoIt looks almost like fraud, an exploit using an edge condition. * Buy a working company. * Borrow a ton of money, siphon it out. * Bankrupt the company which is liquidated for much less than the amount borrowed. * The lenders are left holding the bag.