3 ms·
Considering reorganization under bankruptcy is not equivalent to going out of business.
by pxx 3y ago
Considering reorganization under bankruptcy is not equivalent to going out of business.
- deleted 3y ago[deleted]
- HWR_14 3y agoWhile true, it is equivalent to shareholders in that they get wiped out.
- no_wizard 3y agoI don't feel sorry for shareholders here. There are risks with all investments and its not as if Spirit mislead investors or acted fraudulently. Sometimes, investments go bad, thats the risk. We shouldn't prioritize shareholders over the general health of a marketplace
- HWR_14 3y agoBut it makes sense that with those alternatives shareholders would vote in favor of a buyout or a merger.
- squirrel6 3y agoThere’s not a lot of room for effective restructuring here — for Spirit it’s more of a revenue problem rather than just a debt service problem. They’d probably end up in Chapter 7 (liquidation) pretty soon after starting Chapter 11 proceedings