Counter-argument, moneylenders shouldn't loan money to companies doing this. And secured lenders have their protections. Anyways, they knew the game. Bankrupt

Counter-argument, moneylenders shouldn't loan money to companies doing this. And secured lenders have their protections. Anyways, they knew the game. Bankruptcy auctions are essentially debtors recouping as many of their costs as possible before writing off the rest (further minimizing future taxes).