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If you're talking to me or reading my comment then you should care what I mean. Otherwise you're wasting your time. Obviously "loosely speaking" is not a legal
by wakawaka28 2y ago
If you're talking to me or reading my comment then you should care what I mean. Otherwise you're wasting your time.
Obviously "loosely speaking" is not a legal term but I'm sure there is one that means the same. I mean you need real money to buy things, not bad paper. Bankruptcy does not exist to deliver good feels to people, it exists to settle financial matters as objectively as possible.
- freejazz 2y agoRight. The debt owed to the creditors...
- wakawaka28 2y agoOne reason to have an actual auction is because the liquidation might more than cover the debt and leave the bankrupt person with excess cash. But that only happens if real cash is generated in a competitive liquidation process. The reasons why this backroom dealing stinks are plentiful...
- freejazz 2y agoThe actual cash is orders of magnitude less than what the creditors are entitled to... did you read the article?