3 ms·
It happens all the time. It just happens through the bankruptcy process, so we generally understand it as "company crashes down" even if their core business rem
by SpicyLemonZest 10mo ago
It happens all the time. It just happens through the bankruptcy process, so we generally understand it as "company crashes down" even if their core business remained healthy. Purdue, again, is a great recent example of this, although the state governments and other plaintiffs preferred to retain ownership in a trust rather than get cash by selling it to some marginally more responsible pharma company.
- mschuster91 10mo ago> It just happens through the bankruptcy process And that is fundamentally different in messaging to owners and boards than a court order explicitly stating "the government has seized this company because too many laws were violated too egregiously, the entire board is banned for 5-10 years from holding any other board position, the owners/shareholders will not be compensated". Bankruptcies and dissolutions happen all the time, they are a part of normal healthy capitalism. But explicit, no-nonsense, no-excuse seizures not.