RE:RE:RE:RE:RE:RE:Credit bidding and common shareholders
In general, the bidding process is controlled by a Court appointed independent Receiver Manager, likely the current Restructuring Officer. Be mindful that the Company has walked down this path recently in the last round of Strategic Alternative Process, i.e. don't expect a premium. The RM will conduct several rounds of bidding and will update the Court on a regular basis. This would indicate what the current fair market value of the assets. Then the Court would likely grant the approval to sell. The money goes down the food chain, secured creditors, fees to regulatory agents, legal advisors, bankers, accountants, RM, shareholder always the last. hopeful, we see some money. Corporate merger would be unlikely, too much hidden liabilities and burdens to take over. It is cleaner to buy assets. That's my guess.