Guess Mercuria is willing to take a slight haircut, at 20 cents per share, and PALA is holding out for a much bigger haircut, at higher than 30 cents minimum. So perhaps, the bankrupcy is a spat. Also gives seller leverage with buyer. If there is one, which would hope. If not, all is lost. Unless PALA really can dig out. Who knows?
So curious about the debt to PALA. Like some life insurance mystery. Automatically, assumed PALA is better off with equity. So would naturally side with equity holders. Have to look. Calculations should be pretty easy.
Also recall a third major stockholder from Tipranks, with some tropical island sounding name that no longer looks included. So presumably insiders are still up to 96% or 98% insider, or whatever is true. So hard to see how PALA does not end up getting squashed. Meanwhile, Mercuria looks pretty big, and doesn't look like they are in too deep. Or how much they have loaned company. Also, other third parties, like that other stockholder, or whomever.