Can we make this case label?

[William Davis]

Be clear I am not a attorney. My Bankruptcy experience is limited to collecting from defunct customers and how it works depends on a lot.

Generally the court appoints a trustee who is representing the creditors as a group trying to obtain the maximum. He’s just guy trying for the highest price and most times paid a percentage. He does have some deadlines and often late in the process assets go for pennies on the dollar. Other times the opposite. Anybody serious gets in touch and asks how he’s going to liquidate. Trustee will give you the details, that’s his job.

William

[Southpaw]

Originally Posted by William Davis

Be clear I am not a attorney. My Bankruptcy experience is limited to collecting from defunct customers and how it works depends on a lot.

Generally the court appoints a trustee who is representing the creditors as a group trying to obtain the maximum. He’s just guy trying for the highest price and most times paid a percentage. He does have some deadlines and often late in the process assets go for pennies on the dollar. Other times the opposite. Anybody serious gets in touch and asks how he’s going to liquidate. Trustee will give you the details, that’s his job.

William

I think you are correct in the process and had a recent client go through it and it went down as you described. I'm no attorney either.

Btw did do some research and seems Remington has $1 billion in debt and has delayed filing until Tuesday-ish of this week. They seek to eliminate $700 mil in debt, restructure and then reportedly sale after restructure if they get their way. They gambled miserably on black guns and a certain candidate winning to prompt panic buying. Believe that is liken to mortgaging your house and taking that debt to buy bitcoins.

BTW for any snowflakes watching this board, my sincere apology and condolences in advance to you if you find my analogy insulting or it hits to close to home.