/biz/ - Business & Finance

>>57939069
>the company is going to be reorganized in CH11 for the new controller
Then why did they describe their chapter 11 process as achieving the same goal as a chapter 7 liquidation (pic related)?
>That process takes time and although we would all like to know the outcome immediately
I think we know the outcome when there's almost no assets left, billions left in debt, and the shares literally don't even exist any more. This is in contrast to dogshit, where it still hypothetically possible for Cohen to buy billions of dollars worth of turds (as they are a thing that actually exists) and pump the price up.

>>57601206
This. I'm certain that all the shills laughing at me for investing in dogshit are secretly just mad because I got to the dog park before them. Every morning I make sure to scoop up all those treasures before they can get their greedy hands on them, I can't help but laugh at how I continually outwit them. They must feel like morons when they see me walk past with my hands full of stinking turds. They know that Ryan Cohen is going to pay out $10m per turd, and they're just going to have to sit and watch when I make it without them.
>>57605622
You cant, those shares no longer exist. Fortunately you can still do something more sensible with your money, like investing in dogshit.
>>57606069
Then why did the company describe their chapter 11 process as having substantially the same goal as a chapter 7 liquidation? Pic related.

>>56957033
I love how you idiots don't understand that this chapter 11 case is functionally equivalent to a chapter 7 liquidation, pic related.

>>56930211
>If I lose, I have another 40 years to make money. If I win, I retire.
>Either I won or I didn't. In the worst outcome, my life is exactly the same.
This, same reason I put my life savings into dogshit. If it doesn't work out, life stays the same, but if I'm right about the great turd squeeze I'm a billionaire. Based on that logic, I'd be a moron to not go all in on stinking turds.
>>56930390
>You don't know the difference between Chapter 11 and Chapter 7
It looks like you're the one who doesn't know the difference. Pic related, the company has described their chapter 11 process as being essentially a chapter 7 liquidation with slightly lower costs.
>Hertz buddy.
Hertz amended their plan and never actually went through with cancelling their shares. There is not one example of a company ever actually cancelling their shares (without declaring in advance that shareholders would get new equity), declaring shares to have no value, and then rewarding former shareholders anyway. It's an impossible scenario, as as a non equity owner you no longer have any legal tie to the company. Besides which, even had your shares not been canceled, the Hertz thing only happened because they had significant assets (used cars) that appreciated in value, whereas your former company has already sold off all of its assets.
>>56930739
>Buddy, anyone claiming to know with certainty is talking out their ass.
This. The people claiming that my pile of dogshit won't make me rich just because the city confiscated and incinerated it don't know what they're talking about. I made sure to get a receipt, and I don't see why someone wouldn't pay me a billion dollars for a piece of paper that says I used to own a pile of stinking turds.

>>56241952
>You can scream liquidation all you want but the company exists and has emerged from chapter 11.
Are you fucking retarded? The company has described its chapter 11 process as being the same as a chapter 7 liquidation with slightly lower fees (pic related). The company has been liquidated already, everything they could possibly sell has been sold. The company that remains has the sold purpose of managing the bankruptcy estate, it has no possible way of restructuring into a new functioning business (and even if it did, it's irrelevant, as your shares would not even represent equity in this new business).

>>56185759
>Ch11 is not ch7.
Pic related. The company have described their chapter 11 process as having the same results as chapter 7, with slightly lower costs. It is also described as a full liquidation of their assets.
>Plenty of people/corporations use bankruptcy protection and don’t get wiped out.
Can you name a single one who had already liquidated all their assets (including IP's, websites, stores and warehouses), still had billions in debt remaining, and didn't get wiped out? One example please.
>>56185720
>If something comes to light that materially changes the future value
This. All I need is for something to come to light that makes my dogshit worth millions, and I'm a millionaire. It's so simple, I'm surprised more people aren't investing in turds given the potential upside.

>>56144722
The plan states that it's a liquidation.