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One way to paper the file and do the compromise and write down of the LT debt is to do a Chapter 7 liquidation analysis. Give the lack of ANY profits since it was purchased, NOVC would be lucky to get $10m for HCS. That's the max recovery that the LT debt gets in a Chapter 7. Ergo, reduce the face amount of the debt to $20m. Easy peasy. You all are welcome. A Master of the Universe has spoken! And I actually live in the land of Oz! |
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Msg # | Subject | Author | Recs | Date Posted |
153488 | Re: One way to paper the file and do the compromise and write down and ZERO the common | bankbuyer | 1 | 1/18/2021 10:04:57 AM |
153499 | Re: One way to paper the file and do the compromise and write down | batman10023 | 3 | 1/18/2021 12:56:08 PM |