View Single Post
  #3  
Unread January 20th, 2011, 08:37 PM
BBStoreMgr112233 BBStoreMgr112233 is offline
Senior Member
 
Join Date: Sep 2010
Posts: 409
Quote:
Originally Posted by JustTheFacts View Post
"It's pretty hard to say that this debtor is anything but insolvent," Lifland said, adding that he wondered to what lengths the company would need to go to continue operating beyond the three-month extension he had just awarded for the lease negotiations.
This isn't exactly breaking news. The fact the company is in BK shows it isn't solvent. If it was, it wouldn't be in BK.

The idiot share holders think the value of Blockbuster liquidated or sold is greater than its debt. This is really just a desperate attempt by share holders to get something for their stock because the current plan will wipe them out completely and give the company to the senior bond holders.

Furthermore, they believe Keyes and Ichan are in cahoots and this is an elaborate plan to hand Ichan controlling interest in the company. They believe there are buyers out there that would buy the company and its 1 billion in debt and this option has not been fully explored.

Lastly, I doubt a billionaire investor like Ichan is going to allow Blockbuster to not survive BK. He's invested a couple hundred million to make this happen and he will do what he needs to do to make sure Blockbuster gets through BK so he and his group can get ownership. Now after BK, anything is possible because then the company would actually be worth more than what he invested to get it, and it would be essentially debt free, which is yet another reason the current share holders are in such an uproar.