Everyone has said that the bondholders were the key, and they finally asserted themselves. So they have cleared at least 100m in payments, and they still get the company back. This was a much better way to do it than going public, because then they could get sued. Instead, the current management will take that rap, and the original owners get it back after having been paid for it. Plus, they can throw their hands up and say, "but I didn't defraud the public" when in reality they created such a high debt and high interest rate that the new management had no choice but to raise public finds.
Well played - this Conru dude is a fucking genius. From Standford no less.
BTW I lurv being right
https://gfy.com/showpost.php?p=18627419&postcount=7