[Fox4paintball]

Originally Posted by tweeter4

They didn't go looking for this? What about knowingly selling your biggest product at near cost or even a loss for multiple years while your company hemorrhages money and accumulates massive liabilities? They did a classic grow and blow business method.

They accumulated massive debt in order to fund a huge and aggressive market expansion to essentially own the space, then they copped out on the debt, claimed bankruptcy, restructured, and kept all the assets and IP at pennies on the dollar while everyone else is left holding the bags.

It should be standard law practice that any and all debt solvencies require a total sale and dismantling of the business.

I mean, did anyone else even have the chance to bid or offer on the existing business? Or did the consultants in Italias pocket that were "managing" the transition of assets just give him the business for pennies?

I agree that's what it looks like for certain - but based on conversations I've had that is not exactly how it went down. I stand by my previous statements - they didn't go looking for this.

[tweeter4]

Originally Posted by Fox4paintball

I agree that's what it looks like for certain - but based on conversations I've had that is not exactly how it went down. I stand by my previous statements - they didn't go looking for this.

I still will disagree, no one leverages this much debt and liabilities without knowing that bankruptcy and reformation is the plan. Unless they are just total incompetent morons, thats what they were doing. Everyone does it in every industry.

[Paul77]

Originally Posted by tweeter4

I still will disagree, no one leverages this much debt and liabilities without knowing that bankruptcy and reformation is the plan. Unless they are just total incompetent morons, thats what they were doing. Everyone does it in every industry.

im with ya, $25 million isnt just a "my bad", thats a long term slide and everyone from the director level up should have been well aware of what was happening/mis management.

[p8ntball1o1]

The paintball mafia is at it again.