Posted On: 05/12/2014 11:20:50 PM
Post# of 16816
Depends on whether one believes a clean shell, IP, databases and real assets are more valuable than 15B RIGH Common in its current state. I'm not going to go through where I believe the value is right now, but from my perspective Chapter 11 would be the best route.
Anyone acquiring RIGH's IP below fair market value today would be taking a huge risk that RIGH won't end up in Chapter 11 and having the transaction unwound. That means from the BCAP perspective it provides value at pennies on the dollar since the IP is discounted to BCAP as the creditor and overvalued to any prospective buyer.
IMO if there is a Chapter 11 motion, Mr. Stanz set it in motion 3 years ago when he was offered the opportunity to repay his debt but refused. That delayed BCAP's plans as Matt outlined in the recent update.
Anyone acquiring RIGH's IP below fair market value today would be taking a huge risk that RIGH won't end up in Chapter 11 and having the transaction unwound. That means from the BCAP perspective it provides value at pennies on the dollar since the IP is discounted to BCAP as the creditor and overvalued to any prospective buyer.
IMO if there is a Chapter 11 motion, Mr. Stanz set it in motion 3 years ago when he was offered the opportunity to repay his debt but refused. That delayed BCAP's plans as Matt outlined in the recent update.
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