So what you are saying is the only chance of selling a machine is to go into receivership and get a bankruptcy trustee to execute the sale of all assets?

LMFAO

Quote:

---

Bankruptcy is absolutely not an option for Plastic2Oil, Inc. In receivership, the creditors and debtors go to court and the courts appoints a bankruptcy trustee to execute the sale of assets and pay back creditors with the proceeds.

In Plastic2Oil's case, Mr. Hedde runs both side of the coin. He makes all decisions for the company (debtor) and can choose which creditors he wants to pay first (himself)...or he can choose to continue pay his own compensation and rack up more debt. Why would he want to shoot himself in the foot by filing for bankruptcy and having a third party decide??

---