(Total Views: 515)
Posted On: 07/24/2022 6:16:30 PM
Post# of 36541
Hylander, your last post got me thinking. Since Generex is a pure holding company and Generex is the company being put into Involuntary Chapter 7 because of the debt Generex owes, this could get far more complicated than what I have been posting about.
A very interesting read:
What Happens to a Subsidiary Company if the Parent Company Becomes Insolvent?
https://bizfluent.com/info-12328436-happens-s...lvent.html
NuGenerex is the PRIZE! It is also a self-contained corporation, just not officially publicly traded (NUGX doesn’t count). Generex is the target for liquidation due to the Chapter 7. Which means that the NGIO stock that Generex owns would have to be sold (liquidated). Whoever buys this stock would become the NuGenerex majority shareholder, just as Generex now is. With NuGenerex being a separate corporation, I don’t think that the creditors can force the trustee to liquidate the assets of NuGenerex piecemeal. But under the current climate of judicial shenanigans, who knows if outside forces could be exerted to ”bend” the codified law with money or other influences. Then again, maybe my thought process is completely erroneous.
As minority NGIO stockholders, we probably will have no say in the matter. But maybe we could have/get some value with our NuGenerex stock.
Maybe Oasis could be our “savior” by getting the NuGenerex IPO launched. It would be to their benefit. Then Generex could sell some NGIO shares and pay off the creditors preserving our GNBT stock. Or maybe the Generex NGIO liquidation share price would be high enough that all the NGIO shares Generex owns would not have to be sold in order to pay off all the creditors, thus leaving Generex solvent.
And on that note, I need an Advil. My head hurts.
A very interesting read:
What Happens to a Subsidiary Company if the Parent Company Becomes Insolvent?
https://bizfluent.com/info-12328436-happens-s...lvent.html
NuGenerex is the PRIZE! It is also a self-contained corporation, just not officially publicly traded (NUGX doesn’t count). Generex is the target for liquidation due to the Chapter 7. Which means that the NGIO stock that Generex owns would have to be sold (liquidated). Whoever buys this stock would become the NuGenerex majority shareholder, just as Generex now is. With NuGenerex being a separate corporation, I don’t think that the creditors can force the trustee to liquidate the assets of NuGenerex piecemeal. But under the current climate of judicial shenanigans, who knows if outside forces could be exerted to ”bend” the codified law with money or other influences. Then again, maybe my thought process is completely erroneous.
As minority NGIO stockholders, we probably will have no say in the matter. But maybe we could have/get some value with our NuGenerex stock.
Maybe Oasis could be our “savior” by getting the NuGenerex IPO launched. It would be to their benefit. Then Generex could sell some NGIO shares and pay off the creditors preserving our GNBT stock. Or maybe the Generex NGIO liquidation share price would be high enough that all the NGIO shares Generex owns would not have to be sold in order to pay off all the creditors, thus leaving Generex solvent.
And on that note, I need an Advil. My head hurts.
(4)
(0)Scroll down for more posts ▼
