"Only problem with that scenario, is that they wou
Post# of 43064
Bankruptcy likely isn't in the cards for PTOI. CEO Mr. Heddle is the creditor with claim on all of PTOI's assets. He doesn't need to have a bankruptcy court appoint a debtor-in-possession to manage PTOI and sell off non-performing assets--he already has complete control and, not surprisingly, is already selling off assets.
In just over four years when the $600k loaned to PTOI by other investors comes due, it might be a different story...but by that time I doubt they'll find it worth their time to take PTOI through bankruptcy court.