boot2327 wrote:
That $4.2m paid out to the athletes during the 90 day period prior to the bankruptcy petition will be clawed back into the bankruptcy estate as voidable preferences. Athletes will have to write checks to GST. So add that to the a$ pillaging of the talent that GST was hatched to pay like the elite professionals that they are. secured creditors - ohanion and winners alliance are the biggest secured creditors and will get the assets. Probably pennies on the dollar if anything for the unsecured creditors - ie the athletes. Show me the silver lining to that.
Ok but any assets that aren't cash will be worth precisely $0. GST probably has negative brand value at this point.