Originally Posted by
CatPilot1
The debtors won’t have a choice because they’ll get nothing in liquidation. And please don’t act like you’re an expert in bankruptcy law. It’s a pretty nuanced field. And I am no expert either.
I think he meant "creditors" not debtors.
The creditors will certainly get something. The former bondholders are now secured creditors, since there are assets pledged to secure their investments, and they will be paid back from the sale of those assets. Its probably better for them to sell the assets and close the business down instead of taking a bad deal from Frontier or anyone else. This puts their interests at odds with Spirit employees interests, which is a bad sign.