Originally Posted by StopBeingWhimps

Then that would be a Chapt 7 liquidation sale, at that point a court trustee takes over and puts the remaining assets out on the "open market" for everything to be bid on. That is currently not an option right now for the Bond Holders (atleast in the short term) A chapter 11 section 363 asset sale can be done anytime to one particular buyer agreed by the Bond Holders to acquire the assets, take over leases etc. This is most likely scenario and most likely the current talks going on with Franke right now.. The Bond holders run the show, they are in charge.. they will make the decision on whats best for their recovery and it seems Chapt 7 is NOT part of their plans.

Spirit also just hired PJT Partners, they are world renowned experts in getting deals done that otherwise are viewed as impossible. They specialize in failing company defense getting mergers past. They are the ones you hire if you're trying to get somebody to merge with you, but otherwise be blocked by regulatory means, they are experts at getting around those. Take your fear mongering elsewhere. Spirit will be acquired and absorbed, there's no question about it.. only a matter of "when". These top firms live in a different world than majority of america.