Jun. 3 at 10:55 PM
$ICCT Filed for Ch11 to escape from all the notes they sold the note buyers were shorting the company, now they lose the loans on the notes itself. This is how wicked capital funds destroy companies.
I genuinely wish that the company does something to the shareholders here and screwing the note holders and other debt holders. The company insiders seem to own a lot of shares. If they give shares of new company for the existing share holders, and wipe out the debtors - that'd be awesome.
"The Companies initiated the Bankruptcy Cases to retain control over their assets and operations, optimize their organizational structure, restructure their balance sheets, and strategically position themselves for long-term success. ... Furthermore, the Companies intend to file additional first-day motions to ensure the continuity of operations, including applications to employ professionals, a motion to use cash collateral, a motion to pay prepetition wages, and a utility motion"
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001906133/000147793225004389/icct_8k.htm
