We believe that the probability of achieving an out-of-court debt restructuring by the July 14 midnight deadline has declined below 50 percent, maybe well below.
Elizabeth Parrella
probability debt
We believe that management changes announced this morning are a strong indication that the board is considering a bankruptcy filing of the company, or at least a substantial restructuring of the debt outside bankruptcy.
management strong morning company debt
We believe that in either scenario there will be no residual equity value.
equity
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