It happens all the time. Their 40% of this company is a pittance compared to their personal wealth. They let it fail, then THEY negotiate with the banks that get the assets to buy them back for pennies on the dollar. Now they have less if any debt, no pesky shareholders and no listing requirements to think about any more. So they lose a few million on their "shares" for which MANY got them for FREE and they gain that back in pre-packaged BKs that flush the common down the toilet.