Regarding that statement, let's just say I-Conpulled the wool over the judge's eyes.Wouldn't be the first time he pulled that crap.
BK judges have no wool over their eyes. The judge is on Icahn's side. Look at previous BK cases where the judge handed the company to insiders: Spansion, Visteon, Citadel, etc.BK judges do not have fairness in mind. They just hand over the company to the strongest player and screw the weak. Shareholders, by definition, fall into the weak catagory.
They may be insolvent but that doesnt mean the PPS cant increase.
Insolvent means there's nothing left for shareholders or trade claims or junior bondholders.Icahn has stolen this company cheap and will reap big profits. Everyone else will lose.