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nathancahill
on Nov 16, 2015
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Pandora to Buy Rdio Assets for $75M, Rdio Files Ch...
Yes, but where does the $75M end up? Wouldn't Chapter 11 be an end run around investors?
sawthat
on Nov 16, 2015
[–]
The $75 million will be used to pay creditors. It's not an end run, it's better than the alternative which would be creditors going after shareholders to recover their debts. (which is why bankruptcy protection exists)
nathancahill
on Nov 16, 2015
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That makes sense. Thanks!
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