[Dr. Sivana]

The owner of a company I used to work for filed for bankruptcy, and as it was the second time, the creditors were ultimately trying to force serious changes. It turned into a heave-ho match with the owner unwilling to make any significant concessions, and the creditors unwilling to lose all of their money.

The judge wanted to them to work things out to avoid a Trustee. Well, it didn't happen, and an extra $2 million was wasted in the court room of a small company with most small time creeditors who could have used it. At times, lawyers would spend the better part of a billable hour in court arguing over which fund pays for the lawyers fees. It was right out of Dickens' Bleak House.

In the end, the result was the same as would have been had the judge been able to realize that one side was completely intractable, and the other was largely intractable. This cost the business three years and two million dollars, neither of which it really had, and everyone was the poorer for it.

[NY.SS-Bar9]

and everyone was the poorer for it.

Except the lawyers.

[wrencher]

“and everyone was the poorer for it.”

Not everyone, the lawyers for both sides were probably toasting each other during the feasts.

[supremedoctrine]

Which only underscores the imperishable truth that “It’s all about the lawyers” (followed by the Courts and the Judges).

[GeronL]

Bleak Twinkies

[elkfersupper]

The lawyers get paid first in any bankruptcy.

It's like gravity. It's the LAW.

[supremedoctrine]

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[supremedoctrine]

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[supremedoctrine]

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