If Musk leads Twitter into bankruptcy, can someone else take it over and run it. n/t

[patricia92243]

[WarGamer]

1. Musk owns it.

It's not a financed car that the bank will repo and sell again.

[Effete Snob]

3. Be that as it may

It is precisely within the power of a bankruptcy court to appoint a receiver to run it.

[hlthe2b]

5. Actually it IS financed. His overall wealth will keep him getting loans but at some point

he IS going to want to cut his losses, especially as it impacts Tesla (losing value daily).

[WarGamer]

6. A small portion is financed.

And it's backed by assets.

Musk owns Twitter as sure as I own the computer I'm typing on.

[hlthe2b]

7. As I stated. Banks CAN call in their loans and Musk CAN sever it from his holdings and let it die.

You stated it is "not financed." It IS:


https://www.reuters.com/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/

WHAT WAS HIS FINANCING PLAN?

Musk pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covered the $44 billion price tag and the closing costs. Banks, including Morgan Stanley (MS.N) and Bank of America Corp (BAC.N), committed to provide $13 billion in debt financing.

Experts have said commitments from banks to the deal were firm and tight, limiting their ability to walk away from the contract despite the prospect that they may face major losses.

Musk's $33.5 billion equity commitment included his 9.6% Twitter stake, which is worth $4 billion, and the $7.1 billion he had secured from equity investors, including Oracle Corp (ORCL.N) co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal.

That had left Musk in need for an additional $22.4 billion of funds to cover the equity financing portion of the deal.

[FBaggins]

15. Only if he misses payments

Those payments don't have to come from Twitter income

[hlthe2b]

16. Obviously--as with any other bank loan.

[Effete Snob]

2. Yes, that is precisely what usually happens

The normal course is that the creditors will want a court-appointed receiver to run it.

[Turbineguy]

4. Trump can buy it cheap

and merge it into Truth social.

[Ford_Prefect]

9. Trump won't do that because he NEVER spends his own money on anything. He'll get MBS buy it for him.

[Tomconroy]

8. The bond holders and other secured creditors would take possession. Banks and the like.

[Chainfire]

10. Once he ran off all the talent, who would want it?

[Ocelot II]

11. Depends on whether it's Chapter 11 (reorganization) or Chapter 7 (liquidation).

[LastLiberal in PalmSprings]

12. Can we create a GoFundMe to buy it?

A $100 goal should be sufficient,

[LastLiberal in PalmSprings]

13. Can we create a GoFundMe to buy it?

A $100 goal should be sufficient,

[PXR-5]

14. The funny thing is it will probably go bankrupt before Truth Social nt