Mike Seymour writing for fxguide.com

The idea of Chapter 11 bankruptcy protection is to give a company time to negotiate with its creditors, since during that time the creditors cannot pursue any debts or claims. The company must file a plan of its reorganization with the bankruptcy court, and the creditors are participants in the bankruptcy proceedings, that is, they can investigate the operations of the company. The creditors must vote on the proposed plan, and the court will review it for feasibility. Then the company must carry out the plan.

A friend of mine not in the visual effects world is floored by the bad news around DD.

How can it be this bad.