Thank you.
You talked about some of the egregious examples, previously. Two come to mind, in recent times. One would be the Sears bankruptcy proceedings. The other one is Nortel.
The interesting thing about the Nortel case is that pensioners took a significant reduction in benefits before finding out that the intellectual property at Nortel was worth some $9 billion. The primary beneficiaries of the found IP value happened to be those individuals who advised the company—in the form of legal fees and accountant fees. Those fees increased. Bills were well over a billion dollars, which went to professionals who work in the industry. That example is one of the real reasons why people are frustrated with the current rules, as they exist.
Is that true?