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ElevenLathe • today at 5:29 PM • 0 replies • view on HN

Presumably the creditors would then own the DCs. The price to build them is a sunk cost (meaning: not actually a factor in determining what they are now worth), so they would either sell them off for their new value or else run them at market rates.

The big question then becomes: what is the market value of these things? Is it even positive? Creditors will eat the difference between that number and whatever they actually lent (less what they've been paid back so far, if anything).