Last week, Hertz won bankruptcy court approval to sell up to $1 billion in stock. Clayton did not elaborate on what the issues were with Hertz’s plan, but indicated that the company was unlikely to go through with the offering until those issues were resolved, according to CNBC. Hertz has warned that its shares would be eventually “worthless”, but the stock sale could benefit creditors seeking to recover more of their claims during the bankruptcy process. …read more
Source:: Yahoo Finance
