Being a lawyer but not a bk specialist I can tell you that Bronner will loose all of his investment with some certainty like all stockholders. US does not necessarily need a new investor but it would be very helpful. Talk is that it might be hard to find anyone and that is where the risk of liquidation comes into play.
From the unions perspective I can not understand their tactic at all. All contracts are now open for renegotiations and it is likely that the judge will approve tough changes.
Not to be talking about the image loss by a second bk in a short time. People might avoid US at least for some weeks further destroying US reputation and balance sheet. US seems to be a prime example of the self destroying forces of bad management unions relation. I would love to hear from the smart union representatives what was won by their rejection of the companies proposals?