Calling this a “bankrupt division” does not do justice to the mis-management here, as they merely corraled the few performing assets into their own corner, put the bad ones into the receivership (which caused the Jr. bond-holders to balk, as they were left “holding-the-bag”, so sued for relief).

If that $ 18.4 billion figure is correct, there has not been much headway in paying it down (minus the fees that the bankers & lawyers still extract, of course), as that figure in this length of time does not make them more liquid (original package was +/- 10 billion dollars more), which is probably why they didn’t pursue putting out that much cash to a creditor group. . .as it would cut into ordinary operating income trying to stay afloat. . .

We’d all like to be able to borrow money, call it something else, have at least 40% called ‘relief’ & not have pay it back. . .