How much would it cost to buy Storj Labs?

[jammerdan]

@viktoriyanavrotskaya

Chapter 11 isn’t a fire sale though. It’s a reorganization, not liquidation, and the network keeps running with Inveniam still backing them through it.

Errrrm. Chapter 11 still can end in liquidation.
The whole point of it is that we still don’t know anything.
But there are some weird things going on:

@Knowledge

I wonder what Storj Labs got out of the sale to Iveniam. It doesn’t appear to be funding if Storj Labs is trying to get a hundred grand in secured debt. Unless Iveniam is the creditor… Which would be odd to go about it through bankruptcy court. So… Seems to me as though whatever financing was discussed evaporated. Very strange. Further, trying to organize Community ownership of some sort when its wholly owned by Iveniam is also strange. Either Iveniam isn’t healthy and would be open to shedding Storj for a minimum price of some kind

If Inveniam backing is that great, why are they the largest creditor in the first place, why is there only a 12-weeks DIP proposed which clearly does not save the company and why did they put Storj into Chapter 11 at all? Also there are open questions regarding the proposed community buyout which went dead silent after rushed activity in the first place.

By the way, have you read the announcement?

@CBO

Other parties can bid for this business and the court decides.

So it sounds more like Storj is already on life support (or perhaps even on its deathbed), which could be pulled at any moment, and bids are more than welcome.