The main problem was that it was they weren't offering to pay cash.  They wanted to pay a very small amount to a select few companies to get their hands on the chips and then if they decided to build a mine and after they got their investment back they would maybe pay up to 6 million dollars back to creditors.  So the likely outcome for customer creditors was that we would have ended up with $0.  If you have a choice between keeping something that is worth a few million and declining in value so you could look for another buyer or $0 for it right now which would you take?