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Tesla Bankruptcy? Fraudulent Conveyance?
• themaven.net by Mike Mish ShedlockThe Tweet looks cryptic so let's explain.
"11 USC 101 & 548" refers to 11 U.S. Code § 548 - Fraudulent Transfers and Obligations.
"SCTY" was the symbol for Solar City.
Zucchi is referring to Tesla's solar business as described in this November 2017 Motley Fool article: Tesla's SolarCity Buyout Looking Worse By the Day.
A year after paying $2.6 billion for SolarCity, Tesla appears to be shutting down the company's operations at a speed no one anticipated. If the trend continues, there may not be much of a solar business left.
Why did Tesla buy SolarCity for $2.6 billion if it was just going to shut down most of its valuable operations within a year?
Tesla didn't need SolarCity to start selling solar in Tesla showrooms or to develop the solar roof, which was actually a Tesla development. It seems to have been a bailout for Elon Musk and his cousins Lyndon Rive and Peter Rive, who would have lost hundreds of millions, if not billions, if SolarCity had failed.