AXIA and its confusing message

[anenro]

Can someone explain this to me?

The message is confusing at best.

Quote:

March 10, 2023



Dear AXIA community member,



Calderwood has completed its review of the AXIA Project and has recommended that the AXIA entities begin an orderly wind down. Calderwood is working with its financial advisor, Alvarez & Marsal, on a comprehensive wind-down plan. Additional information will be forthcoming to participants as AXIA moves through the wind down process.



Sincerely,

AXIA Project Team

Can someone translate this message in BASIC English?

[anenro]

What is the meaning of "wind down?"
Wind Down means the process of winding down the Debtors ’ business after closing of the Sale. Wind Down means the wind down, dissolution, and liquidation of the Debtors ’ Estates after the Effective Date.

[Sapphire Capital]

I remember my english lessons, but since it wasn't my first or second language in my book it means gradually closing or terminating, it implies a process

[anenro]

The minute we found out AXIA got sued, we knew AXIA and Nick Agar would bail and declare bankruptcy.

[Sapphire Capital]

gripping them through the corporate veil may be possible