I don't think you fully understand how this works. Bain doesn't get off the hook here with zero losses. In these bankruptcy situations, equity holds (Bain) usually get their equity stake wiped completely. If they had hundreds of millions/billions of dollars in equity, all of that is now gone. They will recover some of the money from the liquidation of assets however they will immediately use that to pay of their own debts. The debtors however get screwed even further... most if not all of them get absolutely nothing.

"Bain doesn't get off the hook here with zero losses."

They make the company pay them dividends while saddling the company with their debt.

"The debtors however get screwed even further... most if not all of them get absolutely nothing."

And yet, they keep lending to these vultures. I have no sympathy.

> They make the company pay them dividends while saddling the company with their debt.

Yes that is true. Is the sum of dividends over X years >= the amount of equity wiped out in a Chapter 7 liquidation? Impossible to say... the company is private.

> They make

They didn't make them do anything. They bought the company... they can do what they want as owners. That's just how this game works.

And that's not a good enough argument anymore. They did force this upon the company, and they are feeling absolutely none of the consequences of their decision.

> they are feeling absolutely none of the consequences of their decision

Man I wish I knew the fine details of the books of a multi-billion dollar private equity firm like you do.