I don't read pace's blog (a friend sent me the link) and don't keep up with true since I left a subsidiary so I'm about a month late on this but didn't see it posted here already. Thought I'd post it for the lulz
http://GAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAY.com/2012/08/true-com-bankrupt-and-owes-100m/ (edit: ha, just saw the url rewrite, tl;dr= true declares bankruptcy on a hundred mil debt, leaves cpas fucked.)
http://GAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAYGAY.com/2012/08/true-com-bankrupt-and-owes-100m/ (edit: ha, just saw the url rewrite, tl;dr= true declares bankruptcy on a hundred mil debt, leaves cpas fucked.)