It's not a good outcome, but it's also not fraudulent conveyance. Principally because the proceeds of the sale go to the victims.
What you are saying is we should allow a creditor (of many) to sell an asset to whoever they choose at a lower market rate because it's the right political move in this one case. Why wouldn't those rules be applied in other cases.. you can sell any asset for a dollar to yourself and the bankrupt person will still be on the hook for the total debt minus a dollar. Letting a single creditor value assets below marketrate and direct a sale to someone they wanted would be a completely unfair process.
One group of creditors said they were willing to abandon some of their claims, which means other creditors would have gotten a larger share of the smaller bid, effectively making these other creditors better off.
If they get it less, later, or more chaotically, or if that was the intent it is.