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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: voyagers_stocktips who wrote (53431)7/3/2000 4:29:49 PM
From: on parole  Read Replies (1) of 150070
 
Thanks for the response. Yes I understand this is not a "total bankrupcy" which most refer to as Chapter 7. Chapter 11 is working bankrupcy and the company has a certain length of time to propose a reorganization plan. If they don't come up with one within this period of time then the creditors submit theirs. Every situation is different, however, existing shareholders generally do not come out good no matter which type of bankrupcy. I need to go and read the filings myself but since you are close to management you might just ask them the question.
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