Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 12.49

+2.1%

Feb 9 3:59 PM EST

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To: Hal Campbell who wrote (15801)	1/25/2002 2:15:25 AM
From: Hal Campbell	Read Replies (1) of 17679

AXC's leverage in this offer is this... << If the Exchange Offer is not consummated, the Company may be forced to seek protection under Title 11 of the U.S. Code, as amended (the "Bankruptcy Code"). The Company believes that a filing under the Bankruptcy Code would adversely impact the business operations of its operating subsidiaries, impair its ability to collect royalties from its licensees and potential licensees (many of which are foreign corporations) and could trigger substantial liabilities under its pension plans. In the event of such a filing by the Company, there can be no assurance that the realizable value of its assets, after payment of obligations having priority to the Old Notes (or the New Notes), would be sufficient to repay the Old Notes (or the New Notes), in whole or in part. >> In other words the note holders may not get much at all if they force bankruptcy now. What AXC is shooting for here is less clear to me. I guess the talk is of hoped for DVD patents.

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