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To: IKM who wrote (570)	3/14/2002 1:39:13 PM
From: Bonzo	Read Replies (1) of 586

I know, I know, 99% of the time shareholders end up with squat. And you don't have to be a Wall street professional to know the pecking order in a BK reorg. But what if this plan flys? Doubtful, but hey, maybe the shareholders of this incompetently managed and governed company will catch a break? It will require significant cooperation from the majority of creditors - no doubt. 05:07 PM DJ Global Crossing -2: KAB Wants Holders To Bid Separately An attorney for KAB Group LLC, an investment bank that has submitted a refinancing proposal, requested that his client be excluded from the bidding process so that shareholders can bid independently. KAB has said its offer will repay all creditors in full and leave shareholders with a 37% stake in the company. Fleet National Bank's attorney said he has not been apprised on the progress in the negotiations and would not support proceeding with the hearing on Tuesday without further information. Global Crossing filed for bankruptcy in January and listed $22 billion in assets and $12 billion in debts.

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