Leap Wireless International (LWIN) Message Board

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Technology Stocks : Leap Wireless International (LWIN)

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To: pcstel who wrote (2341)	7/3/2002 11:23:45 AM
From: Rono	Read Replies (2) of 2737

Actually Maurice, I believe they (LU) have been selling the vendor debt at quite a discount for some time now. That is interesting, I had not considered the sale of the vender financing debt to a third party. If indeed this has occurred, would not the new owners of that paper have input of any refinancing and not LU? Playing the devils advocate, I suppose if these new owners of the vender financing debt wanted control of LEAP they could play hardball regarding covenants, bankrupt them, eliminate the common shareholders and bonds, and take control of a potentially profitable business for pennies on the dollar. I'm not suggesting this will happen, or if this is even possible, just offering some wild speculation on why LEAP has fallen so far off the cliff. Ron

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