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Technology Stocks : WCOM
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To: FNS who wrote (11258)7/12/2002 12:44:20 AM
From: Oeconomicus  Read Replies (1) of 11568
 
FNS, it was I who mentioned Covad. They're back out of BK, restructured and essentially debt free ($50 million vs. $1.4 billion before BK), and shareholders only had to give up 15% of the company to the debtholders (according to COVD's SEC filings). That may be too good of an outcome to hope for if WCOM does go BK, even a prepackaged one like COVD's, but it is far from certain that BK is inevitable, much less that BK would necessarily wipe out the current shareholders.

JMO,
Bob
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