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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: chowder who wrote (44355)5/25/2005 8:32:06 PM
From: energyplay  Read Replies (1) of 206338
 
CPN - chased some of it, got in about $2.45....

My guess is this is a bit like El Paso - there is so much debt, the only way the creditors get ANYTHING back is to play nice, cooperate, and get a good price for assets and deleverage.

In situations were the companies are in better shape, and there is a chance of getting 80-90 cents on the dollar, creditors seem to fight each other and want to be the first to pull the trigger and run the creditors committe..

Kb - comments ?
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