Bill Wexler's Trading Cabana Message Board

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Non-Tech : Bill Wexler's Trading Cabana

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To: cubsfan who wrote (5458)	5/12/2009 8:26:27 AM
From: RockyBalboa	Read Replies (2) of 6370

Hayz filed for ch.11 today after it traded briskly the last days, stock off. thats a warning short for other suppliers even those considered as "survivors". >>> To facilitate the restructuring, the Company and certain of its U.S. subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware. Also included in the filings is Hayes Lemmerz Finance LLC - Luxembourg S.C.A., a borrower under the Company's secured credit facility and issuer of its senior notes. As a result of the restructuring, the Company expects to eliminate a significant portion of its existing debt. Upon confirmation of a plan of reorganization, it is anticipated that the DIP lenders will convert certain of their loans into equity and will own substantially all of the equity of the reorganized Company. Zilch.

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