Allen-Vanguard Rescue Board Message Board

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Technology Stocks : Allen-Vanguard Rescue Board

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From: beaverfever	9/17/2009 9:55:55 PM
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Courts to decide Allen-Vanguard is trying to circumvent routine bankruptcy proceedings. In particular the part where the books are subject to independent review, and bids are received on assets. They will approach the court stating that the "troubled company" whose assets are lower value than its debt, has found a buyer, secured the jobs, and paid all the debt. The only problem is that shareholders get nothing. Courts in the past have agreed to this type of deal. HOWEVER, this deal has had: - EXTREME asset devaluation, - exclusive discussions with one buyer, - and questionable conduct. VERSA is patiently sitting on the sidelines, probably will threaten to walk if forced to compensate shareholders. Anybody got a couple hundred million to lend me ? It sure would get interesting if another potential buyer approached the court !!! Meanwhile no filing , yet.

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