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Technology Stocks : Avant (AVNT)
AVNT 35.65-1.0%Jan 16 9:30 AM EST
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To: PMylnar who wrote (1524)11/20/1997 4:51:00 PM
From: Mama Bear  Read Replies (1) of 3441
 
>>>I think companys can purchase bond insurance that allows them some flexibilty<<<

It's what bail-bondsmen do for a living. Some executives at the company probably have a relationship with one from the criminal side. Standard deal is 10% of the amount (which is of course negotiable), so it would cost them 3.1 million to avoid putting up 31 million. The difference is that this is a cost, it would then be a 34.1 million loss were they not to succeed in their appeal effort. If they put up the 31 million and then not succeed, then that money is used to pay the judgement. The purpose of the bond is to insure that the appellant is not doing so just to delay payment of the judgement. From this perspective I doubt that it is 150% of the award, however, I don't know California laws so it could well be.

Why do I keep thinking "Birds of a feather...."?

Barb!
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