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Gold/Mining/Energy : Solv Ex (SOLVD)

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To: David Coakley who wrote (5166)	12/3/1997 7:46:00 PM
From: R.Mark Lubchenco	Read Replies (2) of 6735

Dave, According to Bear Stearns they are trying to buy "ALLOWED CLAIMS" for up to 60 cents on the dollar. They only started doing this when it became apparent that the asset sale to Koch would allow for dollar for dollar repayment for the trade creditors. It is in effect an arbitrage. It is unfortunate that the people who will get the short end of this deal would be trade crediitors that can't wait another 2 months for dollar for dollar repayment. Mark

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