QDRX Message Board - Msg: 3050168

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Microcap & Penny Stocks : QDRX

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To: Jim Mills who wrote (3342)	12/28/1997 10:02:00 PM
From: J. Davies	Read Replies (1) of 3977

The biggest creditor is still the bank, Jim. Advanced Pultrusion have won one case and have another outstanding case about to go to court - but it will still be less than the bank has put into Victor. I don't know what judgement Bash has against Q, but I bet it's a lot less than the bank's loan. Bash may have forced the shutdown, however, with his levy on the Q's bank accounts on the 12th December. The vendors on the payables list and other creditors will also be jockeying for position. There could be filings in RI state court too. All of these filings in court are to stake a claim in the discussions and get asked to the negotiating table. Chapter 11 is designed to give the company a chance to get its act together and pay off everybody - eventually. Chapter 7 is a yard sale to pay everyone a percentage. There is a pecking order for the claimants according to their type of claim. Congress Financial & Argus will be calling the tune over the next week or two. The loyal and dedicated shareholders will come last - of course. JD

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