Thought For Food - Warning, gray matter indigestion guaranteed
Since no one has reported to this thread that they have been
in communication with any official represenative of IPM, I must
assume that the officers of IPM do not want the shareholders to
know the details and current status of the bankruptcy proceeding.
Most, if not all, of the shareholders might think that there is
a straight forward and clear path that IPM will be required to
take to accomplish compliance for the Protection Code of this
undertaking to be realized. But, not so, in that IF the officers
of IPM, unknowned to the shareholders, want the destruction of
IPM, then there is a path that can be taken so that the court will
put limitations on IPM that will in effect guarantee that the
shareholders will end up with worthless ipmcf stock. One simple
and very easy possibility, is as follows:
- The court took control of IPM because the officers ....
- The mandate of the court is to sell off any assets.
- One asset is the right to mine the Black Rock property.
- The value of this asset is determined by the court,
- The value of this asset is NOT determined by market conditions,
- and the court will use, for example ipmcf share price of 0.01
- to determine its value.
- Even tho time will pass, and new information will reveal that
- the Black Rock dirt can be mined for precious metals, such that
- it is now "knowned" to be of great value, the court will sell
- the rights to it based on its "worthless" past value.
- And shareholders, do you wonder who will be getting the rights
- to this dirt, in this possible "might happen", all because we
- do not know what IPM is doing ?
June 19, 1998 -- International Precious Metals Corporation
filed a voluntary petition for reorganization
Chapter 11 of the Bankruptcy code
United States Bankruptcy Court of Phoenix, Arizona.
District of Arizona, U.S. Bankruptcy Court
azb.uscourts.gov (Click on FAQ)
District of Arizona, cases filed
ecf.azb.uscourts.gov
The law of bankruptcy
fedlaw.gsa.gov
Companies reorganizing under Chapter 11
bankrupt.com |
