I believe the SIPC would not take years to settle, I believe there are precedents to review, but these may only concern the failure of firms, not this kind of thing.
I think they take about 1 year, depending on the situation.
Now, if the court orders the people to pay up, cover whatever, and they don't then they have to justify their non compliance.
V:
If the courts suspect a fraudulent type of escape manuever, then I would imagine this would open a different can of worms.
However I doubt if this part of it would affect aznt, only the parties doing the bad deed.
I believe that the SIPC would step in, but the problem is,I think they then determine a "fair" value, and pay that.
I believe it's not what the market decides, it's what the SIPC decides is the value.
(I have a basis (I think... it's from memory) for this belief, but I just can't find where I read it. I was looking it up because of RMIL, and god knows what I did with the link)
I guess someone could call them and pose the question.
I don't know why shares were issued, I am really only observing.
(helping the longs if I can.. I admit being biased to the longs, ALWAYS)
I agree that the BB's are tough, but I feel a lot of the blame lies at the feet of the SEC.
Their lack of oversight is a primary cause of the problems, IMO.
JMO
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