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Strategies & Market Trends : From the Trading Desk

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To: g_m10 who wrote (3722)	10/10/1998 3:52:00 PM
From: steve goldman	Read Replies (1) of 4969

Thats more of a legal issue...lots of complicated issues...probably more the province of an attorney...oh, yeah, i am one... Generally, the exchanges will halt the stock or will relist it with a different symbol. The nasdaq adds a 'q' to the symbol. ie. Boston Chicken goes from BOST to BOSTQ. Roughly speaking, the attorneys and the court work out the proceedings and see if there is anyway for the company to come out of bankruptcy, somehow reorganizing the company. Generally speaking, creditors, bond holders and other preferred shareholders have standing before common equity holders. Most equity is wiped out. The company sometimes comes out of bankruptuc, but old holders of the stock often get nothing. Regards, Steve@yamner.com

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