International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Char who wrote (34707)	2/27/1999 10:37:00 AM
From: Alan Vennix	Read Replies (1) of 35569

Char, <<Is it possible someone else could buy the claims for a song and Phoenix would be left out in the cold? >> This is my expectation of what might happen. Current IPM "management" will get some cash for the shares, pay off crediters (which likely includes the management and directors), and the new owners will have it free and clear with nothing going to the current shareholders. Of course, I assume the bankruptcy judge would have to approve any deal, but if they can get a few hundred thou that's likely more beneficial to the "crediters" than the MXAM deal, which would more benefit shareholders (in IPM firstly, but MXAM shareholders also if you believe in the potential value of BRX). JMO. Alan

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