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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (34082)	8/27/1999 10:02:00 AM
From: Sam LBI nj	Respond to of 44908

Zeev, You ever hear the statement "Robbing Peter to pay Paul"?....Gordo is the master Illusionist....I bet he could give David Copperfield a run for his money..... Sam

To: Zeev Hed who wrote (34082)	8/27/1999 10:07:00 AM
From: Bald Eagle	Read Replies (2) \| Respond to of 44908

I'm not an accountant or tax expert, though I did work for H & R Block for a while. However, I'm pretty sure that bankruptcy of any form doesn't get rid of tax liabilities. At least for personal bankruptcy, that is true. Any IRS experts out there?

To: Zeev Hed who wrote (34082)	8/27/1999 1:34:00 PM
From: Suzanne Newsome	Read Replies (2) \| Respond to of 44908

Zeev, the amount due to the IRS is approximately $430,000. Since it is well-known that bankruptcy does not relieve a person from IRS obligations, can we not reasonably assume the auditors, in their desire to continue to be practicing accountants, would not have attempted to obliterate the IRS obligation through bankruptcy? In other words, can we depend on the accountants' not wanting to do something blatantly illegal? I still believe this issue of the $4 million gain due to the bankruptcy could use some enlightenment. Regards, Suzanne Edit: If it were up to me, TSIG when it was able would pay off every creditor that got shorted due to bankruptcy. I have personally been on the short end of some bankruptcies, and I feel if the company eventually becomes successful, those obligations remain in effect. SN