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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Fischofer who wrote (10636)	4/14/2001 8:20:00 PM
From: Frank A. Coluccio	Read Replies (1) \| Respond to of 15615

Thanks, Bill. The defaulting party would likely be forced to let go of their IRU asset for pennies on the $ during liquidation. If the subsea provider were to buy it back at the discounted price, then that would be a steal, and yes in that fashion they would have the ability to sell it again, as you suggest. OTOH, if a competitor of the subsea party purchased the asset at the lowered price, perhaps in connection with another securitized situation, it could then work against the original provider. Just musing. FAC