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Technology Stocks : GX Investors Thread -- Ignore unavailable to you. Want to Upgrade?

To: cfoe who wrote (572)	3/14/2002 2:54:10 PM
From: Paul Kern	Respond to of 586

FWIW I worked, in the 80s, for a company that went BK and the majority owners wanted to shut it down and liquidate. The court refused, appointed a trustee, and the company, temporarily free of its' debt and with some DIP financing, started making a small profit. Two years later a buyer came foreward, the creditors ended up with about 40 cents cash on the dollar and, we were back in business. Two of the original majority owners went to jail. It turned out that this was the third company they had raped and bankrupted.