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Non-Tech : Imperial Sugar (IPSU) -- Ignore unavailable to you. Want to Upgrade?

To: Patentlawmeister who wrote (35)	12/11/2002 4:27:27 AM
From: Crossy	Respond to of 121

Cudawuda your notion is generally right but bear in mind that the condition for emergence from bankruptcy in a Chapter 11 proceeding are very much influenced by the general external economic environment and also by the specific industry environment at the time of emergence. In boom times the "deals" companies emerging from BK can opbtain in ther plan of reorganization are usually not as good as in middle-of the road times such as now or even in recessions. It all boils down how much debt the new entities are attached to. IPSU for example was attached some $240m in longterm debts in their plan of reorganization. That was/is managable in their case. Many telecom company gets wiped out their debt completely due to the catastrophic infrastructure environment we currently experience in telecom. If I remember correctly many 2nd time bankruptcies were caused by too harsh conditions that were attached to the firms when they rose from the ashes for the first time.. rgrds CROSSY

To: Patentlawmeister who wrote (35)	12/11/2002 4:29:08 AM
From: Crossy	Respond to of 121

Cudawuda, unlike you I tend to look for bargains in the post Chapter 11 field. What I like are plays with meanigful sales and few new common stock out (like IPSU). I love those $bn companies with 10-20m shares out.. rgds CROSSY