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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (218820)	2/11/2005 5:21:02 PM
From: Taro	Read Replies (2) \| Respond to of 1574500

Hey guys, being technically bankrupt according to the school definitions or having declared bankruptcy are not the same thing. Also by law a balance sheet and a P/L statement must only be made at certain specific dates and as long as you look good then you have no problems at all. The state of business in between those dates is totally irrelevant as long as obligations are made and thus no courts have to decide if the corporation or rather the board should have declared bankruptcy or applied for chapter 11 to reorganize at some specific date relevant to the current state. MM is absolutely right as for the school definition but in real life, as long as you meet your obligations, no company is (or has to be declared) bankrupt because nobody outside the company knows and thus as Elroy claims, is de fact not bankrupt but looking just swell. This is all semantics. Taro