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To: i-node who wrote (3158)	1/22/2007 12:01:46 AM
From: pcstel	Respond to of 3386

If you're talking about a liquidation, that's a different thing, Well.. Duhhh!! It's called Chapter 7.. You said "and I simply stated that there is no bankruptcy unless a company can show it has the ability to become profitable." LOL!! How WRONG can you be!! The Bankruptcy filing and first day orders have nothing to do with the potential solvency of any reorganized entity. I think you are confusing Bankruptcy and the emergence from Bankruptcy. Even the emergence from Bankruptcy has nothing predicated on the concept that they reorganized entity can be profitible. Bankruptcy judges do not go into the details of a given companies future potential. But a DIP who cannot show the business is viable isn't going to be allowed to sit there under court protection and run up even more debt while the business collapses. LOL!! And then what happens??? They boots them out of Bankruptcy?? After all.. you just got through saying.. I simply stated that there is no bankruptcy unless a company can show it has the ability to become profitable." Dude.. I find you almost clueless on this subject.. The court approves all payments and expenses. When the money reaches a certain level and no one ponies up some financing... Then the last remaing funds are earmarked for the winding down of operations. Happens all the time.. It's called.. Liquidation! t doesn't work that way. That's the last thing I need... Some Country Bumpkin trying to explain Bankrupcty proceedings to me. PCSTEL