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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Rational who wrote (1427)	10/26/1997 1:28:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 2544

Sankar, you said they have 3.3 million shares, in my book, I would throw these 3.3 MM shares if necessary to make sure I do not lose the $300 MM. If the company is kept alive artificially, the bleeding may get all the way to the senior debt, and under CH 11 it may take years (and millions in lawyers and accountant fees) to get to their money. Why do you think they would consider reviving it (if indeed it is on its death bed) to save what is now only about 7 or 8 million bucks? It does not really matter what it was bought at, it matters only what a rational person would think it is worth today and against the $300 MM, the $8 MM is peanuts. Zeev Zeev