Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ATPG Shareholders -- Ignore unavailable to you. Want to Upgrade?

To: alertmeipp who wrote (322)	9/3/2012 9:39:37 AM
From: billgatesisevil	Respond to of 3620

I suspect that the lack of partners is the usual curse of a company in the "zone of insolvency". The trustee is permitted to avoid transactions completed six months prior to any bankruptcy and return the asset(s) to the estate. Anything their partner or contra paid/contributed/etc. is now an unsecured claim against the estate. If the contra is an "insider" then the period goes back for a year, not six months. In any case, any potential partner or asset purchaser is quite put off by the prospect of contributing money and then getting an unsecured claim that might pay off after a period of time with cents on the dollar. The logic is to prevent the obvious ploy of the company paying off the folks who have pull, are associated with the owners, etc. while leaving the rest of the creditors on the hook. Fraudulent conveyance is also a no-no. There is a page on that in Wiki for the interested.