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To: webpilot who wrote (5626)9/18/1998 1:59:00 PM
From: .com  Read Replies (1) | Respond to of 5812
 
"In the event that the judge rules in the stockholders favor, it will be a moot point, if in fact the bondholders are in control."

Good point webpilot.

Another thing to keep in mind is that if the judge decides to give the shareholder some rights, that does not mean the stock will just live on. The company has to go chapter 11 regardless; they burned all of their cash, as well as their bondholder's and stockholder's cash. Thus, what can stockholders realistically get under a chapter 11 reorganization? Maybe warrants in the newly organized company?

Still would like to know what happened at the hearing.