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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (3996)	10/20/1998 1:51:00 PM
From: Martin Wormser	Read Replies (1) \| Respond to of 4571

I want to know if they will they get their furniture back.

To: Ron who wrote (3996)	10/20/1998 11:30:00 PM
From: virginijus poshkus	Read Replies (1) \| Respond to of 4571

Ron, in a typical chapter 11 situation, the debts of a company are suspended while operations continue. Financing is usually secured by the so called, "debtor in possession" clause which cause new money to come into the company in order to provide it with liquidity while it seeks to negotiate with its past creditors. the only problem with bcmd is that they have no operations. this is no joke, so in my opinion the likely chance of someone coming up with any fast cash is a snow balls chance in hell. however, and this is important, the court may force them into chapter 7, a complete liquidation. in this case the vultures will be at the door to pick up the mining equipment, the patented and unpatented claims etc. maybe a new bcm will arise from the ashes. the truth is that the stock of the old brush creek will not be worth the paper it is printed on. and of course there is the third possibility, a white knight might step into situation willing to part with some cash so that the properties can be kept whole and insure itself of a future, dim or not so bright, who knows. just my thoughts. v