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To: Ron McKinnon who wrote (18386)	1/10/1999 7:56:00 PM
From: tom pope	Read Replies (1) \| Respond to of 53068

Ron What I was trying to say is that I think it would be unlikely for Citibank to take over the Chase financing if it weren't pretty certain that a Chapter XI filing was unlikely. Yes, it would still be secured, and it would do better than the unsecureds, the subordinateds and the equity holders, but it would not do well. Nobody wants to enter into a new financing with any prospect of the trauma - and almost inevitable financial loss - of a filing. There are a lot of things for which you can criticize Citicorp, but walking into hornets' nests isn't one of them. Unless they've changed since I used to deal with them. Best Tom