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To: DENNIS TULLY who wrote (6761)5/21/1999 11:11:00 PM
From: James Strauss  Read Replies (1) | Respond to of 7006
 
Thanks Dennis...

So, it looks like they now move into the second phase of coming to an agreement with the creditors... By paying pennies on the dollar, this should free up a lot of debt burden...

Jim



To: DENNIS TULLY who wrote (6761)5/22/1999 9:25:00 PM
From: Mahatmabenfoo  Respond to of 7006
 
> "Proofs of Claim" Form

It's a form given to those who are owed money, and who aren't getting paid because their claims are frozen by bankruptcy. (when in bankruptcy, current bills get paid so the company can keep going; it's payment on the old bills that gets frozen). All the claims are collected and those owed money, the company, and the bankrupcy court figure out how they get paid.

Those owed money can force the company to liquidate, if they think that's best for them -- so the claim form doesn't mean the company is necessarily going to be released from bankruptcy soon or ever.

- Charles