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to the best of my knowledge the only assets to hold in a company going bankrupt
are bonds that are collateralized by hard assets. Preferably real estate.
Equipment is usually a 10 cents on the dollar thing. If they can't come
up with a scheme to come out of bankruptcy then the scavengers go to work
on the bits and pieces of value and stockholders don't get anything. Take
a look at Global Crossings as a example. Or go all the way back to Penn Central.
Don Ewers wrote:
05b001c2901a$a517e030$0c26343f@xxxxxxxx">
I forwarded a page from the "pink sheets"
that indicates the preferred is trading at 5.75 (annual high was 25). Has
anyone on the list had any experience with a preferred of a bankrupt company?
Is this headed for zero or is there any hope to recover the 77% loss suffered?
Any help or insight would be appreciated so i can pass it on.
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