Bigger firms can buy lower in BK
There is no need to any large firm to buy them prior to them filing bankruptcy.
Even XOM, I think, noe realizes the mistake by making large purchases when prices were high, and did the bond offering to pick up scraps in BK sales, or even after BK.
I think one recent, Dune Energy, DUNRQ, had $250 million in assets on the books, only sell for something like $9 or couldn't sell.
I think some sales may take place after a reorg, since the post reorg company will be still losing money and the sale can go through without the delays of the court process.
Louis J. Desy Jr.
