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Re: joseywalestx post# 6419

Wednesday, 11/26/2008 11:45:13 AM

Wednesday, November 26, 2008 11:45:13 AM

Post# of 6573
josey you can rest assured that it is highly unlikley that ERUC will emerge from bankruptcy.

Chapter 11 is a reorganization. ERUC has a very long history of financial failure. Brining in a new Radiology Group doesn't change it. They would have to wipe the plate clean.

Close all centers losing money, fire all management, hire new management with a proven track record of success and start from scratch.

Problem is, not many bankruptcy judges will allow that. I see them being forced into a liquidation by creditors.

I highly doubt the share swap will ever take place.

The company doesn't appear to be operating any more than a couple of centers at best.