uWink Inc. (UWKI)

[the big guy]

I am not an expert in bankruptcy, but I guess that it is a company's only hope of survival.. once things get to a certain point. If they cannot make a bank payment or meet terms or debt covenants.. like a person in the same situation, they would have to sell whatever assets they have. At that point, i makes more sense to try to recover through getting protection from teh courts.. in return.. having to restructure, or be run, by a trustee. Which, for a Nortel.. would be who? I think the Board goes away.

Nortel is a sad story. A massive pile of bullshit that teemed for about 15 years before reaching critical mass and blowing up.