Lear Corp. (LEA)

[RonnieD]

i like LEARQ for a distribution in the new stock which will bring value from this price, which is why it's protected at .30. But I also believe the profits will come in the new stock, not this, so one should plan on holding for that news and then through the distribution.. remembering that there is a chance the dist. outlined by the court may dissapoint.
yet the best bk plays (and the most rare) survive entirely "as is" or close to it.
use that kcclc.net site .. it's got all the court dates, dockets, all the info you need.. overall, be predisposed to believe they are all worthless unless the balance sheet at time of declared bk is close to assets/liabilities. then you have to choose one where there is no chance of liquidation, or a white horse sale to a private equity group.
search for reasons why the common stock could survive or as in Lear's case receive some small stake in the new co.
Watch bond prices, those bonds will have to hold some value and DIP financing along with any operating profits will pay bonds before anything else IF possible IF management/court wants the company to continue as an independent going concern listed on the stock exchange (which is what it was).
these links are handy too for news.


http://news.google.com/news/search?um=1&cf=all&ned=us&hl=en&q=%22the+daily+docket%22&cf=all&as_qdr=w&as_drrb=q

http://www.google.com/search?q=%22bankruptcy%20week%20ahead%22&hl=en&output=search&tbs=qdr:w&&tbo=1