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Post# of 736073
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byrddog

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byrddog

Re: Sculelos post# 118683

Friday, 11/06/2009 11:11:11 AM

Friday, November 06, 2009 11:11:11 AM

Post# of 736073
"Why did the banks debt not transfer with it when it went to receivership?"

Sculelos, I believe that this question was answered by another poster already. I will go back and look for it. It is my understanding that the bonds (debt) are the responsibility of JPM if they are not deemed worthless through BK proceedings. JPM purchased assets AND debt for the 1.8bil, therefore, bond debt would be inclusive in the purchase. If JPM thought they bought only the assets and not the debt, they will be in for a RUDE AWAKENING!!!
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