Syncora Holdings Ltd. (fka SYCRF)

[dylyo]

well the JeffCo/ JPM lawsuit was just reported this week for an approval/dismissal mid November


So that is a huge one for sure because Syncora is wanting out of the 3 billion dollar bond insurance for JeffCo and I believe are also seeking 400 mil in damages

Add this scenario to the last report stating behind claim payments are to be caught up on, or before Jan 2011, and cash reserves grew from 100 mil to 160 mil last report



get caught up with payouts

get away from JeffCo

have cash reserves with previous 2 accomplished

and billions in NOL's for tax write offs many years after this is all over and new business is being written



it really is do or die with this case and how the receivership works out with JeffCo if they lose the case


and that is not even considering their biggest holdings (700+ mil) are Countrywide loans that Bank Of America now owns and is constantly being reported as having a future with billions in losses paying back on fraudluent loans/foreclosures to the monolines

I said $5 next year on speculation and $10 not far after

but this case has to play out for Syncora and they need to start filing with the SEC again then proffesional investors/analysts/institutions will take Syncora seriously again

with only 67 mil common (40 mil held private) they can easily get off the OTC