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Re: mzurosky post# 79116

Thursday, 05/24/2012 2:29:15 PM

Thursday, May 24, 2012 2:29:15 PM

Post# of 82680
Zecco should have given you notice so you would have time to make the necessary adjustments. If not I’d be talking to my laywer. According to the recent news, Penson lost $48.5 million in a quarter and "has not yet" secured a deal with its lenders to cut $281 million in long-term debt on $29.3 million in revenue and around $10 million in interest expense. In the meanwhile, it's closing its UK subsidiary and selling off its Canadian and Australian subsidiaries. This sounds fairly close to insolvency. Have you considered what would happen if Penson went the way of M.F. Global?
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