Replies to post #14273 on BioNitrogen Holdings Corp. (BIONQ)

[Jrichey]

That's what has me worried, am I going to lose all of my shares? Chapter 11 can go either way. You can chose to completely restructure and start over, or you can continue with what is there and build from it. GM was chapter 13, which I'm pretty sure forces you to restructure, hence why I lost my shares of GM during that time.

Hope for the best, prepare for the worst.

[Gatorlady]

Mr. Copley made the statement (along with city officials) in a city council meeting AFTER they filed for bankruptcy. It was part of an agreement for the city to take over the $5M loan and not demand payment for it until after the restructuring. The agreement was to build the first plant in Taylor County, forego the loan until up and running, and paying subsidiaries to the city once the plant was making money. This is not hearsay...it came out of Mr. Copley's mouth.