Replies to post #9278 on New Century Energy Corp (fka NCRE)

[rubellite0013]

Flatsixer,

Thanks for filling in the details for BESV as I was trying to find a somewhat comparable case to NCEY to see if anything can be salvaged for common shareholders as it was for Blast.

[Trueheart]

Flatsixer, thanks for the thoughtful comments.

One good thing we have in the Chapter 11 filing is that it is for reorganization of the company. Chapter 11, as you know, proposes that the business remain alive and creditors are to be paid over time.

A Chapter 7 bankruptcy filing would have liquidated the company.

As you said, there is a timeline for the filing of the disclosure statement and a plan for reorganization to be filed in court.

I can only hope that it is in favor of the common shareholders.

Trueheart

[Fedex11 ©]

imo i think that DeStefano was in the mindset that he could get a loan to cover the whole debt without a big hassle porblem being banks arent really forthcoming with loans right now as they really dont have any money lol.On the other hand Laurus didnt want to play ball either which would give me the feeling that they have had a business deal go wrong as well possibly some sort of bad paper or maybe investments in the mortgage industry just my humble opinion also he went out and hired a CFO hardly something you would do if you saw BK coming down the pipes lol