Replies to post #1914 on Penn Traffic Co. (fka PTFCQ)

[Mukphly]

Sure would like too know why the value of the NOL & shell weren't recognized as an asset. Had to be enough value there to make the effort of liquidating them worthwhile.

That's the part that pisses me off, for I thought the shell & NOL package was our safety net against what has now passed. The judge eliminated millions of dollars that should have went towards the company's debts & did so w/o any explanation why. (that I am aware of anyhow) If anyone ever comes across a given explanation for this please, PLEASE, post a copy of it here.

Take care everyone. Hope the write off is helpful come mid April & better luck w/ future plays.

[sal32647]

The company will keep 1 common share for the pending dissolution of the company. It also says that the company will not keep any shares for future issuance, other than the administrator of the plan will keep 1 share for the purpose of keeping the company's corporate existence pending dissolution. Could that mean that there is still a chance for them to sell the shell?