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kruy

05/27/11 12:11 PM

#132 RE: ilenes #131

So if I understand correctly, any monies from the sale of the shell would be handled like all other assets with shareholders of record at time of disbursement being last in line. The most likely "payout" would be in the form of pps trading based on infused value by new owner, if any, and supply and demand with possible adverse risk in regards adjustments to sharestructure, i.e. reverse split followed by issuance of shares by the new owner of shell.

Thanks again for your knowledgeable input as I have never held a stock involved in chapter 7, and hope you stick around to provede us with any facts that may pertain to this situation.

Appreciate your help and hope you have a pleasant holiday weekend.
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kruy

05/27/11 12:21 PM

#133 RE: ilenes #131

One other question. Is it possible(however unlikely) for a company to withdraw chapter 7 proceedings once filed if say someone with funds or whatever is needed steps in during the course of the proceedings, and if so, up to what point?

again, thank you and have a great weekend.