Replies to post #21373 on Kentucky Energy (fka QMIN)

[oryx]

Protect the longs?

I think the bankruptcy filing is the only way to protect the longs!

Why would Eugene do anything that would protect the people he needs to get money out of? Get it through your head- bankruptcy will wipe out all the longs. Creditors get first crack at any assets- and there is way more debt than assets. Nothing left over for the longs after the creditors are through- and even they won't get all their money back. And all this is assuming that all the shares aren't simply cancelled in the course of the bankruptcy. Either way, the longs are wiped out completely.