Kudlow and Company now report that NWAC has filed but with $1.7 Billion cash on hand. The idea seems to be that the company hopes to go through bankruptcy without DIP financing. This raises the possibility that share holders will not lose all. The stock is trading as if there is still equity for shareholders; but a risky situation. I will study the situation late tonight.
Wednesday, September 14, 2005
NWAC BANKRUPTCY
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