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Recently I attended a talk by a lawyer on
bankruptcy investing. It was quite interesting. He mentioned that one way
of determining whether a company might emerge intact is to look at the
reasons for the bankruptcy. It the company has a single issue, like K-Mart
(get rid of their leases), then they probably will emerge intact. If the company
has multiple issues like Enron, particularly with criminal charges a
possibility, it is likely that it will disappear.
The speaker mentioned a book by one of his
colleagues, "Bankruptcy Investing: .........." , author Branch. He did warn that
the book is not easy reading. Get the newer edition.
Lionel Issen<A
href="mailto:lissen@xxxxxxxxxxxxxx";>lissen@xxxxxxxxxxxxxx
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