 AMDUSERPremium
join:2003-05-28
Earth
kudos:1
 ·RoadRunner Cable
| reply to David
Re: is it just me..... Based on the Bankruptcy filing papers found here: »www.kccllc.net/documents/0911435···0001.pdf (page 10) the company has $24 billion and change in debt with $13 Billion or so in assets.
Even if the company reduces the debt by $8 billion, the company is financially insolvant.. the debt load would be $10-11 Billion. (Essentially about the same amount as the assets.)
If JPMorgan & Co. can prove the fraud allegations- this case may be converted into Chapter 7. (I'm not questioning they can.) Here is their complaint: »www.kccllc.net/documents/0911435···0185.pdf .
Attached is a copy of form 10K filed with the Securities and Exchange Commission. (See page 105 Long term debt, and assets sections.) Form 10K is used to detail a companies financial condition for year ending on December 31,2008. Listed in it, the debt amount listed is $21 billion with assets of about $13 Billion or so. Where about $3 Billion in additional debt came from is unknown. |
