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Msg  4525 of 13357  at  3/26/2010 4:49:03 PM  by


 In response to msg 4524 by  nmvranian
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Re: Why is IOC down so much today?

You know other lawyers are going to pile on from whatever angle they can. I am very very long IOC and lost a ton of money in todays slaughter. It does not help to have Phil talking about bankrupsy and the difficulty in raising money for growth and development if this goes foreward. Its not going to be thrown out. He agrees that a settlement is needed.
 1) How are other lawyers going to pile on? This lawsuit represents the participants in a 15 yr old partnership, that's it who else is going to pile in?  Lets not forget the statue of limitation and that the filing you read on behalf of the participants is totally one sided, their side only. If Minkow provided the whole story you would see Phil's filings as well in the matter, funny that didn't happen.
 2) Phil has to discuss bankruptcy in bankruptcy court, that was to do with the limited partnership from the 90's  not IOC today. Of course he is going to lay it out for the judge the harm this could do to IOC, you have to show possible damages to plead your case but lets not forget context in a court room  does not have a direct connection on  future reality.  Phil does not own IOC, it is a public company , HQ in another country, two different entities here, it is a stretch to suggest IOC the corporation has fault in this matter.
 3) How do you know it is not going to get thrown out, let a judge decide that? Reading the participants case is hardly the way to decide this for yourself.  It would be good to hear both sides, the judge will.
 4) Who agrees that a settlement is needed? The judge on the partnership bankruptcy case doesn't care, Phil is fighting this, he isn't agreeing to settle, who is agreeing a settlement is needed? 
You are forgetting the many firewalls that exist in corporate American that limit liability, this in the end could be Phil's problem alone (if it is a problem) and IOC will have little or no involvement.   Don't pass judgement until you get the whole story, you can be sure Minkow and Lobdel are delivering anything but the whole story , that's the game.


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Msg # Subject Author Recs Date Posted
4526 Re: Why is IOC down so much today? nmvranian 0 3/26/2010 5:16:10 PM

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