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Parker and Waichman:
There was a suggestion made my Neal Nelson to divide up the
specified money paid out during a Chapter 11 Bankruptcy reorganization
whenever there was fraud involved. The assets of the company
and even of the corporate executives involved in the fraud should
be divided into two parts. Fifty percent (50%) should be paid out to the
bond-holders, and the other fifty percent (50%) should be paid out to the
defrauded share-holders. Of course, when the fraud is uncovered,
the trading of stocks should be suspended so that the price does
not fall precipitously because of the fraud perpetrated against
the shareholders by the corrupt corporate executives.
Parker and Waichman could make a name for itself in the light
of the WorldCom collapse by approaching the Securities and
Exchange Commission personally to suggest that these reforms
be implemented into the Chapter 11 Bankruptcy process.
Neil Nelson is a shareholder advocate who has been actively
involved in fighting shareholder fraud, and may be contacted
at neal@nna.com. While I have also been actively participating
in trying to reform the Chapter 11 Bankruptcy reorganization
procedures, Neal has even made press releases and taken the
matter to court, etc.
Cordially,
Mark Nelson
new_phoenix@hotmail.com
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