479 IV Re: WAG: Bankruptcy filing date << Prev Next >>
by: ColonelZen	IP: 46.29	rated: 0-0	posted: 2007-09-08 21:50:27
Msg: 41528 of 41628 9/7/2007 11:38:56 PM Recs: 13 Sentiment: Not Disclosed   By: ColonelZen Send PM Profile Ignore Add To Favorites   Posted as a reply to msg 41522 by rfc3501   Re: WAG: Bankruptcy filing date       I'm tempted to agree, except that I was wrong on similar logic before - I had expected SCOX to fold before the SJ's could issue for much the same reasons.     Given the earlier interview, McBride is either on too many meds or not enough. I suspect that Yarro has written SCOX off in his mind and realizes there's now no way to practically distance himself (I wonder how much of the last few weeks' high volume was him selling?) so he's gone limp and letting Darl do as he pleases. (I also suspect this is why Darl is suddenly talking - the boss doesn't care anymore and told him to have fun).     Presuming Darl wasn't lying his ass off for public consumption (poor move - I think he's set himself up bigtime with that interview for SEC + stockholder action - the cherry on top the froth of his personal bankruptcy decree and possible jail time) he's totally blind to the reality and won't go to BK until forced.     So the question becomes when will he be forced?     It could be less than two weeks from today. We could concievably see on the 21st or 22nd, Kimball say "This court orders an immediate trust of X dollars to be set aside. Counsel for Plaintiff, does your client currently possess or immediately obtain X in liquid assets? No? This court orders an immediate conservancy and remands it to the bankruptcy court of Utah .... your client's officers will not enter the premises nor issue any orders regarding the corporation or its property unless authorized by the bankrupcy court..."     More likely K will take it "under advisement" to write a ruling... but given that the ruling will be the amount to order into trust, he won't take long.     My guess is four weeks from today, Oct 5.     -- TWZ