[wplug] Stargate Chapter 11?

[Sal Mangiapane]

Call it what you want.  Chapter 11 lets them rewrite ALL contracts.  That is with vendors, customers and employees.  If they have a
positive cash flow they should be able to use convention means (bank loan etc...) to restructure their debt.  There has to be
something they "do not want to pay for" or they want to "discontinue services from vendors or to customers".  They must have chosen
chapter 11 because of the ability it gives them to BREAK contracts (with court approval).

sal
> -----Original Message-----
> From: wplug-admin at wplug.org [mailto:wplug-admin at wplug.org]On Behalf Of
> Paris Lundis
> Sent: Wednesday, April 09, 2003 9:31 AM
> To: wplug at wplug.org; wplug at wplug.org
> Subject: Re: [wplug] Stargate Chapter 11?
>
>
> Consider it debt restructuring... not per-se a sign of an unhealthy
> company, just a method to deal with difficult credit issuers, payment
> terms, etc.
>
> A nice method of renegotiating contract terms.
>
> -paris
>
> At 08:25 AM 4/9/2003, Henry Umansky wrote:
> >Thats kinda interesting, because on their webpage, they boasted about
> >strong 4th quarter growth.
> >
> >http://www.stargate.net/html/news.html
> >
> >Ohh how the tides have turned (support your local ISPs).
> >
> >-Henry
> >
> >--On Wednesday, April 09, 2003 2:27 AM -0400 Hoss <hoss at telerama.com> wrote:r
> >
> >>http://pittsburgh.bizjournals.com/pittsburgh/stories/2003/04/07/daily24.h
> >>tml
> >
> >
> >
> >Henry Umansky
> >hmust2 [at] pitt [dot] edu
> >http://www.pitt.edu/~hmust2
> >
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