The Speculative Stocks....

[vbin]

(04-02-2020, 09:56 AM)Otter Wrote:

(04-02-2020, 09:53 AM)fenders53 Wrote:

(04-01-2020, 02:38 PM)vbin Wrote: @fenders53 bankruptcies have started. Whitening patrolium filled it.

If the SA article was correct they also paid out HUGE bonus money to upper management literally a week ago prior to filing CH11 and it's made right.  I'm just going to hope that is illegal. And we cry the government wants to make rules.  smh

That can be clawed back by the trustee in bankruptcy. It is, in all likelihood, a fraudulent transfer that occurred while the company was technically insolvent:

https://www.law.cornell.edu/uscode/text/11/548

It all looks pre-arranged to me. Share holders value will be lost while creditors and management will get something. The company continues after ch 11.

I think the real negetive news in oil has to be when companies start plugging the wells. That hasn't come out yet.