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re: What happens if BP North American files for bankruptcy??
Posted on 6/7/10 at 11:41 am to Sid in Lakeshore
Posted on 6/7/10 at 11:41 am to Sid in Lakeshore
The game changed dramatically since the last distribution was given to shareholders. Did you know that insurance went up last Monday 50% on all oil & gas rigs operating across the globe? Calculate the factors like that and the significant loss of BP related contracts for its subsidiaries because of this spill and the enormity of their financial situation becomes clear.
1
Posted on 6/7/10 at 11:49 am to MrLSU
Still $15B dividend for one quarter seems like a LOT of profit. If this dividend is consistent with what they usaully declare I can't see any way this will bankrupt them.
If it is way above normal, maybe they are looting the company in preparation for bankruptcy. I really do no tknow.
I however believe that any sums due from this accident (or any other currnet or future liabilities) will be amortized over an extended time period. Creditors would be insane to force bankruptcy when they could in essence join forces with BP by working out an amortization. Who wouldn't loan them the money given their vast holdings and untapped reserves.
I guess you could get 0.05 - 0.10 on the dollar form bankruptcy though.
If it is way above normal, maybe they are looting the company in preparation for bankruptcy. I really do no tknow.
I however believe that any sums due from this accident (or any other currnet or future liabilities) will be amortized over an extended time period. Creditors would be insane to force bankruptcy when they could in essence join forces with BP by working out an amortization. Who wouldn't loan them the money given their vast holdings and untapped reserves.
I guess you could get 0.05 - 0.10 on the dollar form bankruptcy though.
Posted on 6/7/10 at 12:43 pm to Sid in Lakeshore
I believe they are paying 8%
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