"Philip Brothers has entered the countdown to death!"

Salomon Brothers, when he heard his subordinates' report on the actions of the New York Stock Exchange and the New York Mercantile Exchange against Philip Brothers, John Gufran said with a gloomy face and a long silence.

At this moment, he had a feeling of sadness that a rabbit was dead and a fox was dead.

Although the Philip Brothers company has not yet fallen, in the eyes of John Gufran, it is almost like falling.

He inquired that the Philip Brothers Company could not even replenish the exchange margin due due to the deadline, and the board of directors could even look at this point, which showed that the situation within the Philip Brothers Company was even worse than outsiders imagined.

How bad does this have to be for them to choose to give up!

So in John Guuffran's view, the Philip Brothers company is no longer saved, and even if it is rescued, the Philip Brothers company will change essentially, and if it changes its name again, it will be a different company entirely.

If it can't be saved, then it will be dismembered, and the old financial companies that have been around for sixty or seventy years will disappear.

"Hey, we deserve to fall, even if our company is unlucky......"

Thinking of this, John Guflann's face was as gloomy as water, and he felt the urge to rush to Albert Raphael's house tonight and beat him up.

If it weren't for Albert Raphael, Salomon Brothers would not have been like this!

Although it will not go out of business for the time being, it will also suffer heavy losses, and if the Philip Brothers company falls, most of the pressure will be transferred to their company.

"There must be something wrong here, maybe it's a conspiracy of the Chicago consortium......"

"Forget it, things have come to this point, there is no need to explore the reason, let's buy the futures contract as soon as possible to stop loss......"

Thinking about it, John Guflan immediately walked to the operation room.

......

"Boss, the stock price of Philip Brothers has crashed, should we temporarily stop buying shares?"

While walking quickly to the operation room of Jiuding Securities Company, Toby Morton told Xia Yu.

Xia Yu didn't stop, and said expressionlessly: "Let's take a look at the specific situation first." ”

Toby Moulton didn't say anything more, and followed Xia Yu to the operation room.

Xia Yu even looked at the trading board, and sure enough, it was red, and it almost fell vertically, and there was not much fluctuation.

Let's take a look at the latest stock price after the beat.

Good guys, the stock price has fallen to $4.02 a share, and the market capitalization is $600.3 million, and it is about to fall below $600 million.

(⊙o⊙)...

Just when Xia Yu was stunned, the stock price had fallen to $3.92.

Correspondingly, the market capitalization of Philip Brothers officially fell below $600 million.

And the stock price is still falling, and it is clear that the market has panicked and is scrambling to sell and flee.

But there are not many stupid people in the Wall Street establishment, and they know very well that Philip Brothers has to fall, how can they take over.

And now that Philip Brothers has been linked to bankruptcy, as long as it is officially determined that it will go bankrupt, it will not be long before the stock will be forced to go out of the market, and now it is a matter of buying as much as you lose.

"Boss, there is an emergency situation in Philip Brothers, and the plan we made before is no longer in line, so I suggest that we stop acquiring shares for the time being and wait and see. ”

Seeing that the boss came back to his senses, Toby Moulton immediately said.

Xia Yu bowed slightly: "You're right, I didn't expect the Philip Brothers Company to fall so suddenly, stop the acquisition, it is estimated that the New York Stock Exchange will suspend the listing of the Philip Brothers stock soon, and wait until that time to acquire." ”

Xia Yu is not a god either, this time he misestimated the determination of the Philip Brothers Company to resist, and also underestimated the extent of their losses.

It's normal to think about it, not to mention Xia Yu as an outsider, it is estimated that the directors of Philip Brothers may not know the real assets of the company, after all, no company will be idle and count the company's assets in real time, not to mention that there are more dark sides of old companies, and it is difficult to figure out how many messy assets there are without comprehensive statistics.

Previously, the New York Exchange Commission and the US Exchange Commission were able to investigate and make a conclusion, not because all the assets had been completely calculated, but because the losses of Philip Brothers were too large, and only a rough count of assets was needed to calculate an approximate figure.

It's just an approximate number, it's enough to draw conclusions, after all, the loss is too big!

However, the early collapse of Philip Brothers' company is more beneficial to Xia Yu, just like now, if you want to acquire more than 20% of the equity, how can you save tens of millions or even hundreds of millions of dollars.

At this moment, an employee walked over quickly, and Xia Yu and Toby Moulton turned to look.

I saw the employee greet respectfully and said: "Boss, manager, the latest news, the official gave Philip Brothers a week's time, they must pay off the due debts within a week, and pay the deposit on time, if it can't be done, it will be judged that Philip Brothers is insolvent, and the official will intervene further." ”

"Anything else?" Toby Moulton looked at Xia Yu and then asked the employee.

"No more. ”

The employee shook his head and said, and Toby Moulton encouraged him to keep an eye on the news.

"Boss, it seems that the next week is the most critical period, what should we do?"

Toby Morton looked at Xia Yu and asked, waiting for his instructions.

Xia Yu thought for a while and said: "As soon as something happened to Philip Brothers, high-grade copper futures and aluminum futures rose even more crazy, relying solely on themselves, they will never be able to escape, it depends on whether it is bankruptcy reorganization or bankruptcy liquidation, and the best result is that there is an organization to take over and reorganize." ”

In fact, there are two situations in the bankruptcy procedure of a company, one is bankruptcy reorganization and the other is bankruptcy liquidation, and the two are very different.

Bankruptcy reorganization is to save the continuation of the enterprise, and bankruptcy liquidation is the procedure after the enterprise is eliminated.

The purpose of the former is to actively prevent the bankruptcy of the debtor and reflect the function of increasing the value of its property, while the purpose of bankruptcy liquidation is to passively and fairly distribute the debtor's property, reflecting the distribution function of the property after bankruptcy.

If it is a bankruptcy reorganization, Philip Brothers will still exist as long as it does not change its name, and the bankruptcy liquidation will disappear in a real sense.

Although the U.S. Exchange Commission and the New York Exchange Commission gave Philip Brothers a week, Xia Yu was sure that it could not hide itself.

Although the common cause of bankruptcy is the inability to pay off debts as they fall due, this is a common situation, and it is more important to judge it by two criteria.

The first is whether the debtor has the immediate ability to pay the debts as they fall due;

As it stands, even if the debts of Philip Brothers are not due, they can be judged to be insolvent because the company is insolvent and belongs to the second form.

Not to mention that Xia Yu has already heard that the debts of Philip Brothers and two financial institutions are about to mature, with a cumulative total of more than 400 million US dollars, this money is not easy to come out, and it is not necessarily that any company is willing to take over the debt.

In addition to creditors, Philip Brothers also has to face the problem of the majority of investors to get back their funds, in the absence of formal asset liquidation, investors can get back the funds, as long as Philip Brothers agrees to give, there is money to give!

However, when it comes to formal asset liquidation, the company's assets are frozen, and when it comes to asset distribution, neither investors nor creditors can apply for the assets to be returned.

So it's conceivable that the next week will be overcrowded with investors asking for their money back.

Whether it is given or not, the collapse of the Philip Brothers company will be accelerated.

After considering these, Xia Yu judged that the stock price of Philip Brothers would still fall, and it was possible to fall to two or three hundred million US dollars.

Therefore, he thought for a moment and instructed Toby Moulton: "Toby, you should first make the following preparations: first, to investigate the latest shareholders of Philip Brothers, second, to prepare the VAM conversion agreement, and then to use cash instead of shares to complete the VAM agreement, and third, to prepare for the suspension of the listing of Philip Brothers, and we will take over the shares offline. ”

"I have only one goal, to take down the Philip Brothers!"

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