Smith Corona (SCO) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Smith Corona (SCO)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: who wrote ()	2/5/1997 10:47:00 PM
From: usesi	of 10

The stock is listed as SMHCQ or SMHCQ.OB Also this story came out: Monday February 3 4:31 PM EST Smith Corona and banks will settle - lawyer WILMINGTON, Del, Feb 3 (Reuter) - An attorney for Chase Manhattan Corp and Bankamerica Corp Illinois unit said in court Monday that a settlement has been reached in the banks' attempt to block Smith Corona Corp's SMHCQ.OB reorganization plan. "This deal is pretty solid" banks' attorney William Hazeltine told Judge Roderick McKelvie of the U.S. District Court in Delaware. The banks provided Smith Corona with debtor-in-possession financing. Smith Corona spokeswoman Rivian Bell told Reuters that while February 7 is no longer the effective date of the plan, she expects the settlement documentation will be completed for a court hearing Thursday. "We'll know better then what the new effective date will be. No more than one to two weeks though," Bell said. At today's hearing McKelvie was to consider a motion that he stay Smith Corona's plan for emerging from Chapter 11 protection while the banks appealed last week's bankruptcy court order approving it. The banks assert that even their legal claims in possible future lawsuits are recoverable in full as administrative claims and cannot be capped at the $650,000 provided for in Smith Corona's reorganization plan. In court last week the banks claimed their legal bills would be closer to $1 million if creditors sued to recover a pre-bankruptcy transfer of assets. Smith Corona makes personal word processors and portable electric typewriters. The company filed for chapter 11 protection on July 5, 1995. Tue Feb 4 3:54AM Eastern U.S. Time -- U.S. Markets Closed. Hope this helps

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next