v3 Chapter 873： Stock price crash, strategic adjustment

"Philip Brothers has entered the countdown to death!"

Solomon Brothers, when he heard his subordinates report the actions of the New York Exchange Commission and the New York Mercantile Exchange against Philip Brothers, John Goufran looked gloomy and said with emotion for a long time.

At this moment, he has a feeling of sadness.

Although the Phillips Brothers Company has not fallen yet, in the eyes of John Gufran, it is almost falling.

He inquired that Philip Brothers could not even replenish the exchange deposits overdue. The board of directors can look directly at this point. It shows that the internal situation of Philip Brothers is worse than outsiders thought.

How bad does it need to be before they can choose to give up!

So in John Gooflan’s view, Philip Brothers is out of help. Even if it is rescued, Philip Brothers will undergo essential changes. If it changes its name, it will be another company.

If you can't save it, you will be dismembered, and the old financial company of 60 or 70 years will disappear.

"Hey, falling down deserves it, just let our company follow the bad luck..."

Thinking of this, John Gufran looked gloomy and had the urge to rush to Albert Raphael’s house tonight to beat him up.

If it weren't for Albert Raphael, how could Salomon Brothers be like this!

Although it will not go bankrupt for the time being, it still has serious losses. If the Philip Brothers company collapses, most of the pressure will be transferred to their company.

"There must be a problem, maybe it's the conspiracy of the Chicago Consortium..."

"Forget it, things have reached this point, there is no need to explore the reasons anymore, it is better to buy the futures contract to stop the loss as soon as possible..."

After thinking about it, John Gufran walked to the operating room immediately.

……

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

As he walked quickly to the operation room of Jiuding Securities Company, Toby Morton told Xia Yu.

Xia Yu kept walking and said blankly: "Look at the specific situation first."

Toby Morton stopped talking, and followed Xia Yu to the operating room.

Xia Yu even looked at the trading board, and it turned out to be red, and it fell almost vertically, with little fluctuation.

Look at the latest stock price after the jump.

Good guy, the stock price has fallen to US$4.02 per share, and the market value is US$603 million, which is about to fall below US$600 million.

(Ooo)...

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

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

And the stock price is still falling all the way, obviously the market has panic and is rushing to sell out first.

But there are not many stupid people in Wall Street institutions. It is clear that Philip Brothers is still going down, how could it take over.

And now that Philip Brothers has been linked to bankruptcy, as long as it is officially determined that it will go bankrupt, the stock will be forced out of the market in a short time, and now it is the amount of money that you buy.

"Boss, the Phillips Brothers company is in an unexpected situation. The plan we made before is no longer in line with it. I suggest that we temporarily stop the stock acquisition and wait and see."

Seeing the boss recover, Toby Morton said immediately.

Xia Yu nodded slightly and said: "You are right. I didn't expect Philip Brothers to fall so suddenly. Stop the acquisition. It is estimated that the New York Stock Exchange will suspend the listing of Philip Brothers' stock in the near future, and wait for that time to buy. "

Xia Yu is not a **** either. This time he misestimated the determination of Philip Brothers to resist and underestimated the extent of their losses.

It is normal to think about it. Let alone 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 painful to count the company’s assets in real time, let alone Established companies have more dark sides, without comprehensive statistics, it is difficult to figure out how many messy assets there are.

Before the New York Board of Trade and the U.S. Board of Trade were able to make a conclusion after investigating in one day, it was not because all the assets had been fully calculated, but the losses of Philip Brothers were too large. Only rough statistics on the assets can be used to calculate the approximate figures.

is just a rough figure, enough to draw a conclusion, after all, the loss is too big!

However, the premature collapse of Phillips Brothers 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.

Just then, an employee walked over quickly, and Xia Yu and Toby Morton turned to look.

I saw the employees respectfully greeted them and said: "Boss, manager, the latest news, the official gave Philip Brothers a week, they must pay off the due debts within a week, and pay the security deposit on time. If you do If it fails, it will be judged that Philip Brothers is insolvent, and the government will intervene further."

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

"No more."

The employee shook his head and said, Toby Morton encouraged him to continue paying attention to the news.

"Boss, the next week seems to be 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: "When something happened to Phillip Brothers, high-grade copper futures and aluminum futures went up even more frantically. Relying on them alone is absolutely impossible to avoid. It depends on bankruptcy reorganization or bankruptcy liquidation, the best result. It means reorganization after an organization takes over."

In fact, there are two situations in a company's bankruptcy proceedings, one is bankruptcy reorganization, and the other is bankruptcy liquidation. The two are very different.

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

The purpose of the former is to actively prevent the debtor’s bankruptcy and reflect the function of its property appreciation, while the purpose of bankruptcy liquidation is to passively and fairly distribute the debtor’s property, which reflects the function of distributing the property after bankruptcy.

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

Although the common cause of bankruptcy is the failure to pay off the due debts, this is a common situation, and more importantly, two criteria are used to judge.

The first is whether the debtor has the immediate ability to pay off the due debt; the second is whether the debtor’s assets are sufficient to cover all its debts (whether due or not).

According to the current situation, even if the debt of Philip Brothers is not due, it can be judged to be insolvent, because the company is already insolvent and belongs to the second form.

Not to mention that Xia Yu has already inquired that the debts between Philip Brothers and the two financial institutions are about to expire. The cumulative total of more than 400 million U.S. dollars is not easy to take out, and no company is willing to take over the debt. .

In addition to creditors, Philip Brothers has to face the problem of investors getting back funds. Before entering the formal asset liquidation process, investors can get back the funds As long as Phillip Brothers Agree to give, money to give!

But when it enters the formal asset liquidation, the company’s assets are frozen. At this time, the issue of asset allocation is involved. No matter whether it is an investor or a creditor, no application for asset recovery can be filed.

So it is conceivable that in the next week, Philip Brothers will be overcrowded and surrounded by investors claiming funds.

Regardless of whether it is given or not, Philip Brothers will collapse more quickly.

After considering these, Xia Yu judged that the share price of Philip Brothers was still falling, and it was possible to drop to two or three billion US dollars.

So he thought about it for a moment, and told Toby Morton: "Torby, you first make the following preparations: first, investigate the latest shareholder situation of Phillip Brothers; second, be ready to bet on the conversion agreement. Cash replaces stocks to complete the gambling agreement; third, we are ready to suspend the listing of Philip Brothers and we will take over the stock offline."

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