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What does it mean for the lawsuit?

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Lawrence R.

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Mar 27, 2007
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Certified General Appraiser
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South Carolina
If BOA buys CW, what happens to all the pending litigation? How do you fine a company that doesn't exist? Who goes to jail and for what?

Basically, what happens now?
 

Ray Miller

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Feb 20, 2002
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Could it just dry up and go away?
 

Jill Kinnaird

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Depends on how the lawyers write it up. I think BOA has plenty of legal minds to figure out how not to become entangled in CW's mess. I don't know what state's law would govern the issue either. Since the Fed's are enacting all this 'save the little people' legislation wonder if they could push through something ensuring that entities, whether alive or dead, would be held responsible for their lack of ethics and greed. Wait, there already are laws for this! How about enforcing them!!
 

Mr Rex

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BOA accepts all the assets and liabilities. That includes pending lawsuits etc.
 

Mr Rex

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North Carolina
Thats not CNBC news, its the law.
 

Mike Boyd

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ALL corporations have officers and other players that can still be held criminally liable for fraud.
 

Terrel L. Shields

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Arkansas
Thats not CNBC news, its the law.
exactly. That's why Halliburton went to $11 a share several years ago. They bought out a company with asbestos liability. The settlement was a whopper and not accounted for to such an extent by Halliburton, and the stock tanked then rebounded. Once they went to Iraq the stock went crazy...
 

Lawrence R.

Thread Starter
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Mar 27, 2007
Professional Status
Certified General Appraiser
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South Carolina
Then perhaps we should all be poised to snap up some BOA stock when the get whalloped...and then wait for us to send them to Iraq! LOL.
 

hastalavista

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May 16, 2005
Professional Status
Certified General Appraiser
State
California
BOA accepts all the assets and liabilities. That includes pending lawsuits etc.

M-

I would think they would try to get indemnification from those suits, no?
I can't imagine purchasing CW with known-to-exist but as-yet-undefined litigation liability. :shrug:

(but they haven't engaged me in the negotiations, so what do I know? :icon_wink: )
 
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