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<div style="direction:ltr">That assumes new and intelligent management</div>
<div style="direction:ltr">Bankruptcy makes them a debtor in possession (dip)</div>
<div style="direction:ltr">The courts will appoint a manager of the DIP and then post petition financing will be arranged and they will become immediatlely an operational company</div>
<div style="direction:ltr">From that point they will creat a plan to emerge from bankruptcy at the expense of their creditors and suppliers</div>
<div style="direction:ltr">If they cannot emerge then the company will be liquidated</div>
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<div style="direction:ltr">Jon Bruml</div>
<div style="direction:ltr">Techstyles </div>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" color="#000000" style="font-size:11pt"><b>From:</b> NSRCA-discussion <nsrca-discussion-bounces@lists.nsrca.org> on behalf of DaveL322 via NSRCA-discussion <nsrca-discussion@lists.nsrca.org><br>
<b>Sent:</b> Wednesday, January 10, 2018 5:33:17 PM<br>
<b>To:</b> Michael Cohen; General pattern discussion<br>
<b>Subject:</b> Re: [NSRCA-discussion] Hobbico Chapter 11????</font>
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<div><font face="sans-serif">The short of it.... Chap 11 is restructuring, not liquidation and out of business. So the most likely scenario (short term at least) is profitable proprietary / exclusive product lines will continue and less profitable ones will
go away. </font></div>
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<div style="font-size:85%; color:#575757">Regards,</div>
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<div style="font-size:85%; color:#575757">Dave</div>
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<div style="font-size:85%; color:#575757">Sent from my Sprint Samsung Galaxy Note5.</div>
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<div>-------- Original message --------</div>
<div>From: Michael Cohen via NSRCA-discussion <nsrca-discussion@lists.nsrca.org> </div>
<div>Date: 1/10/18 7:59 PM (GMT-05:00) </div>
<div>To: NSRCA <nsrca-discussion@lists.nsrca.org> </div>
<div>Subject: [NSRCA-discussion] Hobbico Chapter 11???? </div>
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<p style="margin-top:0; margin-bottom:0">So, just saw Hobbico is filing for Chapter 11 bankruptcy. Since they own Tower Hobbies and Great Planes AND are a distributor of many lines in the US, what does this mean? I still do buy some things that aren't pattern
related and even though some is from the Local Hobby Shops, if distribution is gone, what happens then?</p>
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<p style="margin-top:0; margin-bottom:0">Mike Cohen</p>
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