Olympus Corp in real trouble

Started Nov 8, 2011 | Discussions thread
Nigel S
Regular MemberPosts: 494
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Re: Olympus Corp in real trouble
In reply to Richard Briscoe, Nov 9, 2011

Richard Briscoe wrote:

MichaelKJ wrote:

Bankruptcy doesn't remove financial liability for illegal activities. Creditors and shareholders would undoubtedly sue to recoup as much of their losses as possible.

As I don't know the particulars of Japanese bankruptcy law, my comment is with respect to generally accepted principles of bankruptcy. I defer to anyone who has specific knowledge of Japanese bankruptcy procedure.

As they are part of the World Trade Organisation I think it is a safe bet that in the event of bankruptcy the companies assets would be sold off without the liabilities in order to raise cash for the various claims, shareholders etc.

However no money has been lost here, all that has happened is that the real cause of some previously declared losses has been uncovered and so there is no good reason to think that the company is in any trouble.

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