Colt’s out of the barn

breakingviews :: Can Colt avoid insolvency? Highberry, part of the hedge fund Elliott Group, believes the UK telecoms group cannot. The fund suggests Colt would be technically insolvent if it wrote down the value of its assets to a level that Highberry thinks is justified by its estimate of their future cash flows. Continue reading Colt’s out of the barn

Qwest is lying : Anderson

WSJ.com – Arthur Andersen Warned Qwest About Risk of Swaps :: As early as 2000, outside auditors at Qwest Communications International Inc. regarded the company’s use of revenue-enhancing swap transactions as a potential risk for the company, warning that the Securities and Exchange Commission was already “vigorously” challenging some of its financial practices. Continue reading Qwest is lying : Anderson

Ebbers, Nacchio, Others in Hot Water

WSJ.com – Ebbers, Nacchio, Others Face Suit Over Hot IPOs ::New York State Attorney General Eliot Spitzer announced Monday that he is filing a civil suit against former WorldCom CEO Bernard Ebbers and four other top telecom executives over charges that the executives received shares of hot IPOs in exchange for steering their companies’ underwriting … Continue reading Ebbers, Nacchio, Others in Hot Water