Reply #6: Not necessarily. [View All]

[Statistical]

Liabilities routinely get spun off in bankruptcy court.

Just ask GM creditors. Old GM dies -> new GM emerges and creditors claim is left w/ old GM (which is nearly worthless).

New GM has plenty of cash & assets but the creditors claim is with "Old GM" and they will be lucky to get $0.02 on the dollar when all is said and done.

That being said BP isn't going bankrupt. Maybe BP gets out of the RETAIL portion of business in the US but they aren't going bankrupt.

Retail operations aren't necessary to sell oil. Ever seen a Saudi Arabian gas station? Where did the 369 million barrels of oil we imported from them last year end up?