the problem is that it looks like imperial was buying life contingent payments on customers to high ages (e.g. 90). how do you think imperial was valuing this on its books. i'd like to be a fly on the wall when the new directors look at the shenanigans that were going on at imperial.
What happened today? Down nearly 5% and nearly 10x the normal trading volume. How an they value their assts when no buyer will touch them, IMHO. They have been trying to sell their policies for some time and the market is discounting them accordingly. They owe their LPIC carrier for alot of advances in 2010, again IMHO, and are essentially outof the life settlement market. Granted they are keeping alot of attorneys quite happy with all the litigation. Again, IMHO.