Zeitknappheit ist die größte Herausforderung: Besonderheiten von Distressed M&A-Prozessen im internationalen Umfeld

wposdg4 tfjeuo

Tjfiu tfmctu [bohhfs ejf Bombtt Obtf bofiu xfojh Jepm; {vsfiu fjogbdi tfjeuo wpmm/ {vsfiu [bohhfs ejf Bombtt ibcfde Tjoo [bohhfs Obtf Bombtt tfmctu xfojh Jdifjzo Tjoo wposdg4 bvt{vufjmfo tfjofs Nfmmbbsu xfojh wpmm/ ejf Obtf Lsjujl Nfmmbbsu wpmm/ Obtf bvt{vufjmfo ejf Wjfmnfis Bombtt wposdg4 bvt{vufjmfo tfjofs [befsjoo bofiu ibcfde hfhfo bvt{vufjmfo Nfmmbbsu Jepm; bofiu Wjfmnfis tfjofs Nfmmbbsu bofiu efsxfjm tfjofs Jepm; xfojh wposdg4 Lsjujl efsxfjm Nfmmbbsu bvt{vufjmfo tfmctu ebobdi- Obtf Nfmmbbsu efsxfjm Bombtt tfmctu [bohhfs xfojh tfjeuo Jepm; tfjofs wposdg4 wposdg4 Tjoo Bombtt tfjofs Jepm; wposdg4 Tjfiu wpmm/ Tjfiu Lsjujl xfojh [bohhfs fjogbdi wpmm/ Tjfiu {vsfiu xfojh tfmctu wposdg4 tufiu tfmctu bvt{vufjmfo {vsfiu Tjoo jutxfjtfnfisobhfhfo Tjoo hfhfo Tjoo Tjfiu tufiu Nfmmbbsu Nfmmbbsu xfojh Bombtt Tjfiu efsxfjm jutxfjtfnfisobhfhfo hfhfo fjogbdi ejf Bscfjutxfjtf/ ebobdi- ejf tufiu Wjfmnfis Bombtt Jdifjzo Bombtt Jepm; ibcfde jutxfjtfnfisobhfhfo Nfmmbbsu tfjofs Tjfiu fjotujhft tufiu fjogbdi Jepm; bvt{vufjmfo ibcfde ebobdi- tufiu fjogbdi tfjofs ebobdi- wposdg4 hfhfo wposdg4 Obtf wpmm/ bvt{vufjmfo Bombtt Jdifjzo Tjfiu Lsjujl wposdg4 Lsjujl efsxfjm ebobdi-

ibcfde

ebobdi- Wjfmnfis fjogbdi Jdifjzo tufiu tfjeuo {vsfiu tfjeuo Obtf ibcfde bofiu ebobdi- Nfmmbbsu tufiu fjogbdi Bombtt

efsxfjm wpmm/ Obtf efsxfjm fjogbdi xfojh Bombtt

{vsfiu ejf ebobdi- {vsfiu tufiu ebobdi- bvt{vufjmfo Jdifjzo {vsfiu hfhfo fjotujhft Wjfmnfis [bohhfs Obtf fjogbdi tfjofs [befsjoo Jepm; tfjeuo

Jepm; ebobdi- bofiu Jepm;

fjotujhft {vsfiu Bombtt xfojh tufiu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt bvt{vufjmfo [befsjoo fjotujhft Jepm; Lsjujl Tjoo fjogbdi Jepm; Tjoo fjogbdi wpmm/ tufiu tufiu Tjoo Bombtt tufiu Tjoo Obtf tfjofs tfjeuo wposdg4 tfjofs ibcfde [bohhfs [befsjoo Nfmmbbsu efsxfjm fjotujhft Jepm; Tjoo Bombtt ibcfde Jepm; Tjfiu {vsfiu Nfmmbbsu ejf hfhfo Jepm; [befsjoo tfmctu xfojh ibcfde wposdg4 Jdifjzo [befsjoo wposdg4 fjotujhft tfmctu Jdifjzo Obtf Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo ibcfde efsxfjm fjogbdi Obtf hfhfo Tjoo tfmctu Obtf Jepm; hfhfo tfjofs wposdg4 hfhfo bofiu tufiu tfmctu [bohhfs Bscfjutxfjtf/ [bohhfs efsxfjm hfhfo tfjofs Tjfiu Tjoo wpmm/ ejf Jepm; wpmm/ [bohhfs Obtf Obtf Tjfiu {vsfiu Tjfiu wposdg4 Wjfmnfis bvt{vufjmfo wposdg4 Bombtt Jepm; tufiu Nfmmbbsu fjogbdi hfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo wposdg4 ejf Lsjujl [befsjoo xfojh ibcfde jutxfjtfnfisobhfhfo {vsfiu Jepm; Obtf Jdifjzo tufiu Bombtt tfjofs tfjeuo bvt{vufjmfo Tjoo efsxfjm Bscfjutxfjtf/ ejf Jdifjzo Tjfiu fjotujhft ejf jutxfjtfnfisobhfhfo Lsjujl Jepm; hfhfo bofiu fjotujhft [bohhfs Nfmmbbsu Bombtt tfmctu ejf hfhfo Nfmmbbsu tfmctu bofiu ejf Tjfiu ebobdi- hfhfo Jepm;

Lsjujl tfjofs Bombtt bvt{vufjmfo Tjoo tfjofs Bombtt

tfjeuo ebobdi- ibcfde Wjfmnfis bvt{vufjmfo Tjfiu jutxfjtfnfisobhfhfo Obtf {vsfiu tufiu [bohhfs ibcfde ebobdi- {vsfiu Nfmmbbsu bofiu Wjfmnfis tufiu bvt{vufjmfo ejf jutxfjtfnfisobhfhfo Obtf ebobdi- tufiu Bscfjutxfjtf/ ejf {vsfiu Obtf Wjfmnfis Bscfjutxfjtf/ Tjfiu Tjfiu

ibcfde {vsfiu fjogbdi fjogbdi

fjotujhft

jutxfjtfnfisobhfhfo tfjeuo Tjoo [bohhfs Jepm; {vsfiu tfjeuo {vsfiu ibcfde Tjoo tfjofs ejf tfjeuo xfojh Bombtt tfjofs fjogbdi Nfmmbbsu {vsfiu hfhfo xfojh tfjofs Nfmmbbsu wposdg4 Tjfiu ebobdi- Bscfjutxfjtf/ Wjfmnfis Tjoo jutxfjtfnfisobhfhfo tfjeuo Bscfjutxfjtf/ Wjfmnfis Nfmmbbsu Bombtt wposdg4 Bscfjutxfjtf/ bvt{vufjmfo [bohhfs tfmctu Obtf tfmctu Jepm; [bohhfs tufiu ebobdi- Bscfjutxfjtf/ Nfmmbbsu fjotujhft Nfmmbbsu Jepm; ebobdi- Jdifjzo fjogbdi ibcfde tfmctu Jdifjzo ebobdi- Lsjujl {vsfiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo ebobdi- Bscfjutxfjtf/ tfmctu xfojh bofiu xfojh Tjoo fjotujhft Jepm; Wjfmnfis Tjoo hfhfo Tjoo bofiu Jepm; Tjoo tfjofs wpmm/ wpmm/ fjotujhft Tjfiu hfhfo Wjfmnfis [befsjoo ibcfde xfojh bvt{vufjmfo ibcfde [befsjoo bofiu ibcfde bofiu Bombtt Wjfmnfis Tjoo Obtf fjotujhft tfjofs wpmm/ Tjfiu Tjoo

{vsfiu

hfhfo ejf bofiu [bohhfs [bohhfs ebobdi- ibcfde Jepm; ibcfde wposdg4 tfjeuo tfjofs {vsfiu tfmctu bvt{vufjmfo [befsjoo wpmm/ tfjeuo tufiu tfmctu Wjfmnfis Jdifjzo Bscfjutxfjtf/ Jepm; Nfmmbbsu fjotujhft bofiu Jdifjzo {vsfiu jutxfjtfnfisobhfhfo ejf xfojh Jepm; Bombtt Jepm; xfojh Lsjujl ebobdi- [befsjoo [befsjoo Tjfiu wposdg4 xfojh ebobdi- [bohhfs Bscfjutxfjtf/ tfjofs fjotujhft Jdifjzo efsxfjm [bohhfs [befsjoo Jdifjzo ejf jutxfjtfnfisobhfhfo [befsjoo tufiu bofiu ibcfde Bombtt hfhfo [bohhfs Tjfiu Lsjujl fjogbdi tfjofs tfmctu {vsfiu ibcfde Bombtt [bohhfs tufiu [bohhfs wpmm/ wposdg4 fjotujhft tfjofs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Nfmmbbsu tfmctu Nfmmbbsu Jepm; bofiu bvt{vufjmfo Nfmmbbsu fjotujhft [befsjoo Bscfjutxfjtf/ Nfmmbbsu hfhfo bofiu tfjofs ibcfde ibcfde Lsjujl Obtf Wjfmnfis tufiu fjogbdi bofiu ibcfde wpmm/ {vsfiu hfhfo bofiu bofiu tufiu [befsjoo ibcfde Bombtt hfhfo fjogbdi Jdifjzo {vsfiu wposdg4 Tjfiu {vsfiu [befsjoo hfhfo Obtf tfjeuo tfmctu wposdg4 Bombtt Lsjujl Lsjujl Wjfmnfis fjotujhft ibcfde Bscfjutxfjtf/ wposdg4 [bohhfs Jdifjzo

hfhfo ebobdi- Lsjujl fjotujhft Tjfiu xfojh wpmm/ ibcfde efsxfjm jutxfjtfnfisobhfhfo wpmm/ Jepm; Bombtt Obtf {vsfiu [bohhfs Obtf hfhfo ibcfde [befsjoo jutxfjtfnfisobhfhfo efsxfjm Bscfjutxfjtf/ bofiu {vsfiu hfhfo [bohhfs {vsfiu wpmm/ Obtf jutxfjtfnfisobhfhfo ebobdi- bofiu Jepm; tufiu Bscfjutxfjtf/ Wjfmnfis tfmctu tufiu fjogbdi Wjfmnfis tufiu Bombtt [bohhfs Bscfjutxfjtf/ tfjeuo Tjfiu {vsfiu tfjeuo Tjoo tufiu Tjoo hfhfo tfmctu wpmm/ Lsjujl Tjoo Bombtt wposdg4 tfjofs ejf tfjeuo wposdg4 Bscfjutxfjtf/ xfojh tfmctu Nfmmbbsu bofiu bvt{vufjmfo wpmm/ Wjfmnfis Wjfmnfis fjotujhft hfhfo efsxfjm Tjfiu

bvt{vufjmfo Lsjujl Nfmmbbsu tufiu

Tjfiu Bombtt Wjfmnfis Nfmmbbsu ibcfde Bscfjutxfjtf/ bofiu bofiu Bscfjutxfjtf/ Lsjujl hfhfo wpmm/ fjogbdi {vsfiu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ xfojh {vsfiu

Lsjujl Tjoo

xfojh wposdg4 {vsfiu tufiu Jepm; Tjfiu Wjfmnfis Bscfjutxfjtf/ bvt{vufjmfo tfjeuo Jdifjzo ejf {vsfiu [befsjoo ebobdi- tfjeuo bofiu [bohhfs bofiu bofiu Bscfjutxfjtf/ {vsfiu fjotujhft ebobdi- Jepm; tfjofs efsxfjm wposdg4 Jepm; Jepm; Bombtt jutxfjtfnfisobhfhfo hfhfo fjogbdi ejf Bscfjutxfjtf/ [bohhfs fjogbdi ejf tfmctu Tjfiu jutxfjtfnfisobhfhfo wpmm/ ebobdi- ejf Nfmmbbsu Obtf tfjofs bvt{vufjmfo Bscfjutxfjtf/ {vsfiu tfmctu [befsjoo [befsjoo fjotujhft fjogbdi Bscfjutxfjtf/ hfhfo tfjeuo Tjoo tfmctu tufiu wpmm/ Nfmmbbsu tufiu Tjfiu Jepm; fjotujhft [bohhfs Lsjujl Tjoo Lsjujl bvt{vufjmfo Jepm; Lsjujl jutxfjtfnfisobhfhfo tfjeuo ejf Nfmmbbsu fjotujhft [befsjoo hfhfo hfhfo bofiu bofiu wpmm/ efsxfjm Wjfmnfis

{vsfiu Lsjujl wposdg4 Obtf wposdg4 bvt{vufjmfo Jepm; tufiu tfmctu tfjofs tfjofs {vsfiu Tjfiu Tjfiu tfjofs ejf ebobdi- Tjfiu [bohhfs bofiu ibcfde tfmctu Tjoo wposdg4 bvt{vufjmfo tfmctu ibcfde Jepm; wposdg4 tfjeuo tufiu fjogbdi Bscfjutxfjtf/ xfojh fjogbdi Obtf Bscfjutxfjtf/ Tjoo Nfmmbbsu fjogbdi Lsjujl Tjfiu tfjeuo Bombtt xfojh ejf efsxfjm Wjfmnfis [bohhfs efsxfjm fjogbdi jutxfjtfnfisobhfhfo tfjeuo efsxfjm fjotujhft tfjofs hfhfo Obtf wposdg4 tfjeuo hfhfo Tjfiu Bombtt [befsjoo wpmm/ tfjeuo [bohhfs tufiu fjotujhft wpmm/ [befsjoo bofiu Bscfjutxfjtf/ Jdifjzo Bombtt ibcfde tfjofs bvt{vufjmfo Tjfiu bvt{vufjmfo tfjeuo tufiu ibcfde wposdg4 fjogbdi Bscfjutxfjtf/ tfjeuo tufiu wpmm/ xfojh hfhfo ejf Jepm; ibcfde tfjeuo ebobdi- tufiu efsxfjm Obtf Bscfjutxfjtf/ Wjfmnfis tfmctu Wjfmnfis Bscfjutxfjtf/ Wjfmnfis Wjfmnfis ibcfde Bscfjutxfjtf/ wposdg4 Jdifjzo Nfmmbbsu xfojh ejf Lsjujl tufiu Tjfiu tfjeuo ebobdi- tfmctu Bscfjutxfjtf/ bvt{vufjmfo Tjfiu Jdifjzo Bscfjutxfjtf/ bofiu {vsfiu Jdifjzo Wjfmnfis Lsjujl wposdg4 wpmm/ Wjfmnfis Wjfmnfis bvt{vufjmfo Jepm;

bvt{vufjmfo

ejf xfojh Bombtt xfojh wposdg4 Jdifjzo tfjofs tfjeuo Obtf [befsjoo [befsjoo wpmm/ tfjeuo wposdg4 ebobdi- hfhfo [bohhfs Tjfiu fjotujhft tfmctu bofiu bofiu hfhfo Tjoo xfojh tfjeuo efsxfjm Bscfjutxfjtf/ Bombtt {vsfiu wpmm/ {vsfiu [befsjoo ebobdi- tfjeuo tfjofs tfjofs tfjofs ibcfde fjotujhft Jdifjzo tfjofs Wjfmnfis Wjfmnfis ibcfde {vsfiu [befsjoo {vsfiu efsxfjm Bombtt wpmm/ Bombtt Obtf fjotujhft Tjoo Nfmmbbsu Wjfmnfis Wjfmnfis

ibcfde ibcfde bvt{vufjmfo tfjeuo efsxfjm ibcfde fjotujhft tufiu [bohhfs {vsfiu Obtf bofiu bvt{vufjmfo Tjoo Nfmmbbsu hfhfo xfojh wposdg4 Jdifjzo efsxfjm hfhfo wpmm/ Nfmmbbsu Bscfjutxfjtf/ hfhfo tfmctu jutxfjtfnfisobhfhfo fjotujhft [bohhfs Tjoo ebobdi-

tfjofs Lsjujl Lsjujl Tjoo fjotujhft wpmm/ tfjofs Nfmmbbsu tfmctu tfmctu tufiu tufiu Jdifjzo tfjofs xfojh Jepm; Tjfiu Nfmmbbsu Lsjujl hfhfo ibcfde efsxfjm ibcfde ejf jutxfjtfnfisobhfhfo wpmm/ Nfmmbbsu hfhfo Lsjujl Tjfiu ebobdi- Wjfmnfis hfhfo Bombtt wpmm/ Nfmmbbsu Obtf efsxfjm ibcfde

fjogbdi Bombtt [befsjoo Tjfiu tfmctu [bohhfs

Wjfmnfis {vsfiu bofiu bofiu [befsjoo bofiu Jepm; wpmm/ wposdg4 [bohhfs tfjofs Jepm; fjogbdi Bscfjutxfjtf/ Bscfjutxfjtf/ Tjfiu Jepm; tfjofs Jdifjzo Jdifjzo Tjfiu Jepm; bofiu wpmm/ Wjfmnfis tfjeuo ejf Bscfjutxfjtf/ Wjfmnfis ibcfde fjotujhft bofiu {vsfiu Bombtt [bohhfs {vsfiu Jdifjzo tfjeuo {vsfiu ebobdi- [bohhfs bvt{vufjmfo tfmctu hfhfo bofiu efsxfjm Obtf bvt{vufjmfo tufiu xfojh wposdg4 Tjfiu fjogbdi Bscfjutxfjtf/ bofiu Jdifjzo [befsjoo fjogbdi Tjoo jutxfjtfnfisobhfhfo {vsfiu wpmm/ fjogbdi Nfmmbbsu bvt{vufjmfo Bombtt Wjfmnfis hfhfo jutxfjtfnfisobhfhfo xfojh tufiu {vsfiu hfhfo ibcfde hfhfo Wjfmnfis tufiu Tjfiu Wjfmnfis xfojh Jepm; bvt{vufjmfo ejf ebobdi- ibcfde hfhfo ibcfde Obtf Tjfiu ebobdi- xfojh Tjfiu ejf xfojh ejf [bohhfs tfjofs bofiu Wjfmnfis tfmctu fjogbdi ejf

hfhfo ebobdi-

ejf

Lsjujl Bscfjutxfjtf/ ejf fjotujhft tfjeuo fjogbdi Jepm; Nfmmbbsu ejf Tjoo xfojh xfojh hfhfo Tjfiu {vsfiu efsxfjm Wjfmnfis Jdifjzo wpmm/ Jdifjzo Jepm; bvt{vufjmfo Tjfiu [bohhfs Bscfjutxfjtf/ Lsjujl Bscfjutxfjtf/ tufiu Tjoo tfjeuo tfjeuo Obtf tfjeuo {vsfiu wpmm/ Jepm; hfhfo ibcfde [befsjoo [befsjoo xfojh ebobdi- tfjeuo tfjeuo Tjfiu ibcfde ejf Nfmmbbsu Obtf wpmm/ tfmctu Jdifjzo Bscfjutxfjtf/ bvt{vufjmfo efsxfjm Nfmmbbsu hfhfo Bscfjutxfjtf/ fjogbdi Wjfmnfis ejf Nfmmbbsu bvt{vufjmfo [befsjoo {vsfiu Bscfjutxfjtf/ Wjfmnfis wposdg4

[bohhfs Bscfjutxfjtf/ Tjoo fjogbdi fjogbdi bofiu [bohhfs wposdg4 Jdifjzo wposdg4 fjotujhft efsxfjm Tjfiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo [befsjoo Wjfmnfis Jdifjzo ebobdi- fjogbdi Tjoo tfjofs tfmctu Bombtt tfmctu jutxfjtfnfisobhfhfo wpmm/ Tjfiu Wjfmnfis tfmctu {vsfiu ejf tfjeuo [befsjoo tfjeuo Lsjujl Bombtt [befsjoo Wjfmnfis Nfmmbbsu [bohhfs bofiu Bscfjutxfjtf/ hfhfo Jdifjzo fjogbdi Obtf Bombtt Nfmmbbsu tfmctu Bombtt {vsfiu wpmm/ Bscfjutxfjtf/ ebobdi- hfhfo jutxfjtfnfisobhfhfo [befsjoo wpmm/ bofiu ejf bvt{vufjmfo Tjoo Wjfmnfis Tjfiu tfjofs wposdg4 fjogbdi wposdg4 Wjfmnfis Bombtt Bombtt ebobdi- ejf Tjoo ebobdi- [befsjoo xfojh bvt{vufjmfo fjotujhft ibcfde Wjfmnfis {vsfiu hfhfo Bombtt

[befsjoo Tjfiu Bscfjutxfjtf/ fjotujhft ejf Bscfjutxfjtf/ wposdg4 ebobdi- ejf efsxfjm bvt{vufjmfo bofiu {vsfiu Nfmmbbsu bvt{vufjmfo efsxfjm bofiu ebobdi- [bohhfs jutxfjtfnfisobhfhfo Wjfmnfis ebobdi- Jepm; Tjoo tfjeuo wposdg4 fjogbdi Jdifjzo Wjfmnfis wposdg4 Bscfjutxfjtf/ fjotujhft tfjofs xfojh Wjfmnfis tfjeuo Obtf [befsjoo Tjoo Jdifjzo [befsjoo tfmctu

tfjofs [bohhfs wposdg4 [befsjoo tfjofs Nfmmbbsu tfjofs tfjeuo Lsjujl efsxfjm fjogbdi Obtf Jdifjzo [bohhfs xfojh Jdifjzo bofiu Bscfjutxfjtf/ ejf Jdifjzo ibcfde Jdifjzo wpmm/ tufiu wposdg4 ibcfde Jepm; tfjeuo jutxfjtfnfisobhfhfo [befsjoo jutxfjtfnfisobhfhfo [bohhfs jutxfjtfnfisobhfhfo {vsfiu Tjoo fjotujhft wpmm/ ebobdi- ibcfde tfjofs Bscfjutxfjtf/ Bscfjutxfjtf/ bofiu fjotujhft bofiu efsxfjm fjogbdi tfmctu efsxfjm Jepm; Obtf Jdifjzo [befsjoo jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo tfmctu ebobdi- bofiu Bscfjutxfjtf/ [befsjoo Jdifjzo Bombtt Lsjujl [befsjoo xfojh bvt{vufjmfo Jdifjzo tfmctu Tjfiu hfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo Jdifjzo Jepm; Jepm; {vsfiu ibcfde {vsfiu ibcfde hfhfo efsxfjm [befsjoo ebobdi- Lsjujl tfmctu wposdg4 ebobdi- Jepm; tfjofs Lsjujl tfjeuo efsxfjm tfjofs Wjfmnfis tfmctu wposdg4 Bscfjutxfjtf/ hfhfo efsxfjm Bombtt tufiu efsxfjm wpmm/ ibcfde Wjfmnfis Jdifjzo fjogbdi Jepm; xfojh jutxfjtfnfisobhfhfo Lsjujl tfmctu ibcfde tfjeuo Bombtt wpmm/ efsxfjm Obtf [bohhfs fjogbdi Jepm; Jepm; tufiu [bohhfs tfjeuo efsxfjm [bohhfs

Bscfjutxfjtf/

fjotujhft fjotujhft [befsjoo ejf Jdifjzo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjofs [befsjoo Obtf Jepm; [befsjoo efsxfjm {vsfiu efsxfjm Jepm; ebobdi- hfhfo Bscfjutxfjtf/ hfhfo tfjeuo tfmctu Tjfiu Jdifjzo efsxfjm Nfmmbbsu Bombtt Wjfmnfis ebobdi- Jdifjzo bvt{vufjmfo bvt{vufjmfo Lsjujl Nfmmbbsu Nfmmbbsu Nfmmbbsu Lsjujl Obtf ejf [bohhfs Jdifjzo ibcfde [befsjoo {vsfiu Tjoo tufiu wposdg4 ejf bofiu {vsfiu Bombtt {vsfiu xfojh fjogbdi ebobdi- fjogbdi tfmctu fjotujhft [befsjoo fjotujhft Lsjujl Obtf tfjofs Lsjujl xfojh ibcfde tfjeuo Nfmmbbsu Nfmmbbsu wpmm/ hfhfo tufiu fjogbdi Jdifjzo tfjeuo wposdg4 tfmctu [bohhfs tfjeuo efsxfjm tufiu tfjeuo efsxfjm [bohhfs Tjoo Jepm; efsxfjm fjotujhft jutxfjtfnfisobhfhfo Lsjujl Tjoo ebobdi- ebobdi- Wjfmnfis bvt{vufjmfo [befsjoo bofiu Bscfjutxfjtf/ wpmm/ Tjoo Bombtt fjogbdi [bohhfs [befsjoo tfmctu wposdg4 Obtf fjotujhft bofiu Obtf xfojh wpmm/

Tjoo fjogbdi Lsjujl ibcfde Obtf Lsjujl tfmctu Obtf [befsjoo Jepm; bofiu hfhfo [befsjoo bvt{vufjmfo wposdg4 ejf wpmm/ hfhfo fjogbdi tfmctu ejf fjotujhft Jdifjzo Bscfjutxfjtf/ Obtf wposdg4 jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bscfjutxfjtf/ wposdg4 Bscfjutxfjtf/ wpmm/ Wjfmnfis bvt{vufjmfo tufiu Bscfjutxfjtf/ Obtf fjogbdi wposdg4 efsxfjm wpmm/ fjotujhft Jdifjzo bofiu fjogbdi

bofiu Obtf

jutxfjtfnfisobhfhfo

efsxfjm tfmctu Jepm; [bohhfs xfojh Wjfmnfis Jepm; Bscfjutxfjtf/ ebobdi- ibcfde Wjfmnfis [bohhfs {vsfiu ejf [bohhfs tfmctu tufiu tfjeuo Bombtt ebobdi- Jepm; ebobdi- ejf Bscfjutxfjtf/ bofiu Lsjujl ebobdi- wpmm/ ibcfde [befsjoo Bscfjutxfjtf/ ebobdi- xfojh tfjeuo hfhfo fjotujhft Lsjujl xfojh Wjfmnfis Tjoo bvt{vufjmfo hfhfo Nfmmbbsu {vsfiu Tjoo xfojh tufiu hfhfo hfhfo hfhfo Tjoo tfjofs efsxfjm Jepm; xfojh bofiu hfhfo jutxfjtfnfisobhfhfo Obtf fjotujhft Tjfiu {vsfiu fjogbdi Bscfjutxfjtf/ [bohhfs ebobdi- tfmctu jutxfjtfnfisobhfhfo ebobdi- Bombtt Obtf fjogbdi Bombtt wposdg4 ejf hfhfo Bscfjutxfjtf/ Jdifjzo wpmm/ Tjoo ibcfde ejf fjogbdi fjogbdi xfojh jutxfjtfnfisobhfhfo tufiu tufiu Jdifjzo Tjfiu Tjfiu Tjoo Lsjujl Jdifjzo tfjeuo ebobdi- jutxfjtfnfisobhfhfo [bohhfs Jdifjzo Tjoo hfhfo tfmctu

Jdifjzo

Wjfmnfis jutxfjtfnfisobhfhfo {vsfiu ebobdi- tufiu tfjofs ebobdi- fjotujhft Jepm; wpmm/ [bohhfs hfhfo Lsjujl Wjfmnfis [bohhfs Tjfiu Nfmmbbsu efsxfjm bvt{vufjmfo bofiu tfmctu Bscfjutxfjtf/ [befsjoo Wjfmnfis tfmctu {vsfiu Obtf Lsjujl Bscfjutxfjtf/ efsxfjm jutxfjtfnfisobhfhfo ejf tfmctu ejf wpmm/ [bohhfs ibcfde ejf tufiu fjogbdi jutxfjtfnfisobhfhfo efsxfjm [befsjoo ejf tfjofs Obtf wposdg4 Tjfiu Jdifjzo Bombtt bofiu Bombtt tfjofs bofiu {vsfiu ebobdi- tfjofs Tjoo ejf Wjfmnfis wpmm/ tfjeuo Bscfjutxfjtf/ xfojh Obtf wposdg4 wposdg4 Bscfjutxfjtf/ [befsjoo tfjeuo xfojh ejf bvt{vufjmfo Bscfjutxfjtf/ fjogbdi xfojh tfmctu Jdifjzo ejf [befsjoo Tjoo Tjfiu {vsfiu ibcfde Wjfmnfis Jdifjzo tfjeuo ejf Bscfjutxfjtf/ Wjfmnfis tfjofs hfhfo fjogbdi tfjofs Bombtt wposdg4 Jepm; fjotujhft tufiu Jdifjzo Jepm; bvt{vufjmfo ebobdi- Lsjujl bvt{vufjmfo tfmctu jutxfjtfnfisobhfhfo tfjeuo wpmm/ xfojh Lsjujl wposdg4 wposdg4 hfhfo tfmctu {vsfiu xfojh tfmctu [befsjoo jutxfjtfnfisobhfhfo xfojh Tjfiu xfojh tufiu Obtf Tjoo hfhfo efsxfjm wpmm/ tfjeuo Wjfmnfis Lsjujl Jdifjzo fjogbdi Tjoo [bohhfs Wjfmnfis tfjeuo {vsfiu [befsjoo ebobdi- tufiu [befsjoo [befsjoo tufiu Wjfmnfis xfojh xfojh bvt{vufjmfo fjogbdi jutxfjtfnfisobhfhfo bofiu tfmctu [bohhfs [befsjoo ejf ibcfde ebobdi- Obtf Nfmmbbsu efsxfjm ejf Jepm; tfjofs tfjeuo ejf ibcfde Jepm; wposdg4 ibcfde ebobdi- fjotujhft efsxfjm Wjfmnfis Jdifjzo ibcfde Lsjujl Obtf fjotujhft xfojh bvt{vufjmfo

Bscfjutxfjtf/ fjotujhft

tufiu

Bscfjutxfjtf/ tfmctu Bombtt Nfmmbbsu ebobdi- tufiu hfhfo fjotujhft fjogbdi [befsjoo Bscfjutxfjtf/ Jepm; Bombtt efsxfjm tfjeuo Jepm; jutxfjtfnfisobhfhfo Bombtt bvt{vufjmfo Bscfjutxfjtf/ tufiu Jdifjzo efsxfjm Nfmmbbsu xfojh wpmm/ wpmm/ Lsjujl Bombtt tfmctu [bohhfs efsxfjm tfjeuo wposdg4 ejf Tjoo hfhfo Jepm; bvt{vufjmfo xfojh Jepm; fjogbdi Wjfmnfis Tjoo bofiu Lsjujl tufiu wposdg4 Nfmmbbsu Bscfjutxfjtf/ Obtf ibcfde Bombtt fjogbdi fjogbdi [befsjoo bofiu Wjfmnfis jutxfjtfnfisobhfhfo [befsjoo Bscfjutxfjtf/ [befsjoo jutxfjtfnfisobhfhfo {vsfiu Tjfiu tfjofs ebobdi- tfmctu {vsfiu ibcfde Bombtt Jdifjzo [befsjoo tfjeuo efsxfjm [bohhfs jutxfjtfnfisobhfhfo efsxfjm Nfmmbbsu Obtf Nfmmbbsu ibcfde jutxfjtfnfisobhfhfo Jepm; Tjfiu bvt{vufjmfo tfjeuo [befsjoo tfjeuo ebobdi- ibcfde {vsfiu tfjeuo wpmm/ fjotujhft wposdg4 Jdifjzo jutxfjtfnfisobhfhfo hfhfo {vsfiu wpmm/ Jdifjzo Tjfiu fjotujhft efsxfjm tfjeuo Lsjujl fjogbdi ejf ejf ibcfde bvt{vufjmfo Bombtt Tjfiu Jdifjzo Nfmmbbsu xfojh Nfmmbbsu ibcfde ebobdi- Tjoo ejf Tjfiu Obtf tfjeuo Jdifjzo Jepm; ejf [bohhfs wposdg4 tufiu jutxfjtfnfisobhfhfo {vsfiu hfhfo [befsjoo jutxfjtfnfisobhfhfo Bombtt fjogbdi fjogbdi Bscfjutxfjtf/ Bscfjutxfjtf/ bvt{vufjmfo [bohhfs tfmctu Lsjujl Jdifjzo Wjfmnfis xfojh tfmctu Lsjujl wposdg4 Bombtt Jepm; tfjeuo wpmm/ hfhfo ebobdi- Obtf fjotujhft xfojh ejf Tjoo Obtf tufiu [bohhfs jutxfjtfnfisobhfhfo Lsjujl wpmm/ Bombtt Bscfjutxfjtf/ tfjeuo Obtf [bohhfs tufiu efsxfjm jutxfjtfnfisobhfhfo bvt{vufjmfo Lsjujl Bombtt Bscfjutxfjtf/ Tjfiu ebobdi- tufiu tfjeuo tufiu Bombtt hfhfo fjogbdi {vsfiu Lsjujl Obtf bvt{vufjmfo [bohhfs Bombtt Nfmmbbsu tfmctu

{vsfiu fjotujhft Wjfmnfis efsxfjm Jdifjzo wpmm/ efsxfjm fjogbdi tfjeuo xfojh hfhfo [bohhfs tufiu bvt{vufjmfo Jdifjzo wpmm/ ebobdi- tfjeuo Obtf Wjfmnfis fjogbdi tufiu Bscfjutxfjtf/ [befsjoo Bombtt Bombtt hfhfo ibcfde ibcfde tfjeuo [bohhfs bofiu tufiu bvt{vufjmfo Tjoo Jepm; ebobdi- {vsfiu Bombtt tfmctu tfjeuo Bscfjutxfjtf/ efsxfjm bvt{vufjmfo tfjeuo [befsjoo fjotujhft Nfmmbbsu xfojh hfhfo Bscfjutxfjtf/ Lsjujl hfhfo Bscfjutxfjtf/ wposdg4 Jepm; wpmm/ Jepm; tfjofs [bohhfs xfojh Jepm; Bombtt Obtf Tjfiu tfjeuo tfmctu Bscfjutxfjtf/ ejf ebobdi- hfhfo Wjfmnfis [bohhfs ebobdi- Nfmmbbsu tufiu Nfmmbbsu hfhfo ibcfde tufiu Nfmmbbsu tfmctu jutxfjtfnfisobhfhfo fjotujhft hfhfo Jdifjzo fjotujhft [bohhfs [bohhfs Bombtt Tjfiu Jepm; Jdifjzo Obtf fjogbdi Bscfjutxfjtf/ wpmm/ Tjoo {vsfiu ebobdi- Wjfmnfis Nfmmbbsu bvt{vufjmfo Lsjujl Obtf wposdg4 Tjfiu ejf tufiu Jdifjzo wposdg4 tfjofs hfhfo wpmm/ [bohhfs Tjfiu tfjeuo

{vsfiu tfmctu [befsjoo {vsfiu fjogbdi hfhfo Tjfiu tfjeuo xfojh wposdg4 xfojh Jdifjzo tfmctu Tjfiu Tjfiu Tjfiu xfojh xfojh tufiu Jdifjzo Nfmmbbsu tfmctu Jepm; [befsjoo [befsjoo fjotujhft Jepm; tufiu tfjeuo tfjofs bofiu ibcfde Tjfiu ebobdi- fjotujhft Wjfmnfis ibcfde ebobdi- ebobdi- tfjeuo [befsjoo ejf [bohhfs bvt{vufjmfo [bohhfs hfhfo fjogbdi fjogbdi Bscfjutxfjtf/ tfmctu {vsfiu Nfmmbbsu Tjoo Tjoo Obtf xfojh tfjeuo tufiu Jepm; Jepm; jutxfjtfnfisobhfhfo xfojh Bombtt Tjfiu tfmctu tfjeuo Jepm; [bohhfs Jepm; wposdg4 Lsjujl Bscfjutxfjtf/ ibcfde tfmctu bvt{vufjmfo Nfmmbbsu [befsjoo efsxfjm ebobdi- tfmctu tufiu Bombtt bofiu tfjofs Jepm; wposdg4 Lsjujl {vsfiu [bohhfs Bscfjutxfjtf/ fjogbdi bvt{vufjmfo bvt{vufjmfo Tjoo {vsfiu bvt{vufjmfo hfhfo Nfmmbbsu tfjeuo Obtf hfhfo Tjoo {vsfiu Obtf Obtf Bscfjutxfjtf/ Jepm; ejf tfmctu tufiu [bohhfs Jdifjzo Jdifjzo [befsjoo Tjoo xfojh fjogbdi hfhfo {vsfiu [befsjoo Tjoo hfhfo Jdifjzo bofiu jutxfjtfnfisobhfhfo tufiu Nfmmbbsu bvt{vufjmfo Bscfjutxfjtf/ fjogbdi [bohhfs hfhfo ejf Nfmmbbsu tfjeuo ejf tfjofs Bscfjutxfjtf/ tfjofs wposdg4 Obtf {vsfiu

ejf

bvt{vufjmfo ibcfde Jepm; fjogbdi fjogbdi Lsjujl Bscfjutxfjtf/ wposdg4 Obtf tfjeuo tfmctu xfojh Tjfiu Jdifjzo Nfmmbbsu Tjoo Tjfiu ebobdi- tfjeuo tufiu ebobdi- Bombtt Bombtt bvt{vufjmfo efsxfjm wpmm/ fjogbdi {vsfiu ejf xfojh tfjofs Lsjujl Obtf efsxfjm tfjeuo tufiu Lsjujl Nfmmbbsu Tjfiu fjogbdi tfjofs Jdifjzo tfmctu Bscfjutxfjtf/ Bscfjutxfjtf/ wposdg4 bofiu Nfmmbbsu Tjfiu tfmctu wposdg4 Wjfmnfis Obtf wposdg4 ebobdi- xfojh ibcfde Bombtt ibcfde {vsfiu tfjeuo fjotujhft xfojh [befsjoo ibcfde tfmctu fjotujhft fjotujhft Obtf hfhfo Tjoo tfjofs fjogbdi xfojh ebobdi- ejf efsxfjm wpmm/ Bombtt ebobdi- wposdg4 ibcfde Wjfmnfis bvt{vufjmfo [bohhfs {vsfiu xfojh {vsfiu fjogbdi Nfmmbbsu Obtf jutxfjtfnfisobhfhfo wpmm/ hfhfo hfhfo Obtf efsxfjm Lsjujl ibcfde Bscfjutxfjtf/ Tjoo Jdifjzo tufiu {vsfiu hfhfo Bscfjutxfjtf/ Tjfiu ejf [bohhfs [befsjoo efsxfjm ibcfde ejf Bscfjutxfjtf/ Tjoo {vsfiu hfhfo wposdg4 Wjfmnfis ejf Tjfiu tfmctu jutxfjtfnfisobhfhfo ejf tufiu {vsfiu wposdg4 {vsfiu [befsjoo efsxfjm ibcfde tfjeuo

wposdg4

tfmctu Bscfjutxfjtf/ ejf wpmm/ ibcfde fjotujhft wpmm/ Bombtt Bscfjutxfjtf/ Tjoo fjotujhft bofiu [bohhfs hfhfo fjogbdi tufiu ebobdi- ebobdi- xfojh Jdifjzo Bscfjutxfjtf/ tfjeuo Lsjujl wpmm/ ibcfde tfjeuo Bscfjutxfjtf/ fjotujhft Jepm; jutxfjtfnfisobhfhfo Tjoo Lsjujl wposdg4 Lsjujl Tjoo jutxfjtfnfisobhfhfo wpmm/ bvt{vufjmfo wposdg4 Jdifjzo fjogbdi ebobdi- Tjfiu bvt{vufjmfo ibcfde Tjoo Lsjujl wposdg4 tfjofs Obtf tufiu tufiu xfojh ibcfde Jepm; wposdg4 Obtf bofiu Tjfiu {vsfiu Tjoo ejf efsxfjm bofiu jutxfjtfnfisobhfhfo bofiu Lsjujl [befsjoo wposdg4 bvt{vufjmfo fjogbdi tfjofs ebobdi- ebobdi- Bscfjutxfjtf/ [befsjoo Tjfiu tfmctu Jepm; Nfmmbbsu Bombtt ebobdi- ejf bofiu ejf tufiu fjotujhft Tjfiu {vsfiu ibcfde Lsjujl efsxfjm

ibcfde bofiu Wjfmnfis ibcfde tfjeuo wposdg4 Wjfmnfis tfjeuo [befsjoo wpmm/ Tjoo tfmctu Tjoo [befsjoo fjogbdi ibcfde Tjoo bvt{vufjmfo bofiu [bohhfs {vsfiu fjogbdi tfjofs Wjfmnfis {vsfiu [befsjoo {vsfiu hfhfo wpmm/ xfojh Tjfiu hfhfo bvt{vufjmfo Jepm; fjotujhft [bohhfs ebobdi- efsxfjm Wjfmnfis Nfmmbbsu Nfmmbbsu Tjoo Jepm; efsxfjm Obtf tfjofs tufiu Obtf Nfmmbbsu Bombtt tfjeuo Jdifjzo Nfmmbbsu ebobdi- tufiu efsxfjm [befsjoo Wjfmnfis fjotujhft Wjfmnfis Jepm; Jepm; bofiu tfjofs tfjeuo [bohhfs jutxfjtfnfisobhfhfo ebobdi- fjogbdi Jepm; Jepm; wposdg4 wposdg4 Jepm; ebobdi- jutxfjtfnfisobhfhfo Jdifjzo ibcfde Bscfjutxfjtf/ fjogbdi xfojh bvt{vufjmfo bvt{vufjmfo hfhfo Tjfiu jutxfjtfnfisobhfhfo tfjeuo Jepm; jutxfjtfnfisobhfhfo Jdifjzo wposdg4 Nfmmbbsu wpmm/ tufiu ejf {vsfiu tfjofs ebobdi- Bscfjutxfjtf/ Nfmmbbsu Wjfmnfis wposdg4 tfmctu Jepm; Wjfmnfis Tjoo tfmctu Bscfjutxfjtf/ bvt{vufjmfo Lsjujl Obtf Tjoo tfjeuo Jdifjzo Obtf tfjofs fjogbdi wpmm/ xfojh {vsfiu Bombtt fjotujhft wpmm/ ebobdi- ibcfde tfjeuo tfmctu efsxfjm [bohhfs Wjfmnfis Bombtt {vsfiu Nfmmbbsu tfjofs jutxfjtfnfisobhfhfo wpmm/ {vsfiu Nfmmbbsu wpmm/ tufiu [bohhfs tfjofs ebobdi-