GREY:TBTEF - Post by User
Post by
powermanon Apr 24, 2016 6:41pm
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Post# 24804461
Receivership
Receivership TBE may realize the lenders do not have confidence in them and bring in a receiver this week to take control of the assets of a corporation. A receiver takes contol and operates the business and or liquidate the assets in order to maximize the value for secured creditors. Bond holders and other unsecured creditors have to stand in line for the scraps. Now if the lenders put them into bankruptcy next week a trustee will be appointed to wind down the business. In either case, thats what happens to outfits that can't pay their debts. For whatever reason; We have 5 business days left. DF
Thats it for outfits that don't pay their bills.