RE:Bad debtsObvious yes, but until now they have claimed that it was all collectable. Just not very proactive in the way they handeled it. Letting there Q lapse and throwing this out there the way they have is very poor. Instead of getting ahead of this problem with an explination and a plan they delt with it in the poorest most obscure way posible. Seems to be a trend for these guys.
checkup wrote: It has been pretty obvious that the Accounts Receivables were a problem and likely should have been addressed before this. Last I looked they had 140 million in A/Rs. It is a common issue in the States. Insurance companies don't pay.