RE:Taat owes big moneyTaat global debts have nothing to do with taat intl llc as some would like you to believe -Lingcod
_____________
Actually TAAT Global Alternatives Inc is the parent company. The parent company has many subsidiaries.
The liabilities of these subsidiaries show on the parent TAAT Global Alternatives Inc as liabilities on the parent balance sheet. That's how accounting works.
Conversely when ANY of TAAT Global Alternatives Inc subsidiaries shed liabilities, that is reflected on the parent company TAAT Global Alternatives Inc balance sheet.
So when TAAT International LLC by Chapter11V sheds $15,995,497.67 of it's liabilities, so will the parent TAAT Global Alternatives Inc.
If you doubt that I suggest you look at the financials and look up the lease liabilities in Las Vegas for an example.
You may not like that TAAT Global Alternatives Inc gets to eventually shed $15,995,408.67 in liabilities (clean slate) but others will see the tremendous upsides.