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this relates to lakefield and bronner whing about losing control of the company in BK.Several creditors must file a involuntary petition which forces the court to appoint a trustee to run the company and toss out current executives.
Thats contradictory. Is it, or is not oa BK POSSIBLE???? Rest assured, the company WILL file BK!!700UW said:I just stated what the terms in the ATSB loan contain.
And the IAM fully believes there will be a bankruptcy filing.
[post="175218"][/post]
OK, F A I R E N O U G H. What I am saying then, Is that is what WILL happen. The company WILL GO INTO BK!!! Tha sooner, the better :blink: GOOD DAY!!700UW said:Let me type this S L O W L Y
The company by the provisions of the ATSB loan are prevented from filing a voluntary filing.
Three or more creditors can file a involuntary chapter 11 forcing the company into bankruptcy and the judge will have to appoint a trustee to run the company and the executives lose control.
[post="175289"][/post]
700UW said:Let me type this S L O W L Y
The company by the provisions of the ATSB loan are prevented from filing a voluntary filing.
Three or more creditors can file a involuntary chapter 11 forcing the company into bankruptcy and the judge will have to appoint a trustee to run the company and the executives lose control.
[post="175289"][/post]
700UW said:Let me type this S L O W L Y
The company by the provisions of the ATSB loan are prevented from filing a voluntary filing.
Three or more creditors can file a involuntary chapter 11 forcing the company into bankruptcy and the judge will have to appoint a trustee to run the company and the executives lose control.
[post="175289"][/post]