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1 posted on 08/07/2022 5:36:42 AM PDT by Roman_War_Criminal
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To: Roman_War_Criminal
I know many people want to see the bogeyman and Klaus Schwab everywhere.

However, this calamity is about the family owners potentially engaging in a fraudulent conveyance of stock ownership, and the court throwing the firm into bankruptcy to sort out the mess.

In that process, family owners opted to have the firm go dark vs operate with DIP financing or under receivership.

The receiver is now trying to get the factor (which advances money owed to truckers asap and thus improving cash flow, rather than waiting for customers to pay, by buying the IOUs) back up and running. Truckers are worried lightning could strike again, and want to leave the factor. However, there is a tangled web of liens and releases that have to happen, otherwise the new factor may not get paid via the IOUs.

This is a small business workout situation, and there are thousands that happen annually. This isn't a Soros or Deep State calamity.

2 posted on 08/07/2022 6:12:03 AM PDT by DoodleBob (Gravity’s waiting period is about 9.8 m/s²)
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To: Roman_War_Criminal

I have been in a situation where I had to factor receivables in order to stay in business. Those loan sharks are the kiss of death. Once you reach that condition, you will fail. You are better off to declare bankruptcy and retain a little something.


3 posted on 08/07/2022 6:50:57 AM PDT by GingisK
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