So MJ owes Bank of America $270M. Sounds like Bank of America is in more trouble than MJ. I wouldn't want to be the guy at B of A who has to explain writing off that "bad debt".
So MJ owes Bank of America $270M. Sounds like Bank of America is in more trouble than MJ. I wouldn't want to be the guy at B of A who has to explain writing off that "bad debt"."
I'm at a loss to see how there will be a debt to write off. The catalog has a value, and until it is sold, one cannot call it a bad debt. There is a good chance the Bank will make a profit on the deal, selling the catalog.