What's the Best Hot Tub

Author Topic: Re: I got an email  (Read 11717 times)

Brewman

  • Ultimate Member
  • *****
  • Posts: 4092
  • Lead me not into temptation- I can find it myself!
Re: I got an email
« Reply #30 on: January 29, 2007, 09:48:56 pm »
Quote

Jim probably has himself coverd by being incorporated,(house and bank accounts)  but I wonder if John could go after the corp and seize assests?  I doubt the property is listed as an asset  but the truck/camper and forklift and tools are probably listed as capital by the corp that John could sieze and auction off.


Unless they were already security for other loans, in which case the first secured interest would have dibbs, and only if the loan securing them went into default.
  If this is the case, the assets can't be sold unless the loan securing them is paid, and the collateral is released by the leinholder.  I'm wondering how much of any of the trucks, forklifts, etc... are owned outright, or haven't been used to secure re-financing?
  If there are any assets to seize worth anything, you'd have to prove a loan to the corporation went unpaid.  Sounds like a big stinky mess.
  I bet the books at that business are in really good shape. ::)


« Last Edit: January 29, 2007, 09:50:53 pm by Brewman »
Brewman

Hot Tub Forum

Re: I got an email
« Reply #30 on: January 29, 2007, 09:48:56 pm »

autoplay

  • Full Member
  • ***
  • Posts: 904
Re: I got an email
« Reply #31 on: January 29, 2007, 10:50:28 pm »
Quote

Unless they were already security for other loans, in which case the first secured interest would have dibbs, and only if the loan securing them went into default.
  If this is the case, the assets can't be sold unless the loan securing them is paid, and the collateral is released by the leinholder.  I'm wondering how much of any of the trucks, forklifts, etc... are owned outright, or haven't been used to secure re-financing?
  If there are any assets to seize worth anything, you'd have to prove a loan to the corporation went unpaid.  Sounds like a big stinky mess.
  I bet the books at that business are in really good shape. ::)



Wife and I discussed that at dinner.  We laffed and both aggreed debtors/leins have to be satisfied prior.

How much would Conjunas 16th B-day sweater be worth these days,on EBAY?  Would imagine lots as,it holds magical powers!

East_TX_Spa

  • Mentor Level Member
  • ******
  • Posts: 5687
  • 30 Year HotSpring Spa Dealer
    • I Love My Spa
Re: I got an email
« Reply #32 on: January 30, 2007, 05:28:52 pm »
Quote
I will say this though, the email came from the SANE side of the family  ;D

It's not too late to do your best John Kerry impersonation, just so you know.

Terminator
Just layin' low and chucklin' in my stomach wif' da fidgets...

Reese

  • Full Member
  • ***
  • Posts: 498
Re: I got an email
« Reply #33 on: January 31, 2007, 01:21:51 am »
Quote
It's not too late to do your best John Kerry impersonation, just so you know.
Naw, Doc wouldn't do that -- he's a "Uniter, not a Divider"!  Besides, since he got the ball rolling... I'm sure:  "Mission Accomplished"! ;)
« Last Edit: January 31, 2007, 01:32:52 am by Reese »

Hot Tub Forum

Re: I got an email
« Reply #33 on: January 31, 2007, 01:21:51 am »

 

Home    Buying Guide    Featured Products    Forums    Reviews    About    Contact   
Copyright ©1998-2024, Whats The Best, Inc. All rights reserved. Site by Take 42