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Cosmic Chi

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Cosmic Chi

Re: bud_fox post# 18613

Friday, 03/04/2016 9:32:44 AM

Friday, March 04, 2016 9:32:44 AM

Post# of 30846
What he said yesterday is that there are 2 outstanding claims against IFCR; the first is for $5M and will be resolved amicably by the end of March/April. The second is not so friendly and is ‘only’ for $2M and this is where the trouble is; apparently it relates to events before DF took over.

BUT

Because of the way the bankruptcy laws are constructed, if they insist on IFCR declaring bankruptcy they will get nothing, nada, zip; so the best they can do is to settle ‘amicably’ – in essence they’re playing hard ball without a ball.

Don’t know the ins and outs of US law so I can’t comment but he seemed to know what he was talking about yesterday – he certainly gets my vote of confidence…
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