Friday, April 26, 2019 3:50:48 PM
If a person wants to declare bankruptcy, they hire an attorney, file with the court and it goes through the process and then gets discharged by the court. Makes sense, right?
But if a person buys a car, gets a loan, and then defaults, the bank can repossess the car without going through the drawn out process. It is not a bankruptcy of the person, but a forfeiture of the collateral for that loan. Still with me?
Trimax did the latter. They incurred debt, they used a vehicle called saavy as collateral, and then defaulted. The creditor repossessed the asset. Saavy. Then, sold that "car" to someone new. Named EKO holdings. They now own the saavy natural asset. But, just like a new owner of a repossessed car has no obligation to anything else the old owner may have been involved in, EKO has no obligation to TRIMAX
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM