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Re: rpt post# 212149

Friday, 04/17/2009 3:24:24 PM

Friday, April 17, 2009 3:24:24 PM

Post# of 247064
Sounds to me like WF called the line after covenants being broken. Hackett's was able to repay part of the total ($3,000,000 I believe was said). However, paying this and not having a credit line going forward leaves many angry vendors...who are in a subordinate position to the bank. They are the one's petitioning the court for liquidation....

And the bank's hold on the assets follows Tom's gimmick of creating other companies - and moving assets into them.

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