EVOQ Properties Inc.(fka EVOQ)

[drsandcrs]

Give Chapter 7 a second thought .....

it was the second amended plan that is about to be published (maybe today) that was out there not Ch 7.... however

i was thinking about Ch 7 a lil more ...... if there is equity in MMPI and they are currently losing money and experiencing negative cash flows then they need to cut their losses and bail on some/most of the properties ....pay the lenders off ..... and return the excess to the shareholders ... a partial CH 7 .....

i think i might be in favor of this ..

anyways the 717 sale ..... did escrow close? ... haven't seen any news releases yet ..... they still owe nearly $10 million, over and above the $86 million Canyon loan, in construction costs and the property has several mechanics liens against it ... this may be holding up the close

maybe it would be a good thing if the Second POR included liquidation and distribution of what's left .... think about it for a minute ...

besides, Meruelo has destroyed wealth and doesn't appear to be much more than a window washer who likes to party ....