Expo Holdings Inc. (EXPH)

[Acc441]

It most certainly impacts factoring. The factoring company has a limited amount of time to collect on invoices factored PRE-FILING of the tax lien...after the public filing the invoice factoring company is playing with fire since the IRS has the right to any RECEIVABLES....Factoring companies as common practice...once they become aware of the TAX LIENS....require a subordination from the IRS ...and in D&D's case....you would be safe in assuming that the current factoring company has been notified.


IRS manual Federal Tax Liens- Commercial Transaction Financing Agreements- 5.17.2.6.6.1


http://www.irs.gov/irm/part5/irm_05-017-002-cont01.html