Monday, September 12, 2011 11:43:50 PM
Southern Community is aware of the federal tax liens filed against D&D Displays.
Wurth Wood Group is aware of the federal tax liens filed against D&D Displays.
If Wurth Wood Group and Southern Community have: creation of security interest and Perfection of a Financing statement(UCC) prior to the tax lien being filed.. then Both Southern Community and Wurth Wood Group have priority to the SPECIFIC collateral listed in a proper Creation of security interest and properly drafted and filed UCC ...
Both Southern Community and Wurth will now move swiftly... they will take the legal steps in DEMANDING payment in FULL and seize the collateral if payment in full is not made.
It's a death spiral for D&D Displays....the tax lien must be satisfied and removed in order for D&D Displays to have access to any new capital......INCLUDING funds via FACTORING....the factoring company has a limited amount of time to collect on any outstanding invoices funded before the tax lien being filed and 45 days(Sept. 17th) to collect on any invoices funded after the tax lien was filed.
D&D Displays is no more.
Pink Sheets...where failing private companies come to die.
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