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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Travis_Bickle who wrote (88726)9/10/2007 8:25:59 PM
From: Think4YourselfRead Replies (1) of 306849
 
Do you think their failure to timely file is, in and of itself, a breach of contract? I read the contract wording in the court filings. It clearly and unambiguously states that BZH must send the report to the bondholders within 15 days of their actually filing it, not from when it is due. I wouldn't think bondholders have a leg to stand on if they are using that portion of the contract wording. Whether it is reasonable or not is something the courts generally won't address. Since both parties agreed to the contract it is considered reasonable to the parties.

Whether the notice is valid or not, BZH still has 60 days to get the report filed to remedy the "breach". Suspect these days you can go by their headquarters any time day or night and see lights on inside. If they can't finish their audit and file within 60 days it could be game over for Beazer.
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