Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (171980)	6/12/2002 9:29:21 AM
From: JRI	Respond to of 436258

OT Anyone familiar w/bankruptcy law (chapters 7,11,13) and small companies (how the process works, length of time, etc.)? A partner and I have been looking at buying a company ('s assets), but company is technically insolvent, and we (and creditors) could force/let into bankruptcy (if we want). Just don't know if that's right strategy. (We could lose out on asset bid?) Owner has not been straight-up on all issues. Core business is actually solid, stable, and big cash flow positive but owner terrible manager. (financial, otherwise). We have concerns about potential liens (his debtors) against assets after a straight-up sale (say, if owner does not agree to settle w/his creditors at close, and fails to afterwards). Please PM me. Thanks.