corporate bankruptcy laws

corporate bankruptcy laws

Here is something to consider. Many of you are now faced with difficult financial situations and look for ways to get through this recession. Some from you, on the other hand, from a position of strength, money, and look forward to the advantage of a great opportunity to use.

Here is a anecdote, as the banks have to deal with the same circumstances.

A client and dear friend of mine has an 8 million U.S. dollars commercial building. His tenant has tough times before and will be forced to sell to a private investor. Whether the current tenant pays, or if a new tenant is found, one thing is certain: the amount of income is generated by the construction will certainly be cut in coming months, perhaps even 50%.

Faced with the dilemma as that person (his bank with a the largest in the country) and asked if they would renegotiate the loan and give some pretty hefty prepayment penalties. The loan officer rather castigated my friend told him: "… when interest rates were higher, as you would when we come to you and asked you to feel pay a higher rate?"

Could Depending on your perspective, the Bank's response appropriate and justifiable, if not for the second half of the story. The candidates for the current Tenant is the investment division of a large national bank. The Bank, as the new owner of the company will reorganize "under bankruptcy law and away 40 million U.S. dollars of debt, which includes the current lease for my friend's foot commercial building.

I guess the question is, why it is good and acceptable Business practice for American companies to a different set of standards than the operation set for the typical consumer? And what occurs first, irresponsible behavior the consumer or offensive or acceptable business practices by institutions?

Dan Prudhomme is a Realtor with Carolina Realty on Hilton Head Island, South Carolina. As the premier company for Hilton Head Real Estate the Carolina Realty team works tirelessly for their clients. Dan invites you to search all the best Hilton Head homes for sale at his website: TheBestAddessinTown.com.

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