So for the past several months I've been wading through piles and piles of bankruptcy paperwork -- 456 dockets so far, to be exact -- to try and discern a clue about what the hell is going to happen and when. And tonight I think I've finally discovered why this has taken so, so long -- but still no indication to when something's going to happen.
Two big documents I discovered -- one was a hidden objection to the motion to reject the lease, filed by the landlords at my facility. I missed this one initially because it was buried in a motion pertaining to Chicago locations. The objection was two-fold -- one, that the language was very vague in the original motion to an extent that is not admissible; two -- that a motion to reject the lease is premature because my company was hunting for buyers to sell to. (Also, in the course of the objection, the landlords assert their right to assume complete and full control of the premises on date of rejection, should it happen -- a validation of my 'chains on the doors' theory -- yep, it really could happen. I wasn't very far off on that at all.)
Ahhhhh.
The other document -- an itemized bill from legal counsel. Bankruptcy requires transparency, and flipping through the logs for June, one discovers that...YES. My location had an interested buyer, complete with Asset Purchase Agreements and Bills of Sale drawn up, who subsequently disappeared after June 12 -- the same day above mentioned objection was filed.
Am I through the looking glass yet? I seriously doubt it, but somehow I think this may drag out even further. They're going to try and sell the location rather than have it rejected, because they can get money off that. But there will come a point that they're running out of time... and I hope that's very soon, because I've taken a couple of gambles now. There's still a few weeks to let the chips fall and the dust settle, but still -- this is scary.
Incidentally, I've really gotten to hate my job as it is right now. I don't think I've ever done anything harder (mentally at least) than pull myself up to go into work every day. I've been through some really tough stuff in my life, too, so that's saying something!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment