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Old 12-31-2010, 12:40 AM   #21
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Re: EarthRoamer files for Bankruptcy

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Originally Posted by webbmac
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Originally Posted by SMBDAD
They will be back, but under different name. You borrow to the hilt under one company, build yourself a nice new facility and place it under a different name, then go BK on the money owed. Nice! To have 250,000 in assets and owe 6.8 million, somone new this day was coming and planned well for it! Criminals.
How is this done? Chapter 7 means total liquidation. If you know, can you please tell me so I can do it? What about the bankers that didn't do the due diligence on behalf of the govt. but collected the fees, leaving the govt (SBA) holding the bag? Shouldn't they be convicted of something if anyone, or at least give the fees back?
Theres one way to do it.
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Old 12-31-2010, 12:43 AM   #22
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Re: EarthRoamer files for Bankruptcy

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Originally Posted by EMrider

I'd say going bankrupt and losing all the net worth and sweat poured into the business is hardly a 'reward'. The company is dead.

R
Company is not dead. Live and well with the same owners just debt free now.
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Old 12-31-2010, 09:25 AM   #23
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Re: EarthRoamer files for Bankruptcy

Ah, the (new) American dream....
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