|
New Mexico | in the fine print of Chapter 11: the court could actually go back 6 months previous of the filing for all the dough the company had paid out to suppliers etc.
Never seen that pushed before ( not even on deals like ENRON where it should have been pushed ).
Iowa is a very Liberal State now ( they all talk conservative but they are NOT really ).
If what JBD claims is true about the postville attorney claims....a smart producer might just have his banker AND the bank's attorney write up a letter that of course claims 1st and Superior lien on cattle sold. Thus the money is now Gone as it went to pay the original feed and livestock note at the farmer's bank.
btw, that letter needs to be hand delivered to the BK trustee, AND the sparrow in the black cape too.
Ya the the attorneys for agri will squawk....but when the money is gone...well then it's gone.
No different than how things are for their client.
TRUTH is on agri, that the Federal Govt should PAY Everyone anyway. It's the Feds who caused this wreck of a previously successfull business.
Granted the afore Fed action was most likely at the behest of another packer who was just a little more connected than some. Have the Feds fold some competition then end up with more market share from that result.
That's what appeared as happened when the Feds closed Swift and Co a couple years ago. Interesting end to that was that the old foggy usa crooks did not get Swift give to em like they had planned.
Foriegn deal with some youth and skill showed up with some real dough bought the deal.
Color of Law and Misprision of a Felon violations happen EVERY day in the usa.
That is All ignored by the Feds for a reason.
( 99.99% of the time usa Fed employees themselves are in on the deal, and / or connected legal bretherens who receive plenty of cash for these deals too )
Edited by Markwright 12/25/2009 13:33
| |
|
Asoyia files Bankruptcy?
