Posted by Tim_Mphs/TN on 4/19/07 8:13pm
Msg #186049
HOME123 and New Century
I received a letter today from an attorney representing New Century and a host of other companies, including Home123. Apparently, these companies are all one big group and the group is in the business version of bankruptcy. They have asked the bankruptcy court for permission to sell the assets of the group to a different company (greenleaf something -- I don't have the letter to hand right now). According to the legalese, if the greenleaf buys the assets, all debts of the group will go away. Home123 has owed me $200 for so long that I actually wrote it off last year, figuring that I would never see it since the Nashville office (which originated the mess that led to them owing me $200) closed. Bob Villa must be so embarrased (grin).
If you have any money due to you from Home123 or New Century (anything with New Century in the name), you will want to speak up before April 30, 2007, to try and stop them from selling the assets of that group. (Seems to me that if they sell the assets, some portion of the proceeds should go to all the known creditors, which would include me -- but I do know that business bankruptcy is much slicker at letting companies walk away scot-free than personal bankruptcy is.)
I will post further details (maybe scan and OCR the letter from the attorneys and post the text of it here, if anyone wants to know who all the related companies are ?) upon request.
Any comments on this mess?
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