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Originally Posted by CoachKandSportsguy
seems like that would be a first, but lets hope so!
The value is in the assets, physical mostly. . the bankruptcy is in the debt portion being bigger than the asset portion. . .
TVH didn't hide anything, they just found a payment loophole and exploited it until they got caught. . The buyers saw an extremely profitable company and was looking to either buy it, get in on the profitability, ie competitive intelligence, or bankrupt it and buy the physical assets as distressed property.
having worked in M&A along time ago, many interested buyers are also looking for competitive intelligence, even after signing an NDA. . for their own interests. .
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How can you make a statement that they just found a payment loophole? Illegally billing incorrect billing codes is not a loophole, it is fraud no different than a collision center billing an insurance company for new original OEM parts and installing non OEM or used parts.thay is a general problem with society today, lack of accountability. Who pays for their overrbilling? Everyone who pays employment taxes.