Thursday, March 08, 2012

The Sky Tumbling Down

STATUS: Only 65 emails in the inbox to start the day!

What’s playing on the XM or iPod right now? I FEEL THE EARTH MOVE by Carole King

Wait! What is that I hear? I think it's the wind whistling down Park Avenue and through the Dorchester non-existent office space.

In a world where information is found in a quick Google search, why try and dissemble?

Here is a link to a notice to Dorchester of foreclosure for the note and a sale of the assets that were pledged as security on a loan.

Back to my question. Why do I say that I don't think I'll see a bankruptcy filing soon? By the way, this is not a statement of fact. Simply a supposition on my part.

I don't think Dorchester will file unless forced to. It's costly to file and go through the process. Meanwhile, monies are coming in and not being paid out.

Last year when my lawyer and I sat in on the phone calls where Dorchester disclosed their financially precarious position, the list of creditors was part of that conversation. There are at least 6 companies that might find it worthwhile to force Dorchester into Bankruptcy to recover monies owed.

And I hope they do.

But to be blunt, those companies will crunch the numbers. If they come out ahead in what they will recover versus what it will cost, then my guess is they will do it. It certainly won't be altruistic.