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> members are free to reform under a new org That's what the purpose of this bankruptcy is. It is to transfer the assets and members to a new organization. T
by stale2002 6y ago
> members are free to reform under a new org
That's what the purpose of this bankruptcy is.
It is to transfer the assets and members to a new organization.
Things like the Virgina headquarters and employees can't just be spun back up overnight. That would be a huge loss, if that happened.
Thus, the purpose of all of this stuff is to move all the assets and members to a new organization, so there is as little friction as possible.
- LatteLazy 6y agoWhich is great, except no assets can be given over until the trial is over.
- deleted 6y ago[deleted]
- stale2002 6y agoYou previously just asked why they would want to take these actions. And I told you why. It is because none of this has anything to do with creditors making good faith attempts to get paid back. What this whole thing is about, is about an attempt by the new york AG, to dissolve the organization, and is not a good faith attempt to make creditors whole. The whole point of all this stuff, is to sidestep back faith attempts at dissolution, and instead go through the normal process for handling fines/fraud/ect. The dissolution is what is going to be evaded.