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Ask HN: Why does Twitter keep insisting on not paying its bills?
Twitter is refusing to pay its bills for Google [0], Amazon [1], headquarter rent [2], PR firm [3], and many others. [4][5]
I'm wondering where this would lead. What are the consequences? How far will Twitter go with this policy?
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0. https://www.businessinsider.com/elon-musk-twitter-stopped-paying-google-cloud-bills-money-platformer-2023-6
1. https://www.forbes.com/sites/walterloeb/2023/03/08/twitter-owes-amazon-at-least-70-millionamazon-delays-hq2-second-phase-construction/
2. https://arstechnica.com/tech-policy/2023/01/twitters-landlord-sues-for-millions-in-unpaid-rent-at-firms-us-headquarters/
3. https://www.reuters.com/legal/twitter-not-paying-pr-firms-bills-after-musk-buyout-lawsuit-2023-05-26/
4. https://www.cnbc.com/2023/02/24/musks-twitter-has-been-sued-by-at-least-six-companies-for-unpaid-bills.html
5. https://www.independent.co.uk/tech/elon-musk-twitter-unpaid-bills-b2285524.html
- pamoroso 3y agoConcerning where this this may lead, according to this[1] article if a company has more than 12 creditors "[...] any three of them can join together to put a company into an involuntary bankruptcy proceeding". [1] https://puck.news/will-elon-lose-control-of-twitter https://puck.news/will-elon-lose-control-of-twitter
- Zigurd 3y agoThat's one of the best articles I have seen re Twitter's LBO creditors. It's a pretty blurred line though: If the creditors get together and decide now is the time, they could end up with control of Twitter within weeks. But deciding to enforce loan conditions that are probably already out of bounds is up to the will of creditors who would prefer to have as little active engagement as possible. A group of landlords who have drawn down letters of credit connected to leases, however, have nothing to lose in making trouble for Elon.
- BulgarianIdiot 3y ago[dead]