Quote:
Originally Posted by PokerGuvnA
I think there might be deals made, too. However, personal and small business debt is a very different situation than Foxwoods'. There are a hell of a lot more assets they could acquire by sticking it to the them than the average person has, and even without that they could definitely add penalties and fees to the debt.
What assets? If the creditors don’t play nice what can they seize and monetize? The building is on Indian land and can’t be moved and can’t be operated without tribe agreeing. The machines might be leased. If so can’t be seized. Even if owned and subject to seizure where do you redeploy them?
The value is in the business and if you shut it down you can’t unilaterally reopen it. The best option for creditors is likely a combination of deferral, extension and restructuring with maybe even partial forgiveness.