Quote:
Originally Posted by Gim_Mick
A bit of a grunge here... Have not read the entirety of this thread.
Why is it the general consensus that BG1 (and other pros) owe this money back to GBT?
The DOJ owns the FT assets, I assume that means, cash, int prop, SW, debts, outstanding loans, etc? They have an offer in theory to GBT to buy assets than includes SW, Int Prop, etc.
Why is the general consensus that GBT can ask for the debt to be paid back to them? It should be owed to the DOJ, and then they can decide if they will keep it or pass it along to GBT.
No one is asking these pros to pay GBT
now. Presumably, GBT is asking them to enter into agreements to repay their FT debts to GBT,
IF and
WHEN the GBT acquisition closes. Not before. Yes, it basically works as you say; the debt is to FT, but GBT wants some assurance that they are going to be able to collect on those substantial debts. If you were buying debts owed by a bunch of degenerate gamblers (hi, Layne; hi, Benyamine), wouldn't you want some assurance that you have a chance in hell of seeing that money?