Quote:
Originally Posted by bellybuttonlint
1. he stated he will payout merchants on a CASE BY CASE BASIS....
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Cohen has already declared his business has shut down. It's a business that could not settle it's commitments on the due date. To say it another way - we are talking about a dead parrot company.
Dead parrots do not have either the rights or the liberty to assume they can deal with creditors on a "case by case basis". They are bust, insolvent, whatever. An insolvent company has no rights other than to cease trading.
Officers of an insolvent company who then assume preferential settlements/dealings with creditors are committing offenses.
This ass and his associates are like ducks in a row ready for the slaughter - and prob not only at a corp level.