Quote:
|
Originally Posted by SmokeyTheBear
in simple terms no.. why would someone sign an agreement that waived their right to payment.. I think your confusing the fact some people signed an agreement to stagger their payments to keep ibill from folding. That agreement i'm assuming would be default as soon as they missed their obligations.
|
Ah, maybe that was it. Its possible to sign all your rights away without actually waiving the right to collect payment. I am sure these agreements had some "no sue" language in them. I think everyone has pretty much pinned themselves into a corner.
This sounds alot like what was going on in the 80s, companies would go to thier workforce and tell them they were gonna fold unless the employees agreeed to take this cut and that one and that in exchange for thier loyalty, they'd get ESOP or some crap. Then the top level execs would cash out quietly over the next few months and squander/encumber the company assets then suddenly the company would fold without warning and everyone would be left high and dry. Happened to my grandfather at a company called Murphy Motor Freight.
None the less, it sucks and I hope everyone gets at least some of what they are owed. Should put the fuckers in charge over there in jail.