Do some more homework on the enforceability of that Bankruptcy
Clause and then get back to me, OK counsellor?
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> --- In AsburyPark@yahoogroups.com, "bluebishop82"
<[EMAIL PROTECTED]>
> wrote:
> > Enough stalling and
> > litigation could create a risk of the Master Developer putting
the
> > LLC into Bankruptcy, and we would have had Carabetta all over
> > again. Real Estate in Asbury would drop like a stone if that
> > occurred. I was not willing to risk that investment, even if
others
> > on this board were willing to do so. Call it belt and
suspenders if
> > you wish, but it was just a personal decision on my part about
being
> > risk adverse.
> >
> >
>
> Tommy, I m surprised at you. A smart attorney like you and a
newspaper
> writer who pens many articles on AP? I would assume from how you
speak
> that you are familar with the redevelopment documents, but by this
> remark I guess you are not. If you were, you would see that there
is a
> bankruptcy clause in the agreement (I guess they learned the first
> time) that upon the developer being bankruptcy, the agreement is
void
> and the development rights revert back to the city. You see, us
> critics did our homework. Lastly, as an attorney you should know
that
> eveverything is a bargaining position. No one is lucking to winn
100%
> of the time.
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