--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "oakdorf" <oakdorf@> wrote:
> >
> > a sweetheart lease that a
> > new owner would have to eat.
> >
>
> Tom, can't the bankruptcy judge cancel that lease?
>
i'' take a shot, no, unless it was done knowing the bankruptcy will be
filed....?
They can cancel management agreements or other commissions (what I'm learning)
to
deliver "free and clear of any and all liens..."
Lots of banks sold their bank offices to investors but at the same time gave
themselves
sweeheart deals - typically if part of a larger complex. That's based on some
experience.
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