Not sure if this has been posted..Mastro in the Chicago Tribune

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#11

08-19-2009, 03:57 PM

birdman42

Bill T.

Member

Join Date: May 2009

Location: Merlin, west of Bawtymore

Posts: 392

Quote:

Originally Posted by Peter_Spaeth

If Legendary really BOUGHT Mastro's assets for fair value, and it wasn't a shell game, why can't Mastro use THAT money to pay consignors?

Peter,

I've wondered that myself. If Legendary bought all of Mastro's assets, that would include their accounts receivable. So nobody owes Mastro any money; it's all owed to Legendary. And Mastro either had the cash to pay out, and they should do so, or they don't have enough cash, and they're hoping some people go away that they can pay the ones left.

No dog in this fight.

Bill

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