Quote:
Originally Posted by TheAlpineOracle
I don't know of many medium-sized EPCs in the City that stiffed creditors then opened up a new EPC in the same building with the same management and potentially some of the same assets. I do know lots of EPCs that stiffed creditors and legitimately went out of a business though and shut the doors for the foreseeable future.
The optics of what went on here are nothing short of horrendous, regardless from a legal standpoint if they are correct or not, and because the same person is associated with both ventures, there's going to be fallout.
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Agree that the insolvent/bankrupt process is craptacular at best. There will always be people who end up eating it.
But, it is still the same game played under the same rules. Farm is at least honoring their lease on the space, instead of screwing the landlord too. I honestly do not think this is any more noxious than a certain EPC that owes my friend's company a quarter... the owner is now living in Cabo, waiting out the oil cycle. Guaranteed that owner will be back in town to do it all over again very soon.