Motion to be discussed on Tuesday hearing is motion approving wind-down funding contribution, turn over, stay of extension and KERP. Don’t see how logistics is safe
Pride Group - TPine
- Thread starter SCAM CHASER
- Start date
So are you saying leasing is closing? Factoring has been sold and truck sales is closed so if not PGL then only leasing is left.
make more sense than u ,, u have been closing pride from last 3 4 months.u wnt get a pie from their business
Hold up, I don't understand one thing. How is PGL going to run if the sale wasn't approved to the Johal Family? PGL, T-Pine, Leasing and etc. are all under the same umbrella how would one stay active and the rest bankrupt. The only reason they're in bankruptcy protection is because they can't pay their debt, which they took as a whole firm. Doesn't seem to make much sense to me on how PGL would keep running if the other businesses got shut down.
This is exactly how I interpreted the bankruptcy docs. They are looking at the company as a whole as if you look at the listings of companies under the Johal family, every company is listed
They probably have lots of Money stored away in some accounts out of North America. It would make sense to have a lot of money from taking 3 loans on a single truck. Realistically, i don't think that money is coming back to North America.
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you are right- and all of that "lots of money" was funded with money that the Johal family has for all intents and purposes borrowed from their creditors with no intention to pay back and without permission.
I mean the definition of theft - theft involves the unlawful taking of someone else's property with the intent to permanently deprive them of it.
I really don't see if how this situation is any different than that - one doesn't run a company and "suddenly" discover that the fundamentals are as unsound as the financial documents indicate.
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Let's not forget all the people that they screwed over and are left footing the bill for their rental units.
Whatever happened and will happen with this company, let’s all say a prayer for the employees that worked hard and put up with a lot to earn a living.
They are the ones who will be paying the most for this catastrophe.
I know there a lot of owners on here so I’m asking that you all be considerate and open to hiring as there will be a lot of people looking for jobs.
They are the ones who will be paying the most for this catastrophe.
I know there a lot of owners on here so I’m asking that you all be considerate and open to hiring as there will be a lot of people looking for jobs.