According to the article, they hit liquidity trouble during the financial crisis which caused them to go into technical default. According to the article, they have $20.2 million in assets and $27.7 million in revenues but Regions Bank refused to negotiate on payment.
I wonder if this is just the last part of an attempt by Regions to use the default to seize the company at far below its market value.
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[ 3.0 ms ] story [ 22.9 ms ] threadMeanwhile, their south-american counterpart is doing fine (and in need of a better design agency): http://www.delidrops.com/global_ing/global.html
I wonder if this is just the last part of an attempt by Regions to use the default to seize the company at far below its market value.