via Red Flag Newsletter - Notice Before Enforcing Security

A good legal newsletter on a notice before enforcing security. The two points I would underline are:

The security only covers a small portion of the debtors' property.

The debtor is not insolvent.

Note that a bankruptcy proceeding is not part of this section, that it is merely to enforce a security. How they interpret the law is up for grabs, it might mean a power of sale. The company is only worth $1.4m., so the security will have to be reclaimed by another means, if this is legitimate.

It can also be a planned pro-forma change of ownership, such as in an amalgamation squeeze out, but without the necessary steps that might require.

http://bit.ly/1S5EBQI

-F6