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<p style="margin-top:0;margin-bottom:0">Even if you keep them on a short leash like COD--if it goes into bankruptcy, the court can come back and have you refund those payments to spread it out to the rest.</p>
<p style="margin-top:0;margin-bottom:0">That TRULY sucks.</p>
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<p style="margin-top:0;margin-bottom:0">Richard Strickland</p>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> NSRCA-discussion <nsrca-discussion-bounces@lists.nsrca.org> on behalf of John Pavlick via NSRCA-discussion <nsrca-discussion@lists.nsrca.org><br>
<b>Sent:</b> Thursday, January 11, 2018 2:34 PM<br>
<b>To:</b> 'General pattern discussion'<br>
<b>Subject:</b> Re: [NSRCA-discussion] Hobbico Chapter 11????</font>
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<p class="x_MsoNormal">So imagine you’re a small company that was selling items to Hobbico. They probably owe you money right now. This will mean that they don’t have to pay you back. Now, assuming they make it through the bankruptcy (and you can write off
all of the money they owe you AND still survive), how willing are you going to be to sell stuff to them again???</p>
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<p class="x_MsoNormal">John Pavlick</p>
<p class="x_MsoNormal">Cell: 203-417-4971</p>
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<p class="x_MsoNormal"><span style="font-size:10.0pt; font-family:"Impact",sans-serif">Integrated Development Services</span></p>
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<p class="x_MsoNormal"><b>From:</b> NSRCA-discussion [mailto:nsrca-discussion-bounces@lists.nsrca.org]
<b>On Behalf Of </b>Jon Bruml via NSRCA-discussion<br>
<b>Sent:</b> Wednesday, January 10, 2018 8:41 PM<br>
<b>To:</b> DaveL322 <davel322@comcast.net>; Michael Cohen <precisionaero@hotmail.com>; General pattern discussion <nsrca-discussion@lists.nsrca.org><br>
<b>Subject:</b> Re: [NSRCA-discussion] Hobbico Chapter 11????</p>
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<p class="x_MsoNormal">That assumes new and intelligent management</p>
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<p class="x_MsoNormal">Bankruptcy makes them a debtor in possession (dip)</p>
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<p class="x_MsoNormal">The courts will appoint a manager of the DIP and then post petition financing will be arranged and they will become immediatlely an operational company</p>
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<p class="x_MsoNormal">From that point they will creat a plan to emerge from bankruptcy at the expense of their creditors and suppliers</p>
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<p class="x_MsoNormal">If they cannot emerge then the company will be liquidated</p>
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<p class="x_MsoNormal">Jon Bruml</p>
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<p class="x_MsoNormal">Techstyles </p>
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<p class="x_MsoNormal"><a href="https://nam03.safelinks.protection.outlook.com/?url=http%3A%2F%2FWww.Techstyles.com&data=02%7C01%7C%7C3d770924fa214a57bd3f08d55932b5a2%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636512996676529125&sdata=RhsZ%2FlOHlidXt9LUN2CuSufVu%2BeCMfIDpzvutnac9jo%3D&reserved=0">Www.Techstyles.com</a></p>
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<p class="x_MsoNormal"><b><span style="color:black">From:</span></b><span style="color:black"> NSRCA-discussion <<a href="mailto:nsrca-discussion-bounces@lists.nsrca.org">nsrca-discussion-bounces@lists.nsrca.org</a>> on behalf of DaveL322 via NSRCA-discussion
<<a href="mailto:nsrca-discussion@lists.nsrca.org">nsrca-discussion@lists.nsrca.org</a>><br>
<b>Sent:</b> Wednesday, January 10, 2018 5:33:17 PM<br>
<b>To:</b> Michael Cohen; General pattern discussion<br>
<b>Subject:</b> Re: [NSRCA-discussion] Hobbico Chapter 11????</span> </p>
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<p class="x_MsoNormal"><span style="font-family:"Arial",sans-serif">The short of it.... Chap 11 is restructuring, not liquidation and out of business. So the most likely scenario (short term at least) is profitable proprietary / exclusive product lines will
continue and less profitable ones will go away. </span></p>
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<p class="x_MsoNormal"><span style="font-size:9.5pt; color:#575757">Regards,</span></p>
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<p class="x_MsoNormal"><span style="font-size:9.5pt; color:#575757">Dave</span></p>
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<p class="x_MsoNormal"><span style="font-size:9.5pt; color:#575757">Sent from my Sprint Samsung Galaxy Note5.</span></p>
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<p class="x_MsoNormal"><span style="color:black">-------- Original message --------</span></p>
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<p class="x_MsoNormal"><span style="color:black">From: Michael Cohen via NSRCA-discussion <<a href="mailto:nsrca-discussion@lists.nsrca.org">nsrca-discussion@lists.nsrca.org</a>>
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<p class="x_MsoNormal"><span style="color:black">Date: 1/10/18 7:59 PM (GMT-05:00)
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<p class="x_MsoNormal"><span style="color:black">To: NSRCA <<a href="mailto:nsrca-discussion@lists.nsrca.org">nsrca-discussion@lists.nsrca.org</a>>
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<p class="x_MsoNormal"><span style="color:black">Subject: [NSRCA-discussion] Hobbico Chapter 11????
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<p style="margin:0in; margin-bottom:.0001pt"><span style="font-size:12.0pt; color:black">So, just saw Hobbico is filing for Chapter 11 bankruptcy. Since they own Tower Hobbies and Great Planes AND are a distributor of many lines in the US, what does this mean?
I still do buy some things that aren't pattern related and even though some is from the Local Hobby Shops, if distribution is gone, what happens then?</span></p>
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<p style="margin:0in; margin-bottom:.0001pt"><span style="font-size:12.0pt; color:black">Mike Cohen</span></p>
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