bluechip
Veteran Member
10 million would just be the beginning, the bulk of that money will go to the number 1 and only major secured creditor. LS Mtron will then have to capitalize the company in order to have some working capital to begin operations. For 10 million, if approved, they will get some real estate, some inventory, and what is left of the dealer network. If they treat the dealers well and help us get the noose off our necks with the big floor plan company, they could end up with some very grateful and dedicated dealers... THis deal would make NC the headquarters for all the major Korean brands, leaving only branson out (not sure where their HQ is now). As I recall, LS is the one that filed suit that started all this rolling about this time last year... they had a lot of unsecured debt owed by Farmtrac. Maybe they will come out this way.