 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Bank
Swiss bank lends Y Corp. a Michigan car manufacturer, $50,000,000. Y Corp. signs a security agreement giving Swiss Bank a security interest in all its equipment, including after acquired property. Swiss Bank filed a financing statement with the Michigan Secretary of State just prior to wiring the funds to Y Corp. Y Corp. breached a covenant of the loan agreement and is in default. Swiss Bank calls the loan, but Y Corp. doesn't have sufficient funds to pay it off. Swiss Bank moves to attach Y Corp’s equipment, including two car door-assembly machines that Y Corp. ordered from Door Corp. These machines are just about to be completed and Swiss Bank thinks they will be easier to sell as they are new.
Can Swiss Bank get the two machines? |
||||
Check out some similar questions!
I have a over sea investment account that I have had for many years now. I am in some financial problem and need to liquidate that account. It a very large some of money. I got the account wire transfer to my bank account. I knew the bank would red flag it because of the large amount but now it...
My branch manager lied to me and another bank about documentation ab out a loan a was getting from that other bank. Held the loan process,held up some closings on properties that a was purchasing.
Bank has frozen my bank account and they say me that it's a lottery fraud suspense account,but the story is that I had an advertisement agency which is unregistered and the people who work for me pays me the registration fees as 2000/3500/5000/7000 respectively and we pay them cash for their work...
John Marshall is employed as a bank loan officer for First State Bank. He is comparing two companies that have applied for loans, and he wants your help in evaluating those companies. The two companies (Morris Company and Walker Company) are approximately the same size and had approximately the...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
