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[Leslie <cayadopi AT yahoo.com>]

My guess is that they'll have to file some type of creditor claims in court, 
just like other creditors do when a company owes them money.
 
It isn't stated in the article, but it almost sounds like the company may 
have defaulted on a loan to BofA, and that BofA had its loan secured by all 
company assets.  Which would include cash.  Sometimes those loans include the 
assets of owners as security. If so, a bankruptcy filing may be in the works 
of being filed.  If so, pre-petition claims for unsecured creditors divy up 
the crumbs.
 
Don't know if employee wages fall into the category of pre-petition 
creditors, but the court is the right place to file.  While a sit-in may hit 
the headlines, it doesn't start the legal process to attempt to collect money.
 
 
 


--- On Sun, 12/7/08, Cathy <goosecreekfarm AT gmail.com> wrote:

From: Cathy <goosecreekfarm AT gmail.com>
Subject: Re: [Homestead] Economic 'sit - in'
To: homestead AT lists.ibiblio.org
Date: Sunday, December 7, 2008, 12:15 AM

On Sat, Dec 6, 2008 at 11:57 PM, bob ford <bobford79 AT yahoo.com> wrote:

> Sitting down in a closed bankrupt business is not something I would use
> gumption or spirited to describe.  I don't know all of the facts, but
if the
> company has no money, sitting down won't make the money fairies bring
a bag
> of cash.


It is hard to tell what's going on from a newspaper article.  Seems like
maybe someone's arguing that BofA should allow the business to run out its
assets via payments to employees.  Dunno the likelihood of that, or what the
ramifications would be.

I feel for the employees though, I've been looking for work for a while
now.

Cathy
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> Early on the morning of Oct. 2, 1992, 31 officers from the Los
> Angeles Sheriff's Department, Drug Enforcement Administration,
> Border Patrol, National Guard and Park Service came roaring down the
> narrow dirt road to Scott's rustic 200-acre ranch. They planned to
> arrest Scott, the wealthy, eccentric, hard-drinking heir to a Europe-
> based chemicals fortune, for allegedly running a 4,000-plant
> marijuana plantation. When deputies broke down the door to Scott's
> house, Scott's wife would later tell reporters, she screamed, "Don't
> shoot me. Don't kill me." That brought Scott staggering out of the
> bedroom, hung-over and bleary-eyed -- he'd just had a cataract
> operation -- holding a .38 caliber Colt snub-nosed revolver over his
> head. When he pointed it in the direction of the deputies, they
> killed him.

This is the third version of this killing that I have read. In the
other two Scott was in bed and when they kicked in his door with no
warning he went for a gun and they blew him away.

1-Buy property that has little value to anyone with power or big money;

2-Keep a low profile;

3-Don't give anyone any reason to believe you are doing anything
illegal;

4-Keep dogs that provide warning. This is the first version where it
was written that he had sold a puppy. No mention of adult dogs. If he
had heard warning barks he might be alive and having great fun suing
various government agencies.