Thursday, July 07, 2005

A perfect example of why you follow instructions.......

Especially when they come from a judge!

We were pitched on a deal 2 days ago. The short of it is that our potential client was looking to buy $2 million of equipment out of a bankruptcy. The potential client had already put up $1.925 million and need another $75K to make it work and has a deadline of Wednesday night.


On Wednesday (the day of the dead line), the guy secures the $75K from a friend (who we would then buy out) and then attempts to pay it into court by way of a cheque (check for those of you who are American). the problem is that the courted order required a certified cheque and or bank draft, not a personal cheque.

So what happened............

The court did not accept the $75,000 and ruled that our potential client had forfeited the other $1.925 million he had already paid into court. Yes, this guy just lost almost 2 million dollars for not following instructions. At least the creditors are happy!

I don't make this stuff up!

2 Comments:

Anonymous Anonymous said...

Fuuuuuuuuuck!!

Hollllllllly Fuuuuuuuck!!

- W

5:12 PM  
Blogger Josh Kerbel said...

I have a better one that is un-folding as I type.

6:17 PM  

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