All the BS and maneuvering aside, one, once you start bouncing payroll checks, the stakes and the consequences get higher. The DOL, Sec. of State, AG, others can get involved. I think the creditors committee will now push to force them into receivership, and Carey will have to come up with a very, very good reason to prevent it. It will either be real money (bridge), resolve payroll, etc., or a partner with a definitive plan to stabilize and resolve everything. Creditors committees can be very powerful. A bankruptcy trustee even more! LOL.
Two, on a personal note, my feeling is-----if you are bouncing payroll checks-----to your non-executive/management, working class folks, people who have a job, show up, work, and are working to feed their family, and the like-----you are a scumbag. Period.
