Modern Times is on the edge of entering receivership to begin a court-ordered sale process. Jack O’Connor, a partner with Sugar Felsenthal Grais & Helsinger in Chicago, joins the Brewbound Podcast to explain the process.
“Banks are in the ‘getting paid business.’ They want to recoup the investment that they’ve made,” O’Connor said. “In this case, generally speaking, if you’re looking to conduct a going concern sale, your bank is there being supportive, hopefully saying this is a management team that can take us forward as long as we can find a buyer. What it does mean is that they don’t necessarily trust the company to repay its loan or make it whole on terms that it likes.”
The Brewbound team also discusses the latest news, including the latest Stone legal wranglings, CBC and more.
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