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What happens if the delivery/operating company defaults on the loan?

April 26, 2017COMPANY defaults DELIVERY happens loan operating

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What happens if the delivery/operating company defaults on the loan?

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If the commercial enterprise fails and the operating firm defaults on any loan, its bank would seek repayment of the loan from the delivery/operating company. As the operating firm would not own the parkland that would not be at risk. The bank may seize the New Crystal Palace building or seize the other assets belonging to the operating firm, up to the full value of the debt.