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| Re: DesignLine is seeking $3 Million loan in order to fund NJ Transit order (282922) | |||
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Re: DesignLine is seeking $3 Million loan in order to fund NJ Transit order |
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Posted by RailBus63 on Thu Aug 29 15:55:26 2013, in response to Re: DesignLine is seeking $3 Million loan in order to fund NJ Transit order, posted by Gold_12th on Thu Aug 29 13:13:08 2013. It's not clear from this brief summary that the money would even allow them to continue production - $3 million is not going to buy much material, engines, etc. to build the 60 to 70 coaches remaining in the order. The money could be needed just to prepare the company to be sold or to liquidate the company. The bankruptcy court isn't going to care about NJT's coach shortage if shutting down the company is the best deal for the other creditors. |
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