Richard Signorelli is an attorney in private practice, formerly an Assistant United States Attorney for the Southern District of New York. His Twitter account looks to me like required reading for anyone interested in the sea of troubles the Trump Organization finds itself in.
Friday, July 2, 2021
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Did you catch this retweet by Richard that talks about covenants in loans: https://twitter.com/richsignorelli/status/1411100262769561606
Did not fully realize this and if true, could become a huge issue if the banks decided to proceed.
I'm betting this is along the line of maintaining property that you have a bank loan on. One can't borrow money for a house and then just let it run down.
Kirsten
No, I hadn’t read that thread, though I have seen references to lenders calling in their loans. Now I understand it better.
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