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Old 10-14-2008, 09:46 AM
Location: Huntersville
1,852 posts, read 4,675,905 times
Reputation: 525


It is an asset of the company. Most likely they have outstanding debts that must be settled, so along with their others assets it could be sold. There are a lot of ways to go "out of business". They have only filed for Bankruptcy protection, they be selling, already sold or even just liquidating. Depends on what is happening, but they could make spec homes cheaper. If the Bank owns a load and is getting 70% of their payment in assets, they could auction the houses. Most likely before a company goes under they won't "lose money" on a deal, because the house may have more worth as an asset then the cash.

It's a complicated matter, but unless they fire sale/liquidate, I would not expect to see the homes go cheap anytime soon. If they do liquidate, where the owners are trying to get as much money before they close up. This is usually in an LLC or an S-corp and they have paid all their debts. Evergreen seems to be an LLC, so there really wouldn't be any shareholders, the owners could just try to clear there debt and see if they can walk away with any money. They may also need to complete the homes they are already contracted for, so they probably won't dissolve just yet.
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