Sharks Are Circling

There's a new post over at Sharktanklegal, containing some details about how Howrey will go through its last rites.

The post mentions that during the wind down, Bobby will be working on collecting $100M of accounts receivable, which seems like an exceptionally difficult task.  The post also mentions that Howrey has $30M debt, mostly to CitiBank.  I find the $30M figure in total debt to be exceptionally conservative, particularly when one factors in salaries and benefits owed under WARN, those staggering lease obligations, and capital owed back to nonequity and "partial equity" partners.