[staten]

I do think it is insolvent unfortunately. I think they still have about 100 people on payroll (terrible for employees), probably late on vendor payments, antiquated technology, no brand value. Time is not their friend. To be blunt, a MCA default will not go on a credit report until a judgement is filed. What's the balance that makes pursing legal action cost effective? Over $50k? If I'm a merchant with a balance less then $50k, do I just play the odds that Can goes under and then settle for pennies? Conversely, SFS actually did an outstanding job of taking over Credibly's portfolio. Seamless.

[GSilverman]

Good Points, Staten. CAN may now be insolvent and the next step may be BK. Board pundits, please way in with your opinions.