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| SECTION T - SALE & TRANSFER OF ASSETS |
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If it was necessary to sell or transfer assets (including a business) of an insolvent corporate borrower what, if any, are the major difficulties or problems associated with that process (for example restrictions on transfer or sale of land; providing for the transfer or welfare of employees on a sale or transfer of a going concern business)?
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| There are no difficulties or problems associated with the process. Commercial sense prevails. Employment contracts can be transferred with the consent of the employees or terminated upon giving the required notice under the contract or under the Employment Act (as applicable). |
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