SUPPLIER CREDITORS Sample Clauses

SUPPLIER CREDITORS. The majority of these claims result from a business growth initiative that took place in the Summer and Fall of 2004 in New England. The business growth principally involved third party brands for which we had lines of credit to cover the necessary increase in inventory and accounts receivable. .A working capital shortfall resulted in our inability to sustain the growth and the lines of credit went unpaid. Our Florida distribution operation was marginally affected by this issue. Baltimore has not been affected. Kraft Foods and Fuze Beverages: Kraft obtained a default judgment against Beverage Network of Massachusetts for $91,902. We have been working with their attorney and have to date reduced the obligation to $ $58,500. The same attorney was used by Fuze Beverages to obtain a default judgment for $32, 604. To date we have not made payments against this amount. American Beverages: - There are two demands split between Connecticut and Massachusetts totaling $69,452. We have agreed a payment plan with their attorney and the first payment is due.