The Associated Press reports that tax collectors from 42 Florida counties and the city of Philadelphia are objecting to Kmart’s filed reorganization plan, saying that it does not adequately disclose how the company will settle its tax bills with the various governments.
The reorganization plan is supposed to give a company’s creditors sufficient information to know whether it is acceptable, but these specific objections claim that Kmart’s does not.
The reorganization plan is supposed to give a company’s creditors sufficient information to know whether it is acceptable, but these specific objections claim that Kmart’s does not.
- KC's View:
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Death and taxes. It’s always death and taxes.
Though in Kmart’s case, not necessarily in that order.
