Twin Properties, Inc. is purchasing a one‑acre parcel of industrial land from Zeezrom Development. Zeezrom will be financing part of the purchase and has placed a clause in the contract requiring Twin Properties to provide proof of financial solvency and stability. Two days before closing, Zeezrom discovers that Twin Properties is part of a Chapter 11 Bankruptcy Reorganization Proceeding. Must Zeezrom go through with the sale?

Question

​Twin Properties, Inc. is purchasing a one‑acre parcel of industrial land from Zeezrom Development. Zeezrom will be financing part of the purchase and has placed a clause in the contract requiring Twin Properties to provide proof of financial solvency and stability. Two days before closing, Zeezrom discovers that Twin Properties is part of a Chapter 11 Bankruptcy Reorganization Proceeding. Must Zeezrom go through with the sale?

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The Answer of ​Twin Properties, Inc. is purchasing a one‑acre parcel of industrial land from Zeezrom Development. Zeezrom will be financing part of the purchase and has placed a clause in the contract requiring Twin Properties to provide proof of financial solvency and stability. Two days before closing, Zeezrom discovers that Twin Properties is part of a Chapter 11 Bankruptcy Reorganization Proceeding. Must Zeezrom go through with the sale?

​Twin Properties, Inc

Twin Properties, Inc