For Rent

Chapter 1: Teleporter Malfunction?

A/N: Any dialogue from an alien character speaking is a loose translation from its native language.

On Taladu, some technologically advanced, alien world, a creditors' assembly is held, as per usual for insolvent companies wanting to avoid declaring bankruptcy. As that meeting ends, the creditors of an insolvent real estate developer, Wonderlic, make their closing remarks prior to voting, in a courtroom of a palace of justice.

"We might be inclined to accept the proposal on the table, however, there are several conditions for us to agree" the representative of a construction materials company adds. "Our first condition is that, until the proposal expires, all purchases of materials shall be paid for immediately"

"We might be willing to extend repayment terms on the loan you have, and to consolidate all debts onto the preexisting loan. After all, this world is facing a housing crisis, so I have good hope that you will turn around. However, we request that you implement a series of measures" the banker imposes his conditions.

The banker goes on to list conditions related to staffing, which makes the real estate developer squirm. However, most other conditions outside of staffing appear to be less problematic.

"Let me get this straight: you want us to replace our entire sales force as well as management? No one wants to work for a near-bankrupt company!" Billerica, Wonderlic's CEO, whines while he might be wondering how he could comply with the bank's conditions.

"Do you have any idea how hard it is to find someone willing to turn a dying company around? On this world, people willing to take the risk would usually prefer to work for start-ups!" another employee of the real estate developer retorts. "We might need to look off-world, with all the legal complications this carries!"

"You can keep using three construction bots we leased to you. However, any further lease of construction bots shall be made on a per-project basis on a fixed rate schedule" the construction bot lessor imposes an additional condition.

These conditions appear to be difficult to work around, and with little seed money, our only hope of survival hinges on whether we're awarded a contract by the government under the Housing Crisis Plan, Billerica muses, while double-checking, the Housing Crisis Plan's (HCP) requirements for real estate developers.

"Fine, I accept, I'll take some off-world help if that's what it takes to keep the business in operation!" Billerica sighs, feeling like he has no choice but to outsource the hiring of the key people the creditors want replaced.

Namely, the project manager. As he realizes that he might not get better terms for a creditor proposal, Billerica resigns himself to operating the business in a much worse environment than he was used to before the insolvency proceedings began.

The final vote on the creditor proposal soon starts, and, while the company has dozens of creditors, the main three account for over two-thirds of the total debts. The other creditors appear to be willing to accept any repayment terms, believing that better receive a quarter of the sums owed, over a long period, than nothing at all.

"One final reminder that, if the proposal is rejected, Wonderlic goes bankrupt, and, to accept the proposal, a double majority is required" the insolvency judge gives her instructions to the creditors and debtors. "An absolute majority of creditors, and two-thirds of the sums owed, must agree for the proposal to go into effect. Creditors shall vote one at a time"

The insolvency judge has her manifest of proven creditors, and the creditors' reps go in single file, in alphabetical order. In a booth set up at the witnesses' stand so that voters can't see what others voted.

Once all creditors voted, the judge renders the verdict on the creditor proposal:

"The results have come in, and the proposal is accepted" the insolvency judge rules.