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  Topic: Expelled: No Intelligence Allowed., Sternberg, Gonzalez, Crocker - A film< Next Oldest | Next Newest >  
Amadan



Posts: 1268
Joined: Jan. 2007

(Permalink) Posted: June 29 2011,11:45   

As a general rule it's difficult to pin the losses of an insolvent limited liability corporation on its directors or shareholders. You would have to show that they company had not just been mismanaged but that it was done deliberately or recklessly, or that the company was not being used for its original corporate purposes (i.e. you can't hide behind a limited liability company to avoid paying for your groceries or the kids' private school).

Unless the company was so badly run as to raise an inference of fraud, it's unlikely that the backers will be blamed for being able to walk away from the wreckage. That's what insolvency and bankruptcy laws are there for.

I wouldn't be too surprised if Ruloff & co had a bit of help from Howard and Friends to stop any incriminating production notes falling into the wrong hands. The receiver or liquidator will have no objection, because by overpaying for it, the creditors get a bigger dividend on what they're owed. As a result, I don't expect any legal issues to arise.

Pity, though.

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"People are always looking for natural selection to generate random mutations" - Densye  4-4-2011
JoeG BTW dumbass- some variations help ensure reproductive fitness so they cannot be random wrt it.

   
  3604 replies since Aug. 12 2007,07:23 < Next Oldest | Next Newest >  

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