Joined: June 2009
|Quote (utidjian @ June 30 2011,01:26)|
|So um... if Premise Media went bankrupt on a venture that cost $3.5M and netted $8M .... then it appears it was mis-managed. Presumably there are businesses and people that didn't get paid what and when they were supposed to be paid by Premise. The former owners (until yesterday) of Premise get out of paying off those debts. Premise gets auctioned off and the proceeds from the auction are used to pay off the creditors.|
The winner of the auction is the former financial backer of Premise (but not the owner?)
Something still seems awfully fishy here.
To complete this, could Ruloff hire Manning as CFO to manage his "new" property?
.. but Premise media wasn't just a one movie company. It could have gone broke from it's other projects.
If there wasn't limited liability, nobody would ever invest in anything. Even with the best intentions a business can go broke. The bad guys who milk a company for all they can get give all businesses a bad name.