GT40s.com - View Single Post - RF Situation - A bit of information related to other posts

Mitch D · 03-25-06, 04:46 PM

Howard - you're speculation leaves out a VERY important part. Depending on the actions of the directors of the company, PERSONAL ASSETS of the directors can be targeted too. Thus, for example if it is found that Robert was 'trading while insolvent' then assets of the directors are suitable targets for the creditors. And on top of that, putting something in a spouses's name doesn't mean it's not within reach - there is the concept of 'community property' to consider too.

Bottom line, the battle will not be a quick one, but I'm willing to bet the people affected have the capability and resolve to grind away for a long time and as necessary to the bitter end. Think about it, people that pony up $25-75k (USD) for what is essentially a "luxury" or "toy" have some considerable resources of their own. When united and determined, a group of such people will be a formidable foe. Anyone who doesn't acknowlege this fact is a fool or arrogant or both.

We're only at the beginning now folks, so brace yourselves for a heck of a ride.

Mitch D

03-25-06, 04:46 PM	#17 (permalink)
Mitch D mdemyanek 2 Tenths Join Date: Feb 2005 GT40: Los Angeles, CA, USA Posts: 205 Rep Power: 6	Re: RF Situation - A bit of information related to other posts Howard - you're speculation leaves out a VERY important part. Depending on the actions of the directors of the company, PERSONAL ASSETS of the directors can be targeted too. Thus, for example if it is found that Robert was 'trading while insolvent' then assets of the directors are suitable targets for the creditors. And on top of that, putting something in a spouses's name doesn't mean it's not within reach - there is the concept of 'community property' to consider too. Bottom line, the battle will not be a quick one, but I'm willing to bet the people affected have the capability and resolve to grind away for a long time and as necessary to the bitter end. Think about it, people that pony up $25-75k (USD) for what is essentially a "luxury" or "toy" have some considerable resources of their own. When united and determined, a group of such people will be a formidable foe. Anyone who doesn't acknowlege this fact is a fool or arrogant or both. We're only at the beginning now folks, so brace yourselves for a heck of a ride. Mitch D