The Ole Seagull

If it was their money would TCED Directors spend it this way?

Posted in General by The Ole Seagull on the June 14th, 2015

You have just bought a new business. As you review the business operation for the first six months you have questions about a monthly payment in the amount of $98,630.00 that, for whatever reason, you don’t believe you should be paying. Your lawyer issues an opinion, based on another legal opinion that is over six years old. The six year old opinion, although answering questions about the issue, avoids any discussion about litigating it and is very careful to avoid saying that there is no recourse against making the payments. Your lawyer, without mentioning litigating the issue, cites that opinion and says you have to continue making payments which amount to $3,288.00 per day, $98,630.00 per month, and $1,200,000.00 per year. (more…)