"McGyver" <Greyprof@[EMAIL PROTECTED]
> wrote in message
news:5Ebhi.33$fw2.25@[EMAIL PROTECTED]
> "Freddie B." <paradoxer@[EMAIL PROTECTED]
> wrote in message
> news:138a6ohrm0qnqce@[EMAIL PROTECTED]
>> I bought a few thousand shares from a company here in VA in 2004. The
>> company was administratively terminated in April '04, and hence "It
does
>> not exist." (I am a bit naive, and didn't check the SSC web site until
>> recently.) Well, their CEO already borrowed money from me under their
>> name on a contract after that termination, and went around representing
>> it as a cor****ation, etc. - and still does! I just got an investor
>> update type letter, offering if I want to convert what they owe me into
>> shares! Well, they say they are trying to get reinstated in a few weeks
>> (do they have to pay all the back years of fees?) but, the nerve! I
>> already know it is a Class I Misdemeanor in VA to act as if a
cor****ation
>> if not one, but: what additional laws are involved here? Most
im****tant,
>> they still owe me lots of overdue money (from loans, additional to
their
>> "shares" I still hold), so what extra legal punch can I get from this
>> status issue if I sue the officer/s? (Note I didn't say "sue the
>> company", since it doesn't exist! I have to sue some kind of legal
>> person, right?)
>
> First, sue the company for payment of all debts. It is backwards to say
> you can't sue the company because it doesn't exist. The right way to
look
> at the situation is that the company cannot defend itself from your
> lawsuit. Nobody is authorized to act on behalf of the company, so nobody
> is authorized to hire an attorney to represent the company, and nobody
is
> authorized to enter any answer to your complaint. So if you raise all
of
> the proper objections at the right time you will win a default judgment.
>
> Second, and after: (a) you have the default judgment on the company, (b)
> the company's period for appeal has passed, (c) in a separate lawsuit,
go
> after the officers, directors and shareholders of the company. They can
> be held responsible for all debts of the cor****ation because they don't
> have a valid cor****ate veil to protect them.
>
> Third, sue the person who obtained money from you after the cor****ation
> had been administratively terminated. The lawsuit is for fraud among
> other things. The fraud is in representing to you that there was a
> cor****ation in existence that had the right to sell shares and/or incur
> debt.
>
> Use an attorney for all of the above, because there are subtleties in
the
> procedures and the timing of the three lawsuits. The fraud cause of
> action has the potential for punitive damages, so there is a potential
for
> recovery of enough money to cover your legal fees.
>
> This answer must not be relied on as legal advice for the reasons posted
> here: http://mcgyverdisclaimer.blogspot.com
. And I am not your
> attorney.
>
> McGyver
>
>
McGyver, thanks!
You are as cool as the TV character of almost the same name ...
BTW they are trying to re-form, but if I file the first suit right away,
aren't they still liable for what they already did before, even if they
"get
back inside" the renewed cor****ation?
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