"Blash" <blash1@[EMAIL PROTECTED]
> wrote in message
news:C2AAC9BB.6EE87%blash1@[EMAIL PROTECTED]
> in article 138aipcr4m6vg9f@[EMAIL PROTECTED]
[NFB] at
> neil_delver@[EMAIL PROTECTED]
wrote on 6/29/07 2:11 PM:
>
>>
>>
>> "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?
>>
>>
>>
> I think you're in this lousy situation because you didn't think of
> checking with an attorney FIRST.......
> Evidently you don't learn quickly because now you're trying to solve
> your problem by using a bunch of nameless people with unknown(if any)
> credentials in a newsgroup rather than going to see an attorney with all
> applicable paperwork in hand........
> Did you ever hear "penny-wise and pound foolish"????
>
Yes, I am of course perusing legal recourse now, but paying by the hour.
Certainly I should have checked an attorney first, but few think to check
if
a company is officially listed as a cor****ation - the State fraud sites
don't warn and tell you to, the Clerk's info system is obviously designed
for the convenience of legal clerks and not the public (for example, the
terminated company is listed as "TERM "... some date, I thought maybe it
meant a "term" like a period of time.) McGyver is often here to give
interesting feedback, I want to get more ideas about the basic outline of
the situation is, and have fun looking at the answers while it's still a
fun
thing to do.
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