Jesus, that's a complicated question.
Re: Did they buy your share back? -- Joe Top of thread Forum
Posted by:
PatD ®

03/14/2005, 20:49:22
Author Profile

Edit
Alert Moderators





After the business went bust, 'They' as an entity didn't exist anymore because they'd already sold their nominal shares,if they'd all even had one to begin with. The original legal side of the thing was handled by an individual who split long before the enterprise folded, & all the explanation he gave at the time was, 'sign this & we can start bagging up the muesli'.

Not only that, the business had passed through so many hands & changed its structure so many times by the time it went under, that the 'they' I knew weren't the same 'they' who wound it up. When the receivers went looking for who was responsible for the unsecured debt,the only people they could find was me & 3 other people who hadn't severed their connection with the original legal entity. So we were 'They' in law,& I could hardly sell my share to one of the others, nor they to me: that would have been like playing pass the hot potato.

What I was getting at was the fact that I'd totally forgotten I'd even 'bought' the share in the 1st place, hadn't been associated with the business for years, & was dumbfounded to find I was potentially liable for debts incurred long, long, after I'd given up eating muesli for breakfast. If on the other hand it had become a success, I wouldn't have known that it was really owned by myself & 3 other lucky fuckers.

See what I mean.







Previous Recommend Current page Next