Firefly 4: Also, we can kill you with our brains
Discussion of the Mutant Enemy series, Firefly, the ensuing movie Serenity, and other projects in that universe. Like the other show threads, anything broadcast in the US is fine; spoilers are verboten and will be deleted if found.
If it goes bankrupt (which is really a 'when?'), there is a hold placed on company financies (all money going out and in) for 90 days. A professional company is assigned to look at the accounts, and divide out the remaining money (creditors get first pick, will be mortgage providers, loan providers, hotels etc).
I think the business can declare bankruptcy without the people declaring personal bankruptcy, so I'm not so sure the mortgage lenders will come into the equation. I suppose it depends on what sort of loan they got, and the terms of it.
The court will make that decision.
Of course they will, Tamara. I was asking about personal opinions, because it's such a big, layered mess.
I was asking about personal opinions, because it's such a big, layered mess.
Yeah, I get it. That is why I am glad the court will be making the decisions. I certainly don't want Vicki and Denise in charge of it.
And I'm with Zenkitty. I have no sympathy at all for this kind of stupid and will not feel a single bit of sorry for them if they lose their houses.
Actually, that's a good point Cindy, that I am too stupid to realise - of course, if they've secured money personally for the business then it won't go down with the business. At least the people who lost out will know the owners are paying fees on those loans for a long time from their own money.
That said, say they got a $200,000 mortgage, transfered the money to the business bank account, and then transfered the money back out, and then fold the business.... Isn't that going to look a bit odd accounting wise?
Ignorance is bliss for me, I suspect. It's hard to believe the scale of muppetness involved in Boosters operation. Tamara tried to tell me, but I never realised how much of an idiot factor was involved.
Yeah, I get it. That is why I am glad the court will be making the decisions. I certainly don't want Vicki and Denise in charge of it.
Amen, to that. I know you weren't going to attend Flanvention II, anyhow, but have you ever gone to any of their other cons?
Actually, that's a good point Cindy, that I am too stupid to realise - of course, if they've secured money personally for the business then it won't go down with the business. At least the people who lost out will know the owners are paying fees on those loans for a long time from their own money.
Kevin, there is so much confusion, I don't know if it's possible to be stupid about anything they're saying (unless people say, "Yes," to any more BE events--which would be entirely stupid). Nobody knows what they did or didn't do. Denise was referring to 'inventory', when I'm pretty sure she meant 'collateral', which makes me wonder about the whole mortgage thing, anyhow.
I should try and convince those YouTube hipsters to make a video on how to run a business, BE style.
say they got a $200,000 mortgage
A $200K 2nd mortgage on a house in Ashland, OR would have to be on a frakkin' mansion. The average price for a house in Ashland is around $250K.
And this is very high for the state of Oregon. If they live outside the city limits the average price plummets.
If there were ever to be any refunds (I really don't think people will end up seeing any money--some smart attorney is going to tell these women to get over their tiff and declare bankruptcy), how do you think they should be distributed? Fans first? Flan fans first? What about BB and NN ticket holders? People who didn't go to California, once they realized the con wouldn't come off? What do you think?
If this is a corporation, then what will probably happen (I'm not a bankruptcy atty), is that the court will appoint a trustee whose job is to maximize the recovery of assets for the debtors. There will need to be a determination of the assets and liabilities.
In terms of payment, as I recall, the trustee and anyone he/she hires (accountants, attys, etc.) will be paid first. Then secured creditors -- those who have lent money to the business secured by an asset. Then unsecured creditors such as prospective attendees.
I've posted a bit from a bankruptcy lawyer here: [link]
It looks like people are having more luck getting credit card refunds etc if they also report it to the police first. VISA don't do 'owt after 120 days, apparently, but if it's a seen as a police matter I suppose it pushes it more with the card company.
There is a whiteboard at work being used as a room divider. On one side, they keep all sorts of tech notes about installations, etc. On the other side, it's generally blank in the walkway.
Last week someone drew a quick little stick figure spaceship Enterprise. That was followed by a stick figure Defiant class, then a cube we assume is a Borg cube.
Then I drew a fairly decent Serenity up in the corner last Friday.
On Monday, under it someone had scrawled "You can't take the sky from me!". Above it someone else had scrawled "I am a leaf on the wind."
Also? My supervisor just loaned DVD #1 of the series to a coworker. I'll have to tell him about the toaster plan.
On Monday, under it someone had scrawled "You can't take the sky from me!". Above it someone else had scrawled "I am a leaf on the wind."
That's cool.
