Six-figure judgments

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nksports
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Post by nksports » Fri Sep 29, 2006 12:01 am

Do the leagues have any assets? The NIFL might be able to protect itself under bankruptcy, but since the AIFL's lawsuit is for fraud, bankruptcy is not an option (a federal judge would laugh AH out of his court and straight to jail for contempt). The thing that could hurt both AH and CS is both leagues are so structured so that CS and AH are the league. Their personal assets could be attatched. The franchises could be protected (especially if they jump ship now).

BarbaraPatterson
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Post by BarbaraPatterson » Fri Sep 29, 2006 12:44 am

There are several avenues to this.

Accounts receivables, bank accounts, insurance claims, lease deposits can all be attached by the creditors for these cases. Court orders can be received to make teams pay the creditors for franchising fees rather then the leagues.

Teams if they have contracts with these leagues, can be held liable for the debt if they jump ship because they now owe accounts payable to the leagues for a period of several years in a form of a contract, be it for financing terms for the teams sold or franchising royalties.

Both of these league owners can be held personally liable for the debt by piercing the corporate veil if the creditors are able to prove that these the leagues are not in compliance with the laws for franchises, (which already has been proven in a court of law for the AIFL).

mrinsideto-u
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Post by mrinsideto-u » Fri Sep 29, 2006 4:06 am

Again the NIFL and the AIFL are about to get a rude awakening fro, the FTC for selling franchises and not registering, I hope someone puts on a pink tutu and brings a high powerd rifle to the meeting's this weekend and climbs a tall building and waits for shiver and HP to show up together, but do wait for further info on the FTC and SHIVER

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Billy5
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Post by Billy5 » Fri Sep 29, 2006 4:10 am

[quote=""nksports""]Do the leagues have any assets? The NIFL might be able to protect itself under bankruptcy, but since the AIFL's lawsuit is for fraud, bankruptcy is not an option (a federal judge would laugh AH out of his court and straight to jail for contempt). The thing that could hurt both AH and CS is both leagues are so structured so that CS and AH are the league. Their personal assets could be attatched. The franchises could be protected (especially if they jump ship now).[/quote]

Have not post for a couple months until the other day so I am not up to speed on the NIFL but this my current take. The very assets and solid business plans they claim at each new expansion city meeting could and will be used against them. In other words CS "Were you lying then or are you lying now?"


The hunt for HP continues!

BarbaraPatterson
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Post by BarbaraPatterson » Fri Sep 29, 2006 4:42 am

[quote=""mrinsideto-u""]Again the NIFL and the AIFL are about to get a rude awakening fro, the FTC for selling franchises and not registering, I hope someone puts on a pink tutu and brings a high powerd rifle to the meeting's this weekend and climbs a tall building and waits for shiver and HP to show up together, but do wait for further info on the FTC and SHIVER[/quote]
It sounds like you might have access to similar information that I have. Robert Boyd has been leading up an investigation with the FTC and even a member of Congress to have both the AIFL and NIFL investigated for violating laws. I'm told hundreds of documents have been turned over.
Last edited by BarbaraPatterson on Fri Sep 29, 2006 4:51 am, edited 1 time in total.

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