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Originally Posted by Cannon Shell
Yeah but at what price? He probably isn't worth as much as they think he is...
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Yes, that would be the risk - overpaying to buy them out.
I'm no attorney, but the Charging Order clearly states, "rights of an assignee" only. Thus no imput into what happens to Curlin, as they do not take over Midnight Cry's ownership interest.
So it seems attorney Ford spoke out of turn implying that her clients "owned" 20% of Curlin. Seems they only are entitled to any monies from that 20% interest (Midnight Cry's LLC portion)
Now, attorneys for the incarcerated lawyers are saying that the assignee only gets any money when money is
distributed by the LLC.
Implying to me (and I am NOT a lawyer) that if the BC purse money and any monies obtained from sale of the horse are held in the account of the ownership partnership, and not disbursed to the owners (depends upon what the ownership partnership agreed to and has in writing, I guess, regarding same - disbursements quarterly, yearly, monthly, etc?) - they get nothing until a disbursement occurs.