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Grumpycat View Drop Down
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Posts: 497 		Post Options Post Options   Quote Grumpycat Quote  Post ReplyReply Direct Link To This Post Topic: LPE in Portugal goes bust ?
    Posted: 28 May 22 at 9:53pm
I have heard a rumour that LPE in Portugal have gone bust and the EU are looking for their 3 million euro back  Wink
Pico , Vago and Bahia have not been made for a while because of legal action by Jo Richard’s for unpaid royalties. Think we have been there before lol. 

If this is true I don’t think we will be seeing the Po@nstar any time soon . 

Does any one have any more info on this or even if it’s true .  Smile


Edited by Grumpycat - 28 May 22 at 9:58pm
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fab100 View Drop Down
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Posts: 1005 		Post Options Post Options   Quote fab100 Quote  Post ReplyReply Direct Link To This Post Posted: 28 May 22 at 10:23pm
Hilarious
Great book for Club Sailors here
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Posts: 497 		Post Options Post Options   Quote Grumpycat Quote  Post ReplyReply Direct Link To This Post Posted: 28 May 22 at 10:39pm
Originally posted by fab100

Hilarious

I found it funny too , not so sure I would find it so funny if I was a Sunfish owner in the USA .  Confused
Though to be honest I would be very surprised if the owner of this company had not already transferred the ip of the Sunfish and the Laser to other companies already  Dead


Edited by Grumpycat - 28 May 22 at 10:53pm
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fab100 View Drop Down
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Posts: 1005 		Post Options Post Options   Quote fab100 Quote  Post ReplyReply Direct Link To This Post Posted: 28 May 22 at 11:40pm
actually, i need to clarify my throwaway comment.

Hilarious if Rastegar really has demonstrated again that he’s not fit to run a limited liability company.

But there are laws about insolvent trading that make directors personally responsible for their company’s debts. I hope Jo gets all his royalties of course, preferably at R’s personal expense, and the guy is also banned from ever being involved in a company again. 

Bonus if the pornstar is stillborn; who needs it. There’s plenty enough single-handers already
Great book for Club Sailors here
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Posts: 6661 		Post Options Post Options   Quote JimC Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 3:10am
Don't get too excited folks. I think we can be pretty confident that the IP will be well separated from the companies doing the trading, and there's nothing illegal about managing a business badly, to get in trouble you have to step over the line to stuff that's actually prohibited.
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Posts: 1005 		Post Options Post Options   Quote fab100 Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 3:48am
Originally posted by JimC

Don't get too excited folks. I think we can be pretty confident that the IP will be well separated from the companies doing the trading, and there's nothing illegal about managing a business badly, to get in trouble you have to step over the line to stuff that's actually prohibited.

and prohibited includes taking credit when you don’t have the funds to pay. One would hope Jo’s royalty contract would account for that IP/trading differentiation(s). But the Kirby case shows there’s form here of course
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turnturtle View Drop Down
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Posts: 2538 		Post Options Post Options   Quote turnturtle Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 7:24am
AIUI - some v. wealthy people use debt-laden companies to help write off personal tax exposure - it kind of doesn’t matter what the company trades. They’d have to be quite unlucky to get their fingers burnt with such a stroll in the park, especially when the wealth management experts claim it’s nothing but plain sailing for optimising tax contributions
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Posts: 497 		Post Options Post Options   Quote Grumpycat Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 7:26am
Originally posted by JimC

Don't get too excited folks. I think we can be pretty confident that the IP will be well separated from the companies doing the trading, and there's nothing illegal about managing a business badly, to get in trouble you have to step over the line to stuff that's actually prohibited.

If it’s true , history tells us you will be correct. This company owner always seem to know how push it right to the edge of the law without actually crossing it. One can only hope he doesn’t know EU law as well has he knows the laws in the USA. BUT I’m not holding my breath. 
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Post Options Post Options   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 7:31am
Originally posted by turnturtle

AIUI - some v. wealthy people use debt-laden companies to help write off personal tax exposure - it kind of doesn’t matter what the company trades. They’d have to be quite unlucky to get their fingers burnt with such a stroll in the park, especially when the wealth management experts claim it’s nothing but plain sailing for optimising tax contributions
LOL
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turnturtle View Drop Down
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Posts: 2538 		Post Options Post Options   Quote turnturtle Quote  Post ReplyReply Direct Link To This Post Posted: 29 May 22 at 9:27am
Originally posted by fab100

Bonus if the pornstar is stillborn; who needs it. There’s plenty enough single-handers already


can we will still accuse the PYAG of nautical infanticide?

Edited by turnturtle - 29 May 22 at 9:27am
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