[Cynnabar] Settlement
John Wilkerson
jmw at wilkersons.ws
Wed Feb 8 15:14:42 UTC 2012
Again, new guy is confused (not the first time, won't be the last). I thought the purpose of the incorporation was to separate the various entities of the SCA and thus limit financial liability.
Based on my experience with other non-SCA groups this is how the model usually works. I'm uncomfortable with corporate having access to local funds.
My .02,
Johannes
Sent from my iPhone
On Feb 8, 2012, at 9:57 AM, charles at eecs.umich.edu (Charles J. Cohen) wrote:
>
>> Judge says: 18% of total liquid assets.
>>
>> SCA says: That dollar amount equals 18% of our total liquid assets.
>
> This is a quibble, but no, this isn't correct. Look at the FAQ
> documents. This was a settlement. No Judge involved. The SCA was sued
> for a lot more money, and the lawyers negotiated a ton and a settlement
> was reached that was a dollar amount. This should have been covered by
> insurance, but only one of the companies lived up to their obligation
> (the SCA is suing the others).
>
> The amount we owe is a raw dollar amount. It was after the fact that the
> 18% amount was determined.
>
> - Midair
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