[Cynnabar] Settlement

[John Wilkerson]

Thanks Mr. exchecueururuuawoeuosdf.

Johannes

Sent from my iPhone

On Feb 8, 2012, at 10:23 AM, "Shefferly, Charles" <CShefferly at lear.com> wrote:

> Johannes
> 
> The state level incorporation, is for tax purposes. 
> 
> As for limiting financial liability from a law suit, that would be a
> question for the Corporate legal dept.
> 
> -----Original Message-----
> From: barony-bounces at cynnabar.org [mailto:barony-bounces at cynnabar.org]
> On Behalf Of John Wilkerson
> Sent: Wednesday, February 08, 2012 10:15 AM
> To: Charles J. Cohen
> Cc: barony at cynnabar.org; aelkiss at umich.edu
> Subject: Re: [Cynnabar] Settlement
> 
> 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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