Legal & other issues from SG Mishap

[Thalassamania]

UKARF is listed on the www.nonprofitdata.com with the following data:


UPPER KEYS ARTIFICIAL REEF FOUNDATION INC
106000 OVERSEAS HWY
KEY LARGO, FL 33037-3116

 

[CBulla]

Good - I'd rather be wrong about that than right by default for not finding the answer.. plus I just learned of a new website!

 

[Thalassamania]

FWIW:

Key Largo Chamber of Commerce
(305) 451-4747
106000 Overseas Highway Key Largo FL 33037

 

[CBulla]

Welll now... that answers puts forth the question - long till the sinking is paid off?

 

[H2Andy]

This case won't go to trial for the same reason you've never lost a jury trial. The defense will settle.

i would not recommend settlement to my client, given the state of the law and the facts as known. if we don't win in the lower court, we will certainly win on appeal.


there's no legal precedent for your creative theory of liability in this case



some clients, you know, don't take well to legal extorsion and do litigate. and when they do, they need real litigators, not transactional lawyers who've never been in front of a judge, telling them what to do ... sorry...

i am sure you are a tremendous transactional attorney, but litigation is a whole different world. i would never dream of trying to tell you how to set up a series of subsidiaries for tax purposes ... just because i've read some case law on the subject. it takes more than reading the case law.

 

[Boatlawyer]

Here is their 2005 tax return. $9,000 annually doesn't seem like much from the sale of medallions now does it?

http://tfcny.fdncenter.org/990_pdf_archive/600/600002573/600002573_200512_990.pdf

 

[H2Andy]

that's not profit ... that's expenses

they spent $9,000 on the medallions (making them, i guess)

their total income is $34,000, mostly from "investment income"

they don't list sales of medallions as income, probably because it's the Chamber of Commerce that sells them?

 

[Boatlawyer]

Andy,

Gosh, with litigators who can't even find simple case cites, I'd have no worries being in court regularly, as opposed to the occasional contracts cases I try.

The reason I am a good transactional attorney is because I anticipate potential risks down the road. Like any good general, I try to keep the infantry (litigators) out of harm's way on the battlefield!

 

[H2Andy]

Gosh, with litigators who can't even find simple case cites, I'd have no worries being in court regularly

tsk tsk ... not very professional of you. if you go down that road, i'll just stop discussing this issue with you.

you're also wrong about reading that tax statment, sorry

 

[Boatlawyer]

that's not profit ... that's expenses

they spent $9,000 on the medallions (making them, i guess)

their total income is $34,000, mostly from "investment income"

they don't list sales of medallions as income, probably because it's the Chamber of Commerce that sells them.

Page 16, annual medallions: $27,327, lifetime $7,000

Also, wonder what the $170,000 insurance settlement was for?