Lawyer Charged With Lying About Knowledge of 'Pump and Dump' Scheme Oct 17, 2009
But according to prosecutors, Brown helped his co-conspirators profit from the fraudulent transfer of more than $25 million to a set of limited liability companies ... The stock was later sold through one of the limited liability companies, generating total proceeds of $200,000 ... In 2007, the Federal Bureau of Investigation began interviewing Brown and a family member about the business dealings of the limited liability company involved in the stock sale. (Law.com)
McNair's portion of restaurant can be sold Oct 17, 2009
White said in a court filing that he wanted to dissolve the limited liability corporation that owned the restaurant. In your voice. (The Clarion-Ledger)
Yerkes researchers present at 39th Annual Society for Neuroscience Conference Oct 17, 2009
Emory Healthcare includes: The Emory Clinic, Emory-Children's Center, Emory University Hospital, Emory University Hospital Midtown, Wesley Woods Center, Emory University Orthopaedics Hospital, the jointly owned Emory-Adventist Hospital, and EHCA, a limited liability company created with Hospital Corporation of America. EHCA includes two joint venture hospitals, Emory Eastside Medical Center and Emory Johns Creek Hospital. (EurekAlert!)
Nigeria: Anti-Corruption Body Storms Lagos to Recover Bank Debts Oct 16, 2009
Addressing Journalists in Abuja yesterday the Group Managing Director of Savannah Airline Ltd, Abdul Ringim also affirmed that, though Bashir was the chairman of the Savannah Airlines that was indebted to the defunct Bank of the North to the tune of N14m but "the airline was a limited liability company". By Emmanuel Aziken, Emma Ovuakporie, Peter Egwuatu, Yemi Adeoye and Chinyere Amalu. (allAfrica.com)
Opus South condo towers to change hands Oct 15, 2009
Three limited liability companies that have the same Charlotte, N.C., address as Wachovia Bank won the bids. Water s Edge Clearwater LLC agreed to pay $20 million for Water s Edge where only 10 of the 156 units have previously sold, records show. (Tampa Bay Business Journal, FL)
Mitsibishi Corporation Announces Comprehensive Alliance with Sinopharm Group and Investment in Beijing Huahong Oct 15, 2009
Huahong is incorporated under Chinese law as a Limited Liability Company with a registered capital of 40,000,000RMB. Sinopharm Group own 60% of Huahong, and ChangXinYiDa 40. Through this joint venture, Mitsubishi will acquire 9% interest in Huahong from Sinopharm Group and 16% interest from ChangXinYiDa, for a total of 25. (JCN Network, Japan)
Proposal would build homes on former dump siteNeighbors concerned about possible soil, other contamination Oct 14, 2009
Jay Eastwood, a member of the limited liability company formed to develop the property, said he would ensure any contamination at the site is cleaned up before development begins. Read the full story in Wednesday's Herald and News print edition. (Klamath Falls Herald & News, OR)
Unhappy LPs limit funds to PEs, VCs Oct 14, 2009
A venture capital firm is usually structured in the form of a limited liability partnership and people who invest in it are limited partners. Seen in the Indian context, the bulk of venture capital inflow is from overseas markets like the US and Europe, with limited partners mostly being institutional investors such as pension funds and insurance companies and family offices (high net-worth individuals) who are mostly based out of the US.. (India Times, India -- Intl Business)
Developing at dumpsite Oct 14, 2009
Jay Eastwood, a member of the limited liability company formed to develop the property, said he would ensure any contamination at the site is cleaned up before development begins. Eastwood said he knew nothing about the 25-acre property when he purchased it through a foreclosure eight to 10 months ago. (Klamath Falls Herald & News, OR)
GOP uses ACORN to fight bank redlining law... Oct 13, 2009
A JPMorgan Chase mortgage officer, Guilermo Loaiza, until recently was on the board at ACORN Housing Corp. He also served as presidents of Arizona ACORN Housing Corp. and ACORN Beverly, a limited liability corporation through which ACORN developed a Phoenix subdivision with help from $4. 8 million in credit from JPMorgan Chase. (The Drudge Report)
No tax-free conversion into LLPs yet Oct 12, 2009
00004000 NEW DELHI: The government will look at withdrawing capital gains tax that is levied when unlisted companies convert to limited liability partnerships (LLPs) once the new business vehicle finds acceptance in the country ... The government will look at withdrawing capital gains tax that is levied when unlisted companies convert to limited liability partnerships (LLPs) once the new business vehicle finds acceptance in the country. (India Times)
Uncle Sam Demands More Than Valentine From Farmers (2) Oct 11, 2009
This includes the following: Net Schedule F income; your share of net income from a S corporation, partnership or limited liability company; wages received by a S corporation shareholder from the S corporation; and gain from the sale of assets used in farming and reported on Form 4797 and/or Schedule D (Form 1040), but not gain from the sale of land or timber. Farmers are allowed to use a negative farm income for calculations in the base year, they say. (Agri-View, WI)
FDI norms to cover LLPs Oct 10, 2009
NEW DELHI: The government is working to bring limited liability partnerships (LLPs) within the scope of foreign direct investment guidelines, a move which will facilitate the inflow of overseas capital through a corporate structure that has just recently been allowed in India. LLPs, which combine the features of partnerships and limited liability companies, are the preferred corporate structure for the services sector globally, particularly tax-accounting and law firms ... Govt is working to... (India Times)
210 Trade developer files Chapter 7 Oct 8, 2009
filed the bankruptcy proceedings Oct. 2 for its affiliate Charlotte FC, the limited liability company developing the 48-story, 419-unit tower that is partially constructed at the EpiCentre complex. The company filed in Indianapolis, which is where Flaherty & Collins is based. (Charlotte Business Journal, NC)
Starwood Capital takes over failed Corus Oct 7, 2009
Under the deal, the FDIC will sell a 40 percent equity interest in a limited liability company created to hold the Corus assets to the Starwood group, which also includes , Perry Capital and WLR LeFrak, the FDIC said in a news release. The FDIC will hold a 60 percent equity interest in the LLC. The closing is expected to happen this month. (Pacific Business News, HI)
Real estate flippers back in South Florida, but this time they could help Oct 5, 2009
Jupiter-based Pudlit Joint Venture incorporated as a limited liability partnership in mid-June and began paying cash for Costco-style home buys. In August and September, Pudlit purchased 42 Palm Beach County homes, according to the property appraiser's office. (The Palm Beach Post)
Demcores ripple effect Oct 5, 2009
Jason Goldberg, who is part of the limited liability companies that own the buildings, said Friday hes working with the bank to renegotiate the loan. A foreclosure wouldnt force tenants to leave, he said. (The Herald-Mail Online)
UTrucking gets blast from past Oct 5, 2009
The limited liability company (LLC) now has 100 to 150 student employees and more than 1,400 customers every year. Although Needle and Laranch had only broken a few plates in their transportation process, an insurance policy has been installed and updated, which has become a major source of pride for the business. (Washington University Student Life, MO)
Feds probe money firm Oct 4, 2009
Swiss Capital, which has a Web site displaying photos of Switzerland, has literature stating the limited liability company has branches around the world, including plans last year to open a ''headquarters'' in Manhattan. Bass, who lives in a spacious Tudor-style home on Park Hill Lane in Menands, is listed in material as a former Italian ''vice consul'' and international financier. (Albany Times Union)
Police probe strange actions by company Oct 2, 2009
Fruitland Police Chief J.D. Huff asserted the firm, Urban Marketing Media, a limited liability company, approached the Fruitland and Payette chambers of commerce in 2008 about selling advertising for a coffee table book that could be used as a relocation tool for the chambers. The magazine was to be completed earlier this year and distributed to the local chambers of commerce. (Ontario Argus Observer, OR)
Suit: Mastro moved assets to defraud creditors Oct 1, 2009
Commercial developer Michael Mastro Sr. transferred a $15 million Medina home, multiple diamond rings and a 2008 Rolls Royce into limited liability companies owned by an off-shore trust, according to a complaint filed Wednesday against Mastro in federal court ... The complaint also names Mastro s wife and related limited liability companies ... According to the suit, Mastro transferred his house into LCY LLC, a Delaware limited liability company with membership shares that are owned by a... (Puget Sound Business Journal, WA)
Judge stalls bid to wrest control of Super 88 Sep 30, 2009
Through a limited liability company, Wu purchased the debt of the homegrown Boston chain and scheduled an auction of its three stores and other assets for next week, possibly planning to buy them back himself ... The amount of Super 88 s debt was seven figures, according to Wu s attorney, Hayes Young, who said that Wu has a substantial interest in Lucky Star Elmhurst, the New York limited liability company that purchased Super 88 s debts. (Boston Globe)
A year later, despite TARP, construction bumpy Sep 26, 2009
Projects that are moving forward are getting help from the state and counties, or by developers pooling resources to form limited liability corporations. waffled over its Rio Rancho customer service facility because of financing issues with construction last winter. (New Mexico Business Weekly, NM)
Time for a 'Business Divorce' Sep 26, 2009
And where there is no pre-existing agreement like a shareholders' agreement, a limited liability company operating agreement, or a partnership agreement with a road map that governs the separation, business divorces can quickly become very nasty. Are you seeing business divorces triggered by situations specific to this recession. (BusinessWeek)
The Valley's priciest home sales Sep 24, 2009
The home was sold by Joanne Tedesco, managing member of JHT 1 LLC, an Arizona limited liability company. $2,635,000. (AZCentral -- Business)
Truth about health care, illegal immigrants Sep 24, 2009
Instead, lower malpractice premiums by providing limited liability protection for the hospitals and doctors treating patients without insurance coverage. That, he said, would save money for premiums as well as reduce some of the costs associated with defensive medicine. (Athens Banner-Herald)
Granite City swaps debt for equity Sep 22, 2009
The shares will be turned over to DHW Leasing, a limited liability corporation. However, Granite City will reserve rights to buy back some of the stock issued to DHW. Granite City would pay. (Twin Cities Business Journal, MN)
Blumenthal: State Marshals Broke Law By Double-Charging For Deliveries Sep 22, 2009
The opinion also says that under state law, marshals may not operate under limited liability corporations and may not hire other marshals on salary. The legal opinion will likely affect the state's top-earning marshal, John T. Fiorillo, who collected $3 million in foreclosure work last year and cleared more than $1 million after expenses. (FOX61, CT)
Risking all often the point Sep 22, 2009
Its worth recalling that before the introduction of limited liability in the 19th century, investors in stocks stood to lose it all, even for making a minor investment ... We could do well to consider a return to unlimited liability if only to better focus the actual meaning of risk ... It's like everyone wants a limited liability in life. (Sydney Morning Herald -- Opinion)
Kenya: Tea Farmers Set to Earn More Despite Drought Sep 22, 2009
KTDA also recently registered a microfinance firm, Greenland Fedha Ltd, a non-deposit-taking limited liability company with an initial share capital of Sh160 million. Although the move was met with stiff opposition from other players, the firm shall offer loans to tea farmers at an interest rate of 8. (allAfrica.com)
Tri-board meeting has Feoffees in cross hairs Sep 22, 2009
The Feoffees formed a limited liability corporation, LNSW LLC, and received a 20-year loan to pay for the system. As an LLC, there are no obligations for public reporting of disbursal of income. (Ipswich Chronicle, MA)
Ice cream shop soon to come Sep 20, 2009
The ice cream shop will be a Limited Liability Corporation, a for-profit business under Circle of Friends. Volunteers from Citrusuco and Hutto s Construction Company showed up at Bargain City shortly after 10 a.m. Wednesday to unload the ice cream parlor equipment, which has a story of its own. (Lake Wales News, FL)
More business registration forms online Sep 20, 2009
Documents available today for immediate purchase include articles of incorporation, annual filings, partnership and limited liability company formation documents, and foreign statements of qualification. The DCCA's online registration service is part of the Lingle administration's efforts to provide individuals and businesses with innovative and efficient online government services. (Honolulu Advertiser)
Budget problems threaten state corporation panel Sep 19, 2009
On one hand, there is money coming in, to the tune of about 233,000 a month paid by individuals who file papers for new corporations at 60 a pop and 50 fees for limited liability companies. But there is no statutory authority to use that money to pay the bills. (Sierra Vista Herald, AZ)
Sumant Batra, President of UK-based INSOL Sep 19, 2009
Personal insolvency law should be under the administrative domain of the ministry of corporate affairs, which has learnt so much from preparing the corporate insolvency law and insolvency of limited liability partnerships. The proposed reforms were conceived before the global financial crisis. (India Times)
Three parcels of land and four developers that have taken interest Sep 19, 2009
Though ownership of the planned Symmes development transferred from E. A. Fish to JPI a few years ago, Fish, a Boston-based developer, is still listed as the resident agent and manager, through a chain of limited liability companies. Brigham s. (Arlington Advocate, MA)
Opening a Home Based Upholstery Sho... Sep 19, 2009
Business type refers to whether the business will be a sole proprietorship, a partnership, or a limited liability corporation. This is an especially important consideration for an upholstery shop. (Suite101.com)
FDIC sells off Franklin assets Sep 18, 2009
The FDIC has set up a limited liability company containing the Franklin assets, and Residential Credit will pay $64 million for a 50 percent equity stake in the company, which in turn will issue a note in the amount of $727. 7 million to the FDIC as receiver. (Houston Business Journal, TX)
Find the Joy in Real Estate Sep 18, 2009
They would be smart, for example, to seek the advice of a tax professional to create an S corporation or a limited liability corporation, which would lower their tax bills by allowing them to deduct business expenses. Agents also would be wise to spend more time on lead management, as dedicating too much time to marketing makes little sense if they have not cultivated the necessary leads. (Realtor Magazine Online)
RCS to Purchase $1.3 Billion in Residential Mortgage Loans From FDIC Sep 17, 2009
The LLP is part of the Public-Private Investment Program announced in March by the Secretary of the Treasury, the Federal Reserve, and the FDIC. In the pilot sale, RCS will purchase a managing membership interest in a limited liability corporation (LLC) that will hold the entire pool of mortgage loans. RCS and the FDIC will each own a 50% equity interest in the LLC while RCS will manage and service the loans on behalf of the LLC. As part of the LLP pilot program, the FDIC is providing a funding... (PR Newswire)
Residential Credit Solutions wins FDIC bid Sep 17, 2009
2 million in cash for a 50-percent equity stake in a limited liability company, to which the FDIC will convey the residential mortgage loans. The LLC will then issue a note of $727. (Dallas Business Journal, TX)
Michael Mastro Sr. in court, answers first wave of questions Sep 16, 2009
Rigby questioned Mastro closely about the purchase of the rings and other significant jewelry and the transfer of these and other assets into a limited liability corporation. Mastro said the transfers were made on advice of a lawyer as part of his estate planning. (Puget Sound Business Journal, WA)
SEC goes after SoBe condo-hotel developer Sep 15, 2009
is alleged to have fraudulently offered and sold about $9 million of securities to about 55 investors in the form of membership interests in various limited liability companies that he controlled and operated, according to an SEC news release. According to the complaint, filed in federal court in Illinois, Falor was to use the investors money to buy old hotels and convert them to condo-hotels and sell them at a profit. (South Florida Business Journal, FL)
Doing Business in Iraq: 10 Smart Rules Sep 15, 2009
For foreign companies wishing to establish a separate corporate entity for doing business in Iraq, rather than a branch office, there are a range of incorporation options, including the limited liability company, joint stock company, joint liability company, sole owner company, and simple company ... The most popular forms of incorporation for foreign-owned entities are the limited liability company and joint stock company. (BusinessWeek)
Xavier Charter School grows, plans new building Sep 14, 2009
Through a limited liability company, Paragon Schools will own the new building after constructing it and lease the school to Xavier. Such arrangements give schools time to get established before seeking financing for buying buildings and lease agreements typically include the option to purchase in the future, Fairbanks said. (Burley South Idaho Press, ID)
Scottsdale home building off 63% for year Sep 11, 2009
Barry Gabel and Mindy Korth of CB Richard Ellis represented the seller, Mesquite Corporate Partners, an Arizona limited liability company with offices in Parsippany, N.J.. Developed by Trammell Crow in 1999, the building is along the Kierland Golf Club. (AZCentral -- Business)
Preuksa Signs an MOU to Establish its First Joint Venture in Vietnam - The Company's First Project in Haifong is Worth Over One Billion Baht Sep 10, 2009
BANGKOK, Sept. 8 /PRNewswire-Asia/ -- Mr. Thongma Vijitpongpun, President and Chief Executive Officer of Preuksa Real Estate Public Company Limited, revealed that, "We are delighted to announce that we have recently signed a Memorandum of Understanding (MOU) with Mr. Do Huu Ha, the President of Hoang Huy Services Investment Joint Stock Company, to jointly invest in Vietnam. Through this collaboration, a joint venture under the name Preuksa Vietnam Limited Liability Company is established with a... (PR Newswire)
More of this story Sep 9, 2009
The limited liability corporation is affiliated with Realty Financial Partners, a Wellesley, Mass. -based real estate investment company co-founded by Allen in 1994. (Westerly Sun, RI)
Changing channels Sep 9, 2009
Fusion created a Kentucky limited liability corporation, Louisville TV Group LLC, for the acquisition, and Louisville TV Group signed a contract for the Kaden Tower space in August. The company s former owner, WBKISLG LLC, owns the building on Alliant Drive where WBKI is now, said Terry Glaser, the station s sales manager. (Louisville Business First, KY)
Business.view: The voice of business Sep 9, 2009
This ruling was later clarified by the Supreme Court under Chief Justice William Rehnquist, who had dissented from the Bellotti ruling, noting that a state grants to a business corporation the blessings of potentially perpetual life and limited liability to enhance its efficiency as an economic entity. It might reasonably be concluded that those properties, so beneficial in the economic sphere, pose special dangers in the political sphere. (The Economist)
EagleRidge to get a new home Sep 9, 2009
The EagleRidge board of directors, which has full autonomy in governing the charter school, established a limited liability corporation that allows private citizens and the school to invest in the building. When the building is ready to be occupied, EagleRidge Community Development LLC will purchase the land from Capstone, wrote Bill Ganong in an e-mail. (Klamath Falls Herald & News, OR)
Oberthur Technologies and Comex Electronics Sign a Partnership Agreement Sep 8, 2009
Oberthur Technologies S.A. is a limited liability company (societe anonyme) registered in France with its registered office at 50 quai Michelet 92300 Levallois Perret, France. Oberthur Technologies S.A.'s corporate registration number is 340 709 534 R.C.S. Paris. (PR Newswire)
Business resources Sep 7, 2009
Sole proprietors are required to register with the state only if they choose to incorporate their business or establish a limited liability company or a limited partnership. "What about taxes?". (The Augusta Chronicle)
Towne Place receiver named Sep 5, 2009
Bear Creek Capital began building Kenwood Towne Place in 2007 after a limited liability company owned by developer Tom Neyer and nursing home operator Hank Schneider paid nearly $6 million to acquire the old Safeco Insurance property near Kenwood Towne Centre. The $180 million project was on track and several tenants were poised to move in when liens began piling up at the beginning of this year. (Cincinnati Business Courier, OH)
NDC cronyism, The Reason for fuel shortages Sep 5, 2009
Checks at the Registrar Generals office have revealed that this company is not a limited liability company, there are no details as to who its shareholders are. SMOKs business registration certificate number (CA 60,803) was the only information available at the Registrar Generals office. (Ghana Web, Ghana)
60 plush mansions 'rot' after Ghana@50 Sep 4, 2009
The African Union Development Consortium Limited (AUDCL), a limited liability company, built 60 mansions at locations including Ridge and La, both in Accra, to house dignitaries invited to the celebration of Ghanas 50th birthday. The consortium made up of three banks Prudential Bank, National Investment Bank and the Agricultural Development Bank were per an agreement reached with the secretariat required to sell the properties to recover their monies. (Ghana Web, Ghana)
Tenants win injunction against Page Mill Sep 3, 2009
Tenants' attorneys Robert Hawk and Ryan Marsh, both from the local firm Hogan on, argued that Page Mill acted in bad faith when it characterized its limited liability companies as entities separate from itself. Hawk argued that Page Mill typically treats all the apartments owned by these companies as its own when it sends out newsletters to tenants or applies for loans. (Palo Alto Online, CA)
• M.V. Mall lawsuits spike in 2009 Sep 2, 2009
By comparison, Magic Valley Mall, a Utah limited liability company, filed no law suits last year and only two in 2006, seeking a total of more than 17,000, TwinFalls County court records show. This year's cases were filed against Miley Insurance and Financial Services, Inc. on Jan. 27, and on May 14 filings were made against Just My Style LLC, Magic Valley Roasted Bean, and Speedy Specs LLC.. (Burley South Idaho Press, ID)
Cherry Creek Place apts. sold for $5.9M Sep 2, 2009
The 141-unit complex located at 818-848 S. Dexter St. was purchased by an undisclosed limited liability company, Marcus & Millichap Real Estate Investment Services Inc. said Tuesday. The brokerage firm s Denver office represented both sides of the deal. (Denver Business Journal, CO)
Bias against innovation Sep 2, 2009
In capital markets, equity within a limited liability framework has facilitated capital formation on a scale that would have been unthinkable without it. Yet Adam Smith regarded it as an inducement to excessive risk-taking. (FT.com -- Markets)
Promenade target of involuntary bankruptcy Sep 2, 2009
The developer of the Promenade at Riverwalk in Bradenton faces another fight in his battle to build the project: A creditor is seeking to thrust the limited liability company into bankruptcy. and filed a Chapter 11 involuntary bankruptcy petition Tuesday, asking the court to force to reorganize. (Tampa Bay Business Journal, FL)
South Floridians charged in land scam Sep 1, 2009
In other cases, buyers were told they were purchasing individual parcels of land on which they could build when, in fact, they were purchasing land with other buyers through a limited liability company, and could not build individually on the property, according to the news release. DePons is alleged to have conducted the closings on the sales, and collected money from the buyers. (South Florida Business Journal, FL)
Utica grievances denied in 2008 Aug 30, 2009
BG Mohawk Stop, a limited liability company that owns the Hannaford Plaza in East Utica , applied for a lower assessment for each store at the plaza. That includes a request to lower the assessment at the main store from $3. (Utica NY Obserer, NY)
Highwater Ethanol LLC includes a zero-discharge water system in its design (2) Aug 30, 2009
The company, organized as a limited liability corporation, has approximately 1,500 investors from all walks of life, according to Kletscher. Farmers are providing a lot of experience and direction for the company nine of the eleven governors on the LLC board are corn or livestock producers, including board president David G. Moldan. (Minnesota Farm Guide, MN)
Paterson decides on more than 80 bills Aug 29, 2009
Under the bill, for the first time, such action can now be taken against partnerships and limited liability companies, which are becoming more popular forms of starting a business. The bill also raises the minimum possible civil penalty that employers face for wage law violations from $200 to $1,000. (Albany Business Review, NY)
