Quote:
Originally Posted by TheBlackTruth
Care to elaborate? Inquiring minds want to know.  |
It's a little more complicated than it sounds, but the jist of it is this:
I have a parent corp in Nevada. All of my web entities are their own corporations, and sub corps of the parent corp.
I have an equity corp that is the lien holder of everything the other corps own.
I am a salaried employee making $250.00 per week.
I have no assets. The corp's own everything. The homes, cars, etc.
Should I be sued personally, I file for bankruptcy as I have no money or assets.
Should one of the websites be sued, I bankrupt that individual corp. My equity corp which is the lien holder of all assets of the corp will repossess all assets of the bankrupt corp.
I in essence repossess my own assets, and the judgment holder gets nothing.
That's it in a nutshell. Talk to a good attorney.