You’re right Dom.
However, being morally right doesn’t mean being LEGALLY correct.
These limited liability companies that we work with all terminate their responsibilities and liabilities when they cease to exist.
Here’s an example.
My partner was once working for a small company, a reasonable company who had problems with one of the buildings they used. The air conditionaing was always on the fritz and they’d just signed up to a 5-year lease.
Anyway the landlord kept dragging the chain … and the company wanted to move … but had the lease problem.
What did they do?
TRansferred the lease to a newly formed company (with no assets) amusingly called TROPICAL TENANTS … moved out … and then wound up TROPICAL TENANTS.
It took about 3 months and a total of $500 to do. And it was legally all correct. Even though it does not seem right to me …
In this case as Empire cease to be an entity – and the players will no longer make money for Empire … you will be entitled to a lifetime share of ZERO going forward ?
:terms:
It does seem screwy to me … Party Poker will be making money from those players at those properties … and so should inherit their liabilities (your contracts) too.
:dozing:
But I’ve never been good with legal concepts … every time i try to think about them i end up shaking my head, screwing up my face, and reaching for a stiff drink …
:cuss: