Armstrong's Letter to Rathbun


Silver Meritorious Sponsor
Which is of course coming under a due measure of flak because Gerry tends to be a little full of himself.

Still, the obvious fact is that Marty has *no* intention of 'coming clean' except as far as it will help him.


Tim Skog

Silver Meritorious Patron
The letter from Gerry to Marty is overly long, but the point is well made by Gerry that the right thing for Marty is to step up in this case. So, Marty . . . :hourglass:


I've just read the whole thing. With or without Gerry's blurb, Marty's declaration speaks for itself.

Given that declaration alone, Marty would have to step up bigtime before he got any kind of pat on the back from me - I still haven't closed the door on the hope that he will step up though.


Too long.

But I think it does raise a point. Generally,(in US Law) a corporate officer, acting within an official capacity, is shielded from personal liability. It is a basic tenet of the corporate form that officers and directors are free to rely upon the corporate form to protect personal assets from awards and judgments levied against the corporation. Typically, a plaintiff seeking to establish an individual’s personal liability for what appears to be a corporate act must "pierce the corporate veil." Factors considered when deciding when to pierce the corporate veil include whether:

* the corporate form was used for fraudulent or illegal purposes;
* the corporation is adequately capitalized;
* the corporation complied with corporate formalities; and
* the corporation is, in fact, an alter ego.

From what we have gleaned, the CoS and RTC violate at least 3 of the 4 above points.

It might be more productive to get documentation form Marty about the above, so that the corporate veil can be pierced once and for all, and this beast put to rest.