Reference no: EM131476021
Piercing the Corporate Veil Local farmers in Manchester, Iowa, decided to build an ethanol plant. The farmers and other investors invested $3,865,000 and formed Northeast Iowa Ethanol, LLC (Northeast Iowa), to hold the money and develop the project. The project needed another $20 million, for which financing needed to be secured.
Jerry Drizin formed Global Syndicate International, Inc. (GSI), a Nevada corporation, with $250 capital. Drizin formed GSI for the purpose of assisting Northeast Iowa to raise the additional financing for the project. Drizin talked Northeast Iowa into transferring its money to GSI, and the money was placed in a bank in south Florida to serve as security for a possible loan. Drizin commingled those funds with his own personal funds. Through an array of complex transfers by GSI, the funds of Northeast Iowa were stolen. Some funds were invested in a worthless gold mine and other worthless investments.
Plaintiff Northeast Iowa sued Drizin for civil fraud to recover its funds. Drizin defended, arguing that GSI, the corporation, was liable but that he was not personally liable because he was but a shareholder of GSI. The plaintiffs alleged that the doctrine of piercing the corporate veil applied and that Drizin was therefore personally liable for the funds. Who wins? Northeast Iowa Ethanol, LLC v. Drizin, Web 2006 U.S. Dist. Lexis 4828 (United States District Court for the Northern District of Iowa)
|
Standard renewable energy in oklahoma
: 1) When pricing its products, what external factors should Standard Renewable Energy in Oklahoma pay particular attention to and why?
|
|
Price-conscious and prestige-conscious customers
: How are value-conscious, price-conscious and prestige-conscious customers likely to react to the price of a wind turbine?
|
|
Write a function cubic lnterp two-d
: Write a function Cubiclnterp2D. Determine i and j as in Linear Interp2D. Let cr(x) be the cubic interpolant of f at (Xi-I, v-). (Xi, v-). (XHI, v-).
|
|
Labour markets in professional sports
: In reference to labour markets in professional sports, discuss how players are paid.
|
|
Decided to build an ethanol plant
: Piercing the Corporate Veil Local farmers in Manchester, Iowa, decided to build an ethanol plant.
|
|
Find z score corresponding to a confidence level
: Find z score corresponding to a 95% confidence level, za/2. Recall that (1 - a)100% = 95%. Construct a 95% confidence interval for µ.
|
|
Canadian treatment of foreign corporate incomes
: Which of the conditions fits the Canadian treatment of foreign corporate incomes best? equal?
|
|
Define the principles of graphic design
: You have been asked to provide an expert review of the Kakadu National Park (Jabiru, Northern Territory, Australia) web site.
|
|
Prepare tables that show how firms estimated value changes
: You are a financial analyst at a leading company. Prepare tables that show how firm's estimated value changes as you vary the key inputs over relevant ranges.
|