eg-legal
Home Discussion Legal Questions Questions Answered By Lawyers What are our options if we need to take over an investment

What are our options if we need to take over an investment

We are a group of 55 investors who invested money alsmot 4 years ago into a real estate project through a company, the investment is in form of bonds. The money was used to buy the property and financing was put in place by the company for the construction. The liability is on the owner of the company, not the company itself. The company is going under and they are asking us, 55 investors to get involved to keep the project going so we don't loose our money. Few questions:

- If we open a corporation, do we need personal garrantee?

- Owner wants out, If we take over the financing, are we now reliable for mortgages...?

- IF we can't contact all 55 investors, can we make decision for them?

- We started a committee of 5 people, what kind of disclaimer do we need to protect ourselves?

 

Authors: ratealawyer.com

Read more http://legal.advicescene.com/ca/question/1006274

You are here Legal Questions Questions Answered By Lawyers What are our options if we need to take over an investment
8600+ active users, more than 2300 legal articles--online legal directory and rating service! Register Now!