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The irony. JKP brought down by a Jewish Porn Beat Writer, an Arab lawyer representing himself as a goofball Catholic Priest, and a smartass WASP from Harvard who looks like Matt Casey.

aside:The Fridge was in my Business Law class




In a sick way... I envy you. Chris Zorich is actually a really nice guy, but he's still low on the totem pole in Chicago law pecking order. I think the Fridge could make partner just on the basis of his shuffling skills.

Back to JKP: the funny thing is that you can see the writing on the wall of it right now, or at least one possible scenario. Forget about where the money is coming from and going to ($9 million dollars loss in one year? Why would they even have a nine million dollar gross budget, total, much less a loss of that amount?) Everyone that owes that company will be mutilated if Bob simply calls in the deferred compensation and loans he's made. Their "board"? Seriously, slap yourself around, people. Jill is an employee of her own company, she's not going to stand in the way of anything.

How could a company with probably less than 10 full employees lose $9 million dollars? Most of it, of course, was Bob's capital, and most of it was before they went public. The former makes me arch an eyebrow, but does the latter have any signficance? What kind of due diligence has to be done on that $9 million once they went public? Can he simply point to a balance sheet that says, in paper, he transferred X amount of money to the company?

(I mean all this practically, not by the letter of the law. I'm a lawyer, I've never told anyone to lie but I've been lied to plenty by my clients, so let's not go the "presumably" route. I'm wondering what the SEC would flag as being highly dubious or not.)
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