As Ross was attempting to comb through the new company that Tim bought, the uneasy feeling kept growing in him.
Finally, Ross's biggest concerns were realized one morning , when Tim called Ross and said.
"Ross, please come over to my office ASAP I need to talk to you seriously in a quiet place, face to face" Tim said, his voice sounding almost.. dismal.
"Will be there immediately" Ross said, grabbing his sport jacket, and dashing out the door.
"I'm going over to Tim's office. Do not know how long I will be I have an important meeting with him" Ross said to his secretary.
Ross jumped into an Uber, went to Tim's office, and upstairs to Tim's private office.
"Tim, what's up?" Ross asked in entering.
Tim tossed the claim papers on his desk in the chair Ross was sitting in.
"What's up is that, increasing and mounting lawsuits and claims against the new company, by creditors, and even tax claims. This simply because someone got wind that a new owner took over. What happened is that the people who sold this to me, bolted out, and left the company, and now me, with these" Tim said.
Ross sighed
"Is this the reason you kept being uncomfortable while you were analyzing the company?" Tim asked.
"I did not know it was this, specifically, but something does not seem to make sense. Could you, try to contact your attorney and sue the former owners for, deceiving you into the buy. I dont know the legal terms of course because I'm not a lawyer. It would definitely seem like you should have a claims lawyer or a tax lawyer, depending on what these really turn out to be, and how bad it gets" Ross said.
"As we both know, the problem is that tax debts cannot be discharged in bankruptcy. The civil creditors we can get rid of by the company filing for bankruptcy/ We know that tax debts or liens, that is not possible" Tim said.
"Well, Tim you're a genius businessman. You know what has to be done. Call a bankruptcy attorney and a tax lawyer, show them all this, and then let them tell you what has to be done, to either deal with it, or let the company file for bankruptcy, and figure out what the tax debt is, and how to reduce it down to the least possible amount, and then pay it, get rid of the tax debt, and the company" Ross said.
Tim and Ross both sighed.
"I'm sorry, my friend. Unfortunately, both of us have had this happen to us by shooting before finding the right place on the target" Ross said.
"We will figure a way out of this. Just do what you always do with my other work. Let me handle this, and if someone from either the tax department or the potential bankruptcy people have to call you, they will. You are my full business manager even though you are not a CPA or a lawyer. All I really do is sell and market products and figure out how and where to do them, and that is why you and me work together so well" Tim said.
Just then, Ross's cell phone, which he had left on , rang. It was Fritz.
"It's Mister P, may I take it?" Ross asked.
"Sure, for a minute or two" Tim replied.
"Mister P, good afternoon, sir, how are you? I'm in an important meeting with Tim at his office. Can I call you later when I get back to my office or home?" Ross asked.
"Sure. We will have more of a chance to talk then when your head is clear, and you are alone. Just so you know the reason for my call. Even though you're a great guy, this is not a social call. Our little potential mall deal may be Dead On Arrival before it even starts. People who live in the area are threatening to sue and go to the zoning commission about it being an "unneeded retail property" causing traffic in too much of a residential area of multi house developments and single house developments. This could be a big, big problem" Fritz said.
Ross mouthed the word "Fuck" and then stopped himself so as not to swear in front of Tim.
"Mister P, that is not good news. As I said, I'm with Tim. When I finish with him, I will contact you either when I get back to the office, or tonight. We will discuss this and see what we can do to figure it out" Ross said.
"Okay, I will talk to you later" Fritz said, hanging up.
"Problem?" Tim asked.
"Just may be an issue with Fritz in a non oil and gas deal we are trying to do. I have to get details, and then we have to figure it out. Gosh this is not a good day" Ross said.
"Okay, so, we've discussed, and have our plan about what we are going to do with this company. I will call the best tax lawyer and bankruptcy lawyers I know, and if you have anyone, let me know" Tim said.
"Okay, buddy, I will. We will talk tonight or tomorrow. Let me go back to the office, grab some papers, and get out of there. I have to go home and think where it's quiet and where the phone won't ring" Ross said.
Ross went back to the office, grabbed papers, and dashed out. It was only 3 pm.
"I'm gone for the day. Tim and Fritz know where I am. I have to discuss important things with them, and it s best I do it from home, as it will be quiet, and I can just do it in the home office. Should be in tomorrow depending" Ross said.
"Okay, have a good day, Ross" Vic said.
Ross rode home in the Uber to Queens with the weight of the world on his shoulders. It was 345 when he got to his building.
When Ross unlocked the apartment door, Kayley met him. "That's nice and early" Kayley said,.
"Early yes, nice anything but. In the last hour, two potentially very major problems hit" Ross began.
"What are those?" Kayley said.
"Well, one, and most important. The uneasy feelings I had about Tim;'s new company came to pass today when the company was sued by both creditors of the old and former owners, and had liens put on it by the tax department. Tim and me are going to have to talk to tax and bankruptcy lawyers. Since I handle all of his business and financial affairs, the two of us, and lawyers have to figure this out. This will not be easy" Ross said.
"Oh, fuck. That's bad. Sorry for you guys" Kayley said.
"And.. the new shopping mall idea that Fritz, Steve and me talked about, could well be Dead In Arrival " so to say due to zoning laws and lawsuits from residents in the area for unneeded commercial, increased traffic or however you say it. I will not be happy if that happens, but all it is is a business idea that did not get off the ground. If that does happen, we will probably just drop the whole idea and distract ourselves with a new oil and gas deal of whatever size or buy another struggling energy company. The Tim situation could be far, far more serious, depending" Ross said.
Just then Ross's cell phone rang, it was Tim.
"Yes, Tim" Ross said.
"Day after tomorrow. you and me are going to meet with both bankruptcy and tax lawyers , two separate guys who happen to share the same office. I had them block time out for us, so we will meet with both separately first, and then all four of us together. We have to really get down to the nitty gritty legal details, of just what this is, how it could affect, and how best to get out of it" Tim said.
"Okay, you let me know where and when to meet you or them, and you know I will be there" Ross said.
"Take care, Ross, we could have a ride ahead for us" Tim said.
"I'm on it with you all the way, my friend" Ross said, hanging up the phone.
Ross sighed.
"What?" Kayley asked.
"I;m not going to give details of things until I see. Yet, I was thinking. This situation with Tim is like a different version of what happened to me with George Borgier. I'm supposed to buy his company, Borgier gets sued by the tax department to stop things, then he and I sue each other, and you know where that ended up. Except, that this time Tim already bought and signed for the company that was sold to him. He might be able to sue the guy for selling under false pretenses, but we know that I'm not an attorney" Ross said.
Kayley went over and rubbed Ross.
"It was a bad day. You will figure it out with Fritz and Tim. You work well with Fritz and Tim and they both trust you. This will turn out to be a more serious bump in the road than usual, but it will settle down" Kayley said.
Ross nodded, wandered into his den, put his sport jacket on his chair, and sat in the chair thinking.
Two serious situations like this, both at once, both on the same day?
One, the shopping mall, could simply be walked away from, unless Fritz, Steve and Ross found another proper place to build retail stores of some kind, or distracted themselves with another oil and gas deal to give them time to figure something else out.
The other, Tim, was the unknown.
What would happen, most importantly, with Tim, the company, the tax departments, and the debts, and liens, and claims?
That would be seen very soon.
Finally, Ross's biggest concerns were realized one morning , when Tim called Ross and said.
"Ross, please come over to my office ASAP I need to talk to you seriously in a quiet place, face to face" Tim said, his voice sounding almost.. dismal.
"Will be there immediately" Ross said, grabbing his sport jacket, and dashing out the door.
"I'm going over to Tim's office. Do not know how long I will be I have an important meeting with him" Ross said to his secretary.
Ross jumped into an Uber, went to Tim's office, and upstairs to Tim's private office.
"Tim, what's up?" Ross asked in entering.
Tim tossed the claim papers on his desk in the chair Ross was sitting in.
"What's up is that, increasing and mounting lawsuits and claims against the new company, by creditors, and even tax claims. This simply because someone got wind that a new owner took over. What happened is that the people who sold this to me, bolted out, and left the company, and now me, with these" Tim said.
Ross sighed
"Is this the reason you kept being uncomfortable while you were analyzing the company?" Tim asked.
"I did not know it was this, specifically, but something does not seem to make sense. Could you, try to contact your attorney and sue the former owners for, deceiving you into the buy. I dont know the legal terms of course because I'm not a lawyer. It would definitely seem like you should have a claims lawyer or a tax lawyer, depending on what these really turn out to be, and how bad it gets" Ross said.
"As we both know, the problem is that tax debts cannot be discharged in bankruptcy. The civil creditors we can get rid of by the company filing for bankruptcy/ We know that tax debts or liens, that is not possible" Tim said.
"Well, Tim you're a genius businessman. You know what has to be done. Call a bankruptcy attorney and a tax lawyer, show them all this, and then let them tell you what has to be done, to either deal with it, or let the company file for bankruptcy, and figure out what the tax debt is, and how to reduce it down to the least possible amount, and then pay it, get rid of the tax debt, and the company" Ross said.
Tim and Ross both sighed.
"I'm sorry, my friend. Unfortunately, both of us have had this happen to us by shooting before finding the right place on the target" Ross said.
"We will figure a way out of this. Just do what you always do with my other work. Let me handle this, and if someone from either the tax department or the potential bankruptcy people have to call you, they will. You are my full business manager even though you are not a CPA or a lawyer. All I really do is sell and market products and figure out how and where to do them, and that is why you and me work together so well" Tim said.
Just then, Ross's cell phone, which he had left on , rang. It was Fritz.
"It's Mister P, may I take it?" Ross asked.
"Sure, for a minute or two" Tim replied.
"Mister P, good afternoon, sir, how are you? I'm in an important meeting with Tim at his office. Can I call you later when I get back to my office or home?" Ross asked.
"Sure. We will have more of a chance to talk then when your head is clear, and you are alone. Just so you know the reason for my call. Even though you're a great guy, this is not a social call. Our little potential mall deal may be Dead On Arrival before it even starts. People who live in the area are threatening to sue and go to the zoning commission about it being an "unneeded retail property" causing traffic in too much of a residential area of multi house developments and single house developments. This could be a big, big problem" Fritz said.
Ross mouthed the word "Fuck" and then stopped himself so as not to swear in front of Tim.
"Mister P, that is not good news. As I said, I'm with Tim. When I finish with him, I will contact you either when I get back to the office, or tonight. We will discuss this and see what we can do to figure it out" Ross said.
"Okay, I will talk to you later" Fritz said, hanging up.
"Problem?" Tim asked.
"Just may be an issue with Fritz in a non oil and gas deal we are trying to do. I have to get details, and then we have to figure it out. Gosh this is not a good day" Ross said.
"Okay, so, we've discussed, and have our plan about what we are going to do with this company. I will call the best tax lawyer and bankruptcy lawyers I know, and if you have anyone, let me know" Tim said.
"Okay, buddy, I will. We will talk tonight or tomorrow. Let me go back to the office, grab some papers, and get out of there. I have to go home and think where it's quiet and where the phone won't ring" Ross said.
Ross went back to the office, grabbed papers, and dashed out. It was only 3 pm.
"I'm gone for the day. Tim and Fritz know where I am. I have to discuss important things with them, and it s best I do it from home, as it will be quiet, and I can just do it in the home office. Should be in tomorrow depending" Ross said.
"Okay, have a good day, Ross" Vic said.
Ross rode home in the Uber to Queens with the weight of the world on his shoulders. It was 345 when he got to his building.
When Ross unlocked the apartment door, Kayley met him. "That's nice and early" Kayley said,.
"Early yes, nice anything but. In the last hour, two potentially very major problems hit" Ross began.
"What are those?" Kayley said.
"Well, one, and most important. The uneasy feelings I had about Tim;'s new company came to pass today when the company was sued by both creditors of the old and former owners, and had liens put on it by the tax department. Tim and me are going to have to talk to tax and bankruptcy lawyers. Since I handle all of his business and financial affairs, the two of us, and lawyers have to figure this out. This will not be easy" Ross said.
"Oh, fuck. That's bad. Sorry for you guys" Kayley said.
"And.. the new shopping mall idea that Fritz, Steve and me talked about, could well be Dead In Arrival " so to say due to zoning laws and lawsuits from residents in the area for unneeded commercial, increased traffic or however you say it. I will not be happy if that happens, but all it is is a business idea that did not get off the ground. If that does happen, we will probably just drop the whole idea and distract ourselves with a new oil and gas deal of whatever size or buy another struggling energy company. The Tim situation could be far, far more serious, depending" Ross said.
Just then Ross's cell phone rang, it was Tim.
"Yes, Tim" Ross said.
"Day after tomorrow. you and me are going to meet with both bankruptcy and tax lawyers , two separate guys who happen to share the same office. I had them block time out for us, so we will meet with both separately first, and then all four of us together. We have to really get down to the nitty gritty legal details, of just what this is, how it could affect, and how best to get out of it" Tim said.
"Okay, you let me know where and when to meet you or them, and you know I will be there" Ross said.
"Take care, Ross, we could have a ride ahead for us" Tim said.
"I'm on it with you all the way, my friend" Ross said, hanging up the phone.
Ross sighed.
"What?" Kayley asked.
"I;m not going to give details of things until I see. Yet, I was thinking. This situation with Tim is like a different version of what happened to me with George Borgier. I'm supposed to buy his company, Borgier gets sued by the tax department to stop things, then he and I sue each other, and you know where that ended up. Except, that this time Tim already bought and signed for the company that was sold to him. He might be able to sue the guy for selling under false pretenses, but we know that I'm not an attorney" Ross said.
Kayley went over and rubbed Ross.
"It was a bad day. You will figure it out with Fritz and Tim. You work well with Fritz and Tim and they both trust you. This will turn out to be a more serious bump in the road than usual, but it will settle down" Kayley said.
Ross nodded, wandered into his den, put his sport jacket on his chair, and sat in the chair thinking.
Two serious situations like this, both at once, both on the same day?
One, the shopping mall, could simply be walked away from, unless Fritz, Steve and Ross found another proper place to build retail stores of some kind, or distracted themselves with another oil and gas deal to give them time to figure something else out.
The other, Tim, was the unknown.
What would happen, most importantly, with Tim, the company, the tax departments, and the debts, and liens, and claims?
That would be seen very soon.
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