AnCaps
ANARCHO-CAPITALISTS
Bitch-Slapping Statists For Fun & Profit Based On The Non-Aggression Principle
 
HomePortalGalleryRegisterLog in

 :: Anarcho-Capitalist Categorical Imperatives :: Via AnCaps: Law & Enforced Unnatural Order
 

 Mogul sold his stake for just $100,000, to claim a $700 million tax loss

View previous topic View next topic Go down 
AuthorMessage
CovOps

CovOps

Female Location : Ether-Sphere
Job/hobbies : Irrationality Exterminator
Humor : Über Serious

Mogul sold his stake for just $100,000, to claim a $700 million tax loss Vide
PostSubject: Mogul sold his stake for just $100,000, to claim a $700 million tax loss   Mogul sold his stake for just $100,000, to claim a $700 million tax loss Icon_minitimeThu May 14, 2009 8:21 pm
Creditors of the video-game company behind the Mortal Kombat series are suing Sumner Redstone and board members after Redstone, Midway’s former majority owner, sold the company in a “fraudulent transfer,” the Chicago Tribune reports. Creditors say the media mogul sold his 87% stake for just $100,000 in order to allow him to claim a $700 million tax loss while the company was driven to bankruptcy.

The five board members in the suit “put the interest of the Redstone defendants above Midway’s interests,” the creditors allege. The buyer of Redstone’s stake, investor Michael Thomas, had no video-game background and was “completely unsuited to be the 87% owner of a publicly traded company.” A rep for Redstone’s company called the suit “completely without merit,” saying his conduct was “entirely proper.”

http://www.chicagotribune.com/business/la-fi-ct-midway14-2009may14,0,5546417.story
Back to top Go down
 

Mogul sold his stake for just $100,000, to claim a $700 million tax loss

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
 :: Anarcho-Capitalist Categorical Imperatives :: Via AnCaps: Law & Enforced Unnatural Order-
 :: 

Anarcho-Capitalist Categorical Imperatives

 :: 

Via AnCaps: Law & Enforced Unnatural Order
Index, Portal, Induct Yourself Here, Forum Technical Non-Assistance, Philosophy & Religion, Realpolitik Statism & Bureaucracy, Law & Order, Rights Individualism & Lifestyles, Laissez-faire Free Trade Zone, Science Technology & Environment, Psychology Edumbcation & IndoctriNation, Culture & Art, Ancapdemia's Ebony Basement, High Octane One-on-One Debate, Celebrate Evildoers' Inadvertent Contributions to Ancap Values, Idiot of the Week Award Nominees Are, Humor, Freestyle Miscellaneous, Ancaps Emporium, OZschwitz Slave Pen Downunder Boutique, Anarcho-Capitalists,AnCaps Forum,Anti-State,Anti-Statist,Inalienable Rights Defenders,Non-Aggression Principle,Non-Initiation of Force Principle,Rothbardians,Anarchist,Capitalist,objectivism,Ayn Rand,Anarcho-Capitalism,Anarcho-Capitalist,politics,libertarianism,Ancap Forum,Anarchist Forum,Vulgar Libertarians,Hippies of The Right,Forum for Anarcho-Capitalist,Forum for Anarcho-Capitalists,Forum for AnCap,Forum for AnCaps,Libertarian,Anarcho-Objectivist,Freedom, Laissez Faire, Free Trade, Black Market, Randroid, Randroids, Rothbardian, AynArchist,Anarcho-Capitalist Forum, Anarchism, Anarchy, Free Market Anarchism, Free Market Anarchy, Market Anarchy, Market Anarchism, Volunteerism, Libertarian anarchism,
Create a forum on Forumotion | ©phpBB | Free forum support | Report an abuse | Forumotion.com