Monday, December 14, 2020 10:32:13 AM
DL, a natural person, was appointed the custodian. The controlling shares were held by Custodian Ventures, LLC not DL. Yes, DL controls CV but there is a critical difference here. Reading NV state law regarding custodianships, the custodian does NOT have to be a shareholder, they are selected by the shareholders.
I await word from the court either transferring the custodianship from DL to Wei Tian or terminating it.
One of 3 options:
1) DL retains custodianship and simply works on behalf of Wei Tian. or,
2) Transfer custodianship from DL to Wei Tian. or,
3) Termination of custodianship.
I don't think #3 will happen as part of this sale because the termination doesn't usually happen until the RM.
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