I disagree. The tax entities are going after the company, whomever is in control, as this is a company debt. Bilky cannot weasel his way out of this. Yes, I do fully agree with you that in the end, the Bolzans are still very much responsible, but it is the company that must pay these obligations.
In the end yes, this money is being removed from settlement funds due to the Bolzans, but nonetheless, Bilky’s GDSI as parent will be the ones writing the check and is the party immediately responsible for payment. Bilky certainly isn’t going to give the Bolzans this money hoping that they pay these encumbrances with their sale proceeds.
If we want to stretch the meaning of the “award”, it just means that GDSI doesn’t have to pay these taxes with “their” profits, they get to pay them with the profits that would have gone to the Bolzans.
And yes, Bilky just assumed $192 million in tax obligations, again even tough these obligations will be paid from proceeds that would have gone to the Bolzans.
The celebration is that GDSI did not get stuck paying the Bolzans AND the tax liabilities.
Let me make this simple for those that obviously need it. I buy your business for $100 and find out the business still owes $40 in taxes. Rather than giving you $100 as we agreed, I pay the $40 and then pay you the remaining $60.
The same $100 was exchanged as consideration, but the tax was paid from proceeds DUE TO THE SELLER and I did not get stuck paying $140 for a $100 business.
Pretty simple EXCEPT $100 is more money that any DelCrappo controlled NACSV operation ever made.
Ever... NACSV never, not ever, posted a profit and was shutdown after about a year or so under Bilky’s control.
Not even $100, not $60, not even a $40 profit...
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