The same situation exists with the corporation. A major issue that has to be resolved before anyone gets a dime is $UOIP itself. There is no one at home to handle the money. The bylaws require 3 directors to be in place, you can argue whether Billy is one, but 2 more at least are needed to transact anything. Or there has to be a custodian named-either an individual or a court administrator. The lawyers for the shareholders are not authorized to distribute corporate assets to shareholders. They would have to be approved by the court as custodians of $UOIP to do that, IMO. And it is time to stop this BS about separate share structures for common shares here, as the lawyers have noted at breakfast- the assets belong to UOIP and all its shareholders, not just the privileged.
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