Replies to post #94200 on JP 3E Holdings Inc (JPTE)

[Mr Smith 34]

Assuming the profoundly incompetent avenue for the moment, IF Bloxcross owns 100% of Hamilton Street Associates, LLC and SPZI owns 51% of Bloxcross, Bloxcross would own the balance (49%) of the property, so why does Park list 100% of the debt and asset value for the 510 Hamilton Street apartment building on SPZI's financials? Also, there is no record that the bank approved, or even knows about, any of these shell game movements.

[I ll be back]

Actually, not true.

So if no "Hamilton Associates LLC" exists then it can't own the apartment complex, yes?

The key here is what the public tax records show has the owner.

It is possible that when the loan was set up that the LLC was current with its public filing and over time let the filing expire. The loan would never have been approved if the public records were not current. Where LLC's gets into trouble is conducting business without the filings being current under the public notice. It can become an issue for the members should any legal action be filed against the LLC. Its where the LLC can start looking more like a "alter ego" of the members.