Replies to post #21426 on Scepter Holdings Inc. (BRZL)

[~ Blue ~]

you mean SEC filling is a lie.. you mean JR is a stup**d businessman..

[fandicaprio]

Rainmaker....when did u know all these "absolute truths"?? The second after your shorting??? LOL

[packerfanbud]

You posted the following and have alluded to it many times before.

They gave James Renfro 480 million shares just for trying really hard

Other than the fact that it is absurd to post something like this when we constantly have CEO's of Multi Billion dollar companies who run them into bankruptcy and then walk away with golden parachutes worth hundreds of millions of dollars. I bet these guys "tried real hard" too. They still had no obligation to deliver, or any consequences at all.

Anyway, I figured that the sec filings would give me the information I needed to prove you wrong. Again.

In the services agreement filed here

http://www.sec.gov/Archives/edgar/data/1420924/000114420410031685/v187346_ex99.htm

I noticed this statement

8. Indemnity. The Company shall indemnify Consultant for any and all losses to the maximum extent permitted applicable law.

Here is what wikipedia says about indemnity.

http://en.wikipedia.org/wiki/Indemnity

Indemnity is often used as a synonym for compensation or reparation.

As a legal concept, it has a more specific meaning, namely, to compensate another party to a contract for any loss that such other party may suffer during the performance of the contract. For instance, compensation connotes merely a sum paid to make good the loss of another without regard to the payer's identity or their reasons for doing so. As the following paragraphs should explain, an indemnity is a sub-species of compensation, in the same way that Damages and reparation are.

I am not a lawyer, but I would bet that if Renfro fails to complete then BRZL would suffer a loss. That loss would be the 480 million shares. Therefore, I would think the return of those shares would satisfy the indemnity clause in the contract. I may be wrong about that, but I'll stand by it until you can provide documentation that it is not true.

[Buddhasib]

If you owned 480M of this, would you be motivated to bring value to it? Has JR generally been successful in accomplishing his goals/achievements, etc?