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Robert V Cornish Jr.

Robert Cornish’s Answers

2,103 total


  • Do I need an Lawyer? This practice from my company doesn't seem right...

    I'm a commission sales person selling mattresses. My company requires me to sell a certain amount of zero percent financing (forty percent of all sales). If I don't reach this goal I could be fired. Yet there is no incentive to sell these becaus...

    Robert’s Answer

    This could be a violation of Tennessee wage and labor laws, depending on the nature of your employment (at will v. contract, etc). You retain counsel and file a complaint with the TN Dep't of Labor and explore your litigation options.

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  • Caught in a Financial Trap

    Placed on workman's comp 7-7-15 Against my choice. Divorce hearing August 5th after hearing I have to leave. Workman's comp income doesn't cover enough to get an apartment. So I will be homeless . Appointment with a Neuro Surgeon August 6th I...

    Robert’s Answer

    Given that you're in Tempe, you may wish to reach out the Arizona State University Law School Homeless Law Clinic. There are e-mail links to their contact people at the following address:

    https://www.law.asu.edu/currentstudents/CurrentStudents/StudentLife/PublicInterestProBono/ProBonoStudentGroups.aspx

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  • What if I can't get a mortgage to secure my high risk/high reward investment in a real estate development company?

    I am looking at an investment in a real estate development company. It is like a "hard money" loan--high interest, short term. But the underlying properties are already subject to bank mortgages, so all they are willing to offer me as security f...

    Robert’s Answer

    A "hard money" investment in mortgaged real estate? Really? Even you admit your investment is really a "loan." This has trouble written all over it. See a securities attorney to review the offering documents that were provided to you by the investment sponsor. And do a little digging on the people running the deal.

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  • What's the best way to write up the articles of incorporation for a real estate investing company

    real estate investing in single family, multi-family, apartments,

    Robert’s Answer

    You're going to need to sit down with counsel regarding your tax and investment objectives, whether you'll be seeking outside investors and where your money is coming from to invest in the properties. R/e funds can be tricky to form if you don't have all of the details at the ready. Which means you should have a business plan on how you'll invest and the like to share with counsel.

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  • What do I do if I am not getting clear answers or paperwork on an investment that I did in the past?

    My family and I had invested money for a friend's employment. Eight years has past with no clear answers and no paperwork on the investment. Every time we get a date on when we get the money back, it keeps getting push to a later date. The same th...

    Robert’s Answer

    Hopefully you have some paperwork showing exactly what you invested in and what the terms were. In any event, if you are the only one that helped your friend, the action to take is likely going to involve something called an "accounting" that you request through a lawsuit. If you are an owner of an interest in this person's LLC or LP, you may have demand rights to see paperwork and corporate records, which would include the banking records.

    Before you do anything, though, you might want to hire a Private Investigator to ascertain what this guy is actually doing and if he has any money to pay you back.

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  • I was terminated from my job of 22 years for following financial procedures. What type of attorney am I looking for?

    I was the Finance Director for a non-profit social services agency. The Executive Director quit and the Acting Executive Director that replaced him did not have experience and continually pushed for my to go against the agency and the funding sour...

    Robert’s Answer

    Whistleblowing in this instance would not appear to serve as grounds for termination, assuming you following internal procedures regarding the reporting of wrongdoing. You will need to contact an attorney who has experience in working with whistleblowers on both the state and federal levels.

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  • Can I be scammed if I am buying a unit of an LLC for a start up investment of a company that is not yet operating.

    I have been offered to buy a unit at $10,000. The money will go into an LLC. This is a startup investment for a nightclub. I am curious if this company can legally just take my money and run and never start the business.

    Robert’s Answer

    A "unit" of what? Nothing exists at the moment other than a spoken promise. As suggested by others, get some kind of contract in place as to the use of the money, where it is being held and how it will be used.

    You should not invest in something this speculative if you can't afford to lose the money. And no matter what someone says, a funding a nightclub falls into the "speculative" category. It's not like you're buying IBM shares here.

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  • Is it possible to reclaim lost stock certificates after a company has been acquired 2 times by 2 different mergers? See below

    My mother purchased $100K OF SUN MICRO stock totalling sum 800k in shares. Well she lost certificates and since then sun micro was bought out by oracle and then sold again. Since she never filed for replacement or "stop transfer" of certificates...

    Robert’s Answer

    Contact the transfer agent for the shares or shareholder services for the company. There should be some entry in a stock register somewhere. Hopefully you have some dividend checks on some old tax returns somewhere to show that she indeed owned the stock.

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  • Can I charge someone for embezzling if he did not use my investment as agreed upon in a written contract.

    I invested in a business & the individual did not provide invoices of any purchases & he took the money to use for himself. We had a written agreement & it was notarized. He has not payed me back the full amount that was invested as agreed upon ...

    Robert’s Answer

    Your counsel handling the lawsuit should also file a complaint with the Texas Securities Commission and perhaps a Dodd-Frank whistleblower submission to the SEC:

    http://www.sec.gov/about/offices/owb.shtml

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  • Should I take someone I invested money with to court even if I think they have no money to pay me when they lose?

    I gave $150K for an investment with a signed contract that the principal was guaranteed back to me. It's been 5 years and he says they lost the money. He says if I take him to court he will have the whole thing thrown out by claiming bankruptcy an...

    Robert’s Answer

    You and your fellow investors need to hire counsel not only to sue this guy but to possibly get the SEC or another regulator to commence a receivership proceeding. Otherwise, you're looking at chasing this guy down on your own, which can take years of asset tracing and private investigator costs. Your communications with state and federal regulators should be coordinated by counsel and prepared with their assistance. You should also consider hiring a private investigator at this point to see what this guy owns or owned, and what his true financial situation is. One thing in these sorts of cases is that money is often used for non-investment purposes. You may have "fraudulent conveyance" claims that should be pursued.

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