Skip to main content
Jonathan H Levy

Jonathan Levy’s Answers

4,573 total


  • How to give shares to my employees and still not lose control of my company?

    I would like to get my employees actively engaged in my business so my success becomes theirs. I have a small S-Corp, private stocks. I could give some shares of the company to my employees but how do I make sure that my employees (alone or in...

    Jonathan’s Answer

    Instead of giving away shares (ownership) in your company and creating potential control issues among other things, you may want to consider a profit sharing plan instead. http://www.dol.gov/ebsa/publications/profitsharing.html

    See question 
  • Will a foreign country immigration authority have the access to my sealed criminal record when I apply for VISA

    I have a dismissed criminal case (I have been arrested for the case) and the record has been sealed. When I apply for the VISA, in the application, they ask whether I have a criminal record, Can I say I do not have one? Or, I have to reveal the se...

    Jonathan’s Answer

    If it is from Massachusetts, you will find these articles very helpful:

    http://www.massbar.org/publications/lawyers-journal/2012/april/a-primer-on-sealing-criminal-records

    http://www.masslegalhelp.org/cori/booklets-folder/know-your-cori-rights.pdf

    See question 
  • I want to sue two Central Banks. How do I find an attorney to represent me?

    One is the Central Bank of Cote D'Ivoire. The other is the Central Bank of Nigeria. I also want to sue Zenith Bank of Nigeria. These banks are withholding funds that I have power-of-attorney for and certificates of ownership for.

    Jonathan’s Answer

    Our firm handles Nigerian matters and we have an associate in Nigeria. However, before you get too wrapped up in this, I suggest having an attorney who knows Nigeria review your documentation. Nigerian paperwork is notorious for being unreliable.

    See question 
  • What happens if you write a check on a frozen account?

    My checking account may be frozen for a check for $300. This was for a payday loan in CA.

    Jonathan’s Answer

    Not sure what you mean here by a frozen account sounds like you passed a bad check. Better cover the $300 ASAP before things get worse.

    See question 
  • Can owner of S. corporation and 100% share holder sue for personal damages caused to him through the corporation

    my corporation is inactive, i had a judgment in the favor of my corporation, it is chapter S. corporation and i have 100% interest in the judgement entered, i hired attorney for collection, after discovery of fraudulent conveyance, he timely file...

    Jonathan’s Answer

    Then the corp. needs to hire a new attorney, assuming they can find one to sue for malpractice. However, some lawyers might be put off by your assertion all Dade County court proceedings are fraudulent.

    See question 
  • International

    A defendant lost a civil lawsuit which incurred a verdict against him for monetary claim. The defendant has cash asset overseas in a country named "Bangladesh". Does any attorney know if "Bangladesh" is in Hague Convention agreement, where monetar...

    Jonathan’s Answer

    Assuming you have some sort of US Court judgment, I think collecting in Bangladesh would be very difficult and frustrating. You may want to consider alternative strategies especially if the defendant is not in Bangladesh or does business elsewhere.

    See question 
  • Which governing law is best to use for an NDA between and Swedish and a Hong Kong company?

    This is an NDA between two ecommerce companies and not between an employee and employer.

    Jonathan’s Answer

    If the jurisdiction is under your control then pick one that is most advantageous to your company and get the other side to agree to it. FYI it does not need to be Sweden or HK.

    See question 
  • Trying to do the right thing. Gaps in reported data to shareholders.

    I am a senior manager at a public company where I noticed gaps in the # of customers the company reported to the shareholders. It didn't feel right so I looked deeper in the data and discovered that the reported numbers were inflated. The report...

    Jonathan’s Answer

    • Selected as best answer

    By doing the right thing you have put yourself in a bit of a box. The allegedly misstated figures may or may not be a big deal. You reported to the CEO and met with her. By going to the Independent Director you definitely are going around the chain of command. I suggest you speak with a local attorney before doing anything that may jeopardize your position.

    See question 
  • Do I have to file a separate 25102(f) notice for each of the two founders who will be purchasing stock?

    My wife and I are the founders (s-corp) and will each be purchasing 1,000,000 shares of the 10,000,000 total for the initial transaction. Par value is$ 0.001.

    Jonathan’s Answer

    "For purposes of this section, a husband and wife (together with any custodian or trustee acting for the account of their minor children) are counted as one person and a partnership, corporation, or other organization that was not specifically formed for the purpose of purchasing the security offered in reliance upon this exemption, is counted as one person"

    http://www.dbo.ca.gov/Codes/25102f.asp

    See question 
  • How long should a company wait between incorporating (issuing founders stock) & taking in a priced equity round from investors?

    I recently incorporated and issued myself founders stock at a par value of $0.0001/share. I now have investors who want to make an equity investment of $500,000 for 25% of the company. I was told that I need to wait a period of time between from w...

    Jonathan’s Answer

    Sale of securities is highly regulated under federal and state law. It seems you could sell the stock, especially if there was not a filing or something similar that would have restricted it. However, if I was looking at a 500K investment, I would get some actual tax advice from a paid professional.

    See question