PROGRESS IS STILL GOING FORWARD !!!

[leep0545]

not to split hairs but LLC actually stands for limited liability company,but it is a type of corporation with some differences that a standard corp as we think of them. while it is true the members of the llc are not personally liable for debts of their llc it is not uncommon for creditors to require a member or members to personally sign on the dotted line guaranteeing repayment if the LLC defaults on the agreement.

[redlite]

It sounds to me like we found an attorney on the site splitting hairs. Was Ronnie named in the suit?Forty Two Thousand Dollars in fees?How many billing Hours is that exactly?Why would it cost a farmer and a drag racer that much to set up a privately owned enterprise in area that could desparatly use the service and the tax dollars?On private property to boot!! Whats your game esquire?!! I want to race,spend money in Montgomery Co. and have fun doing the same.Again whats your game?Not drag racing apparently!!

[leep0545]

if my comments came across sounding anti-racing or anti-MAR then I did not do a very good job in my wording. to clarify I love drag racing and have since the early 1960's,second I am not an attorney but before retirement I was in the banking and lending profession for over 20 years and so I do have so first hand experience in these matters. at this time it appears the judgement was only against the llc ,to your other point I believe these attorneys fees owed were for time spent fighting the lawsuit against Montgomery County brought by the adjacent landowners in which MAR joined with the county in fighting. In closing let me say I was all in on this dragstrip,from the initial groundbreaking thru all the court room hearings I attended to the present situation. I hope this clarifies my position.

[crossbonesdennis]

I'm a racer and not a lawyer. From what I understand, the lawyer fees weren't for a "farmer and a drag racer that much to set up a privately owned enterprise". It was to fight a lawsuit brought against them. Actually, the lawsuit wasn't even against them. MAR decided to go out and hire these lawyers and get involved when they didn't have to. These lawyers didn't sue MAR out of the blue, they want paid for services rendered. I don't know what you do for a living but let's say you are a mechanic. How would you feel if somebody had you put an engine in a car for let's say $5000. They picked up the car, took it down the street, sold it, then told you "Screw you. I'm not paying you because I don't own that car anymore". It would be the same as changing the name of the LLC and still opening the same business in the same location.

[redlite]

Maybe my post rubbed some people the wrong way,it is a little harsh on the legal profession.I have been a business owner for Twenty Five years I have been on both sides of lawsuits.If MAR LLC didnt need representation then their attorneys should have advised them so. To rack up 42k in billable hours when a client didnt need my services is borderline negligence.To your point about engine builders not getting paid what if the engine caught fire and burned down your car reducing its value to scrap.Should he still be paid?It seems to me MAR LLC is on fire and the lawyers struck the match.I dont have any inside info on this matter and havent spoken to Ronnie since the swap meet.I was just thinking out loud about a possible reason for not showing up in court and the next move I might make if I was in his shoes.Ronnies dream is my dream.A safe place to race close to home.I hope he succeeds.

[hemiman4262003]

we just need to wait and hear the straight word from ronnie

[redlite]

Another option brought to my attention by my own attorney is a default judgement to end litigation and then chapter 11 which would allow MAR LLC to restructure debt and allow it to remain a viable company and continue operations.But Hemiman is right I need to shut up and wait for the man to set things strait.I clearly have no clue and am only speculating.

[midniteta]

Yeah cause everything from Ronnies mouth has been spot on? I have a hard time believing anything that, that man says has any substance behind it.

[crossbonesdennis]

Jun 28, 2013 14:55:57 GMT -5 redlite said:

Another option brought to my attention by my own attorney is a default judgement to end litigation and then chapter 11 which would allow MAR LLC to restructure debt and allow it to remain a viable company and continue operations.But Hemiman is right I need to shut up and wait for the man to set things strait.I clearly have no clue and am only speculating.

It's all speculation and opinion on our part. Your 2nd option sounds much better than the 1st. It's not good to start a business and get a reputation of not paying your bills.

[gdog]

Whats up Folks? Havent been on much have not had much to say.Many years years ago my company had a fair sized pile of legall bills from a project that went wrong and never generated any income.I was paying the bill off in payments as the company didn't have that large a chunk of money to pay without killing working capital fund .The attorneys advised that they were going to file for a default judgement so they could clear it off their books which they did. I never recieved a bill and on their advice never paid them another dime on that account and they were my law firm till I moved way out west when I retired.

[gdog]

And in reference to another thing said getting an account anywhere for anything is almost impossible without an officer of the company signing a personal guarantee.

[bigblocknotch]

something to think about.... The hearing was scheduled for 6-27-13. The judgment was entered on 6-21-13. Could that have happened without any input from MAR? I think Gdog may be on to something.

[dynodad]

midniteta, you don't see what I was talking about, not very clear with my comment. I had to use a Lawyer after I gave an Easement and it is amazing that it takes them 3 hours to construct a two line letter and I get a bill for the 3 hours. It was that same thing over and over again and the bills ended up at $19,000 before it was all over. The Lawyers almost all have a Blank check when you sign a contract with them to pay the hourly charges. You can not stop using him after you get to a certain point or you would have to pay for another Lawyer to learn all about your case. They know this and take advantage of it. It was Pathetic the bills that I got and what they did for what they charged. $186.75/hr was the Discounted rate. And of course they strung it out to 2 years to get it settled.

[megamerc]

Hello! We know everyone wants an update on the track so we thought we would hold a meeting to inform everyone on what the status is. It's been a long road, but we are still moving forward.

There are several reasons for holding this meeting. The first is because we want to keep our supporters informed and trying to relay a message over the internet is sometimes difficult. The second is we want you all to get information straight from us and not from rumors. The third is to discuss a possible way for you all to get involved.
The meeting will be held at the American Legion post 323 on Sunday, July 14th. We will be there from 2pm til 5pm with Ronnie starting the meeting at 2:30. The address is 504 Luetkenhaus Blvd, Wentville, Mo. 63385 or also called old Hwy 61. We're looking forward to seeing you all! Have a great 4th of July and everyone stay safe. Ronnie Moss

[bjandboss]

The third is to discuss a possible way for you all to get involved.


Read more: marpark.proboards.com/index.cgi?board=bullshit&action=display&thread=192&page=91#ixzz2Xr4q4f5R

Sounds like they are looking for money or like the clown up in Keokuk to buy "stock" in the place. That guy is looking for all of the that liked his track page on Facebook to "INVEST" $100 in a share of stock in the project. Sounds to me as neither one of these projects has the funds to get them off the ground.