3 ms·
BrisConnections was developing a toll road, but the actual tollroad development assets were held in the trust for tax reasons. If the trust were to be dissolve
by jakarta 17y ago
BrisConnections was developing a toll road, but the actual tollroad development assets were held in the trust for tax reasons.
If the trust were to be dissolved as the development was in process, it would have killed the project. That's why his particular stake had so much value because it would help stave off the dissolution.
Investors would owe the 2 upcoming installments. So he was going to owe $48M and another $48M for the next two installments. That's one of the incentives they too would have had for dissolving the project since the ones who picked up shares at $0.001 would also owe that money.
- boredguy8 17y agoMuch thanks, that really clarifies the situation, but it also inspires further questions. So people purchasing shares were theoretically providing the investment funds to complete the toll road, and as a result of that risk, would have access to the profits of the toll road in proportion to their investment, correct? So BrisConnections doesn't want to see the fund dissolved because it loses all the capital represented by the $.001 investors by virtue of still owing $2, and Thiess John Holland wanted to maintain the entity that owed them a contract for building part of the road?