: George Richards
Viner now the sole owner
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07-23-2010, 06:34 PM
Join Date: Apr 2008
Location: fort lauderdale
Originally Posted by
I believe that SSE is an Limited Liability Corporation. If Viner has been named General Partner of the LLC instead of a Limited Partner, that means he is the executive who makes the decisions. Being the GP also means you have greater liability (i.e. for debts and judgements) because you are the one in control. Being a LP (i.e. Cohen) shields you from this.
This move doesn't necessarily imply any change in ownership share. A GP can own 1% of a company and a LP can own 51% of a company. I'm not sure what this move means, but I remain somewhat suspicious of the current ownership arrangement.
Right you are. We also do not know the terms of the underlying partnership agreement. I strongly suspect that Cohen remains the majority owner of the team and that he still desires to sell it.
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