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Thread: 50 / 50 ??

  1. #1
    FORT Regular Hunnyoil's Avatar
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    50 / 50 ??

    How can they each own 50% of The Restaurant?

    Don't ya think that maybe Jeffery owns a little bit more??????

    I think that Rocco is in hot pasta water with this thing.

  2. #2
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    Quote Originally Posted by Hunnyoil
    How can they each own 50% of The Restaurant?

    Don't ya think that maybe Jeffery owns a little bit more??????

    I think that Rocco is in hot pasta water with this thing.
    Well officially, there's no way to know who owns what since there was never a formal agreement signed. But a 50/50 ownership of a restaurant such as this is pretty standard, so there's no good reason to believe that wasn't the verbal agreement this time.

  3. #3
    The race is back! John's Avatar
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    That's a mighty big stretch of theory to suggest there wasn't a formal agreement signed. I'm absolutely positive that formal agreements were signed, lawyers involved, and all the other such nonsense that occurs when there is $4 million at stake in a restaurant opening.

    I'm sure, like every partnership agreement I've ever read, it spells out clearly what the ownership percentage is, and what the responsibilities of each partner are.

  4. #4
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    Quote Originally Posted by John
    That's a mighty big stretch of theory to suggest there wasn't a formal agreement signed. I'm absolutely positive that formal agreements were signed, lawyers involved, and all the other such nonsense that occurs when there is $4 million at stake in a restaurant opening.

    I'm sure, like every partnership agreement I've ever read, it spells out clearly what the ownership percentage is, and what the responsibilities of each partner are.
    Then are you also absolutely positive that Rocco will be found guilty of perjury and filing false documents? His complaint against Chodorow is on Smoking Gun, and it states that a formal agreement was never signed. Do your homework John.

  5. #5
    Queeny queeny's Avatar
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    Quote Originally Posted by daysee8
    Well officially, there's no way to know who owns what since there was never a formal agreement signed. But a 50/50 ownership of a restaurant such as this is pretty standard, so there's no good reason to believe that wasn't the verbal agreement this time.
    How do we know that there was only a verbal agreement. JC would have never done that. He is a business man not a used car sales man.(no offence to sales men, I more reffereing to a gentleman's hand shake is his binding word)
    Does this mean Rocco shares in the 4 million investment and the 600,000.00 debt is 50 /50 too, or is that JC problem?????

  6. #6
    Queeny queeny's Avatar
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    Quote Originally Posted by daysee8
    Then are you also absolutely positive that Rocco will be found guilty of perjury and filing false documents? His complaint against Chodorow is on Smoking Gun, and it states that a formal agreement was never signed. Do your homework John.
    Hey Whoa, easy, play nice Daysee8.
    Is smoking Gun a US show, because I have never heard of it( I'm a cunuck) Tell me what are the documents that he filed?I'm not that famillar about the case.

  7. #7
    The race is back! John's Avatar
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    I stand corrected (and duly chastized).

    Although they did not sign a written agreement, there WAS a written agreement which both parties worked on, and created several drafts of. Both parties operateed under the terms of this written agreement, although it was not executed by either party.

    Now, the heart of the disagreement is also that Chodorow claims that since the agreement was never executed, that there never was an agreement and they own the restaurant. Rocco believes that since they operated under the agreement's terms, that the agreement was, by action, executed.

    Therein lies the rub.

  8. #8
    MelCho
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    Quote Originally Posted by queeny
    Hey Whoa, easy, play nice Daysee8.
    Is smoking Gun a US show, because I have never heard of it( I'm a cunuck) Tell me what are the documents that he filed?I'm not that famillar about the case.
    The Smoking Gun is a website - look it up on Yahoo and then go to "Archives"

  9. #9
    Queeny queeny's Avatar
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    Thank You MelCho, I'll be back in a few minutes.

  10. #10
    The race is back! John's Avatar
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    www.thesmokinggun.com is a website that obtains and publishes court documents. They're owned by CourtTV. Search the archives for Rocco, and you'll find the original lawsuit.

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