Great response in timing and if you work with me a little more I will add a bonus too. Q: Her income is quite modest actually. Only 52,000.00 per year as an office admin. She actually took a cut in pay during harder times to help the company through the economic mess of 06-09 and a VC who went broke during that time. As an incentive to be a team player they granted her these stock options 88,000 shares which are vested but must have that liquidity event to become worth something and that is not assured at least yet. I also hold 126,000 shares (I am a cpa who raised over 7million for this company and am facing very similar (although much larger issues than her) and would do anything to keep my stock. My house too is under water and my only assets left are that stock and some Iraqi dinars which I am fairly confident are going to appreciate 20x very soon. In the case of the docketed judgements-can she still make a deal with amex or are they exempt from bankruptcy since they are already judgements??
The options she has are not part of a sponsored erisa plan i dont think but will find out. The item about the trustee not being able to hold them is quite interesting however.
Socrates-I am absolutely going to give you a bonus-BUT I have never been able to print out these page any way I try and I need to have my client read your comments. If you can help me print-great-if not I will confirm tomorrow and settle at once. Thanks again for your incredibly fast and timely help
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).