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I have worked for a real-estate company for 4 years and
Hi, I have worked for a real-estate company for 4 years and accrued a value of $10,0098.86 through our ESOP plan. My vested account value is $6,005.97. With the understanding early withdrawal could le… read more
LegalGems
LegalGems
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I received a letter from a former employer stating that by
I received a letter from a former employer stating that by 9/30/2018 I should receive a statement of valuation of my ESOP (employee stock ownership plan) . I waited until 10/3/2018 ,contacted the ESOP… read more
DamienJD
DamienJD
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My employer is also an ESOP. my right to vote has been
my employer is also an ESOP. my right to vote has been denied by non transparency. what can or should I do to enforce my right to vote and have transparency ? the company in question is the Gledhill R… read more
Michael Bradley
Michael Bradley
retired
Doctoral Degree
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I am an officer in a 100% ESOP company. An officer in our company
I am an officer in a 100% ESOP company. An officer in our company borrowed money from the ESOP in 2008 and has never paid the loan back. Is this legal if the officer is the CEO of a 100% esop.… read more
Isaac, Esq.
Isaac, Esq.
Attorney at Law
Doctoral Degree
42,943 satisfied customers
Here is an example. Please review and see if this example is
Here is an example. Please review and see if this example Here is an example. Please review and see if this example is correct. The company loans $10,000 to the ESOP at 3% interest. The ESOP purchases… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
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Upon retirement at 62 can an individual that works in a C corporation,
Upon retirement at 62 can an individual that works in a C corporation, pay the taxes on the cost basis of accumulated shares of stock in their ESOP account and transfer those stock shares out of their… read more
Andrea, Esq.
Andrea, Esq.
Attorney
Post-Doctoral Degree
10,512 satisfied customers
I HAVE BEEN EMPLOYEED FOR AN INDUSTRIAL COMPANY IN VA. FOR
I HAVE BEEN EMPLOYEED FOR AN INDUSTRIAL COMPANY IN VA. FOR 29 YEARS. I WAS GIVEN A TITLE OF VICE PRESIDENT OVER 10 YEARS AGO BUT THEY HAVE KEPT ME ON 100% COMMISSION. ALL OF THE EMPLOYEES THAT ARE UND… read more
Nate
Nate
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4,408 satisfied customers
My wife participates in an ESOP that terminates this year because
My wife participates in an ESOP that terminates this year because her company was bought out. The value of the esop dropped more than 50% over the last year - supposedly due to bad investments. Do we … read more
socrateaser
socrateaser
36,647 satisfied customers
If a compnay has an ESOP and has a line of credit with a bank.
If a compnay has an ESOP and has a line of credit with a bank. Can the executives of that compnay borrow money from the companies line of credit to invest in a sepearte venture that only benefits the … read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
25,231 satisfied customers
Hello, I have a question regarding ESOP dispursment from a
Hello, I have a question regarding ESOP dispursment from a company that has been sold, I've already received the first payment last year. The second payment is due in July. The new company is consolid… read more
Sam
Sam
Attorney
Doctoral Degree
10,701 satisfied customers
I worked for a company and I have money in my ESOP and I was
I worked for a company and I have money in my ESOP and I was told it could not me cashed out to put into another plant.… read more
Tina
Tina
Attorney and Counselor at Law, Mediator
Doctoral Degree
31,168 satisfied customers
I own a closely held S Corp (which converted from a C Corp
I own a closely held S Corp (which converted from a C Corp 8 years ago). I am the president and my wife the vice president. An existing business like mine (pharmacy) which is an ESOP wants to buy my b… read more
PlotinusLaw
PlotinusLaw
Attorney at Law
Juris Doctor
731 satisfied customers
I began employment in a position that typically requires noncompete
I began employment in a position that typically requires noncompete agreements. I work in a branch in another state but the agreement says based on the laws of KY where the home office is. However, at… read more
legaleagle
legaleagle
Attorney
Doctoral Degree
7,048 satisfied customers
Just got fired from a Company (in Ohio) I was a Vice President
Just got fired from a Company (in Ohio) I was a Vice President @ $90,000 annual. 9 years with the Company (which is an ESOP) Fired for "no cause". They just want to eliminate the Salary. I received 90… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
25,231 satisfied customers
I am trying to close on a Multi-million dollar acquisition
I am trying to close on a Multi-million dollar acquisition and we have a question regarding their ESOP. The question is if 17% of the shares have been vested in the ESOP and there are some shares "all… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,918 satisfied customers
I am currently employed as a higher ranking executive at a
I am currently employed as a higher ranking executive at a construction company that is 100% ESOP. I have access to privelaged information that indicates there was no accountability by the trustee or … read more
JB Umphrey
JB Umphrey
Attorney & Counselor
Juris Doctor
16,283 satisfied customers
my husband had an esop with his company. it was stated that
my husband had an esop with his company. it was stated that employees would receive there money from the esop a year after the end of the current fiscal year. he worked there for 35 years. he was laid… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
46,816 satisfied customers
I was discharged from my company after 12 years last ...
I was discharged from my company after 12 years last november and i can not get any information about my esop from them. They keep telling me that they do not have any numbers on the esop yet? Is ther… read more
Lawrence N. Rogak, Insurance Atty
Lawrence N. Rogak, Insurance Atty
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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).

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