- 7 - Mr. Carter to consult and not to compete with AST; (2) MSSTA would make liquidating distributions to the Scotts and Mr. Carter, based on their respective stock ownership of MSSTA, of the $600,000 that it would receive directly from AST; and (3) the Scotts would use money that they would receive from MSSTA in such liquidating distributions to assist them in purchasing stock in AST. Mr. Harrison and/or Mr. Hall directed AST's attorney, Gary LaPlante (Mr. LaPlante), to prepare preliminary drafts of the various documents that would be needed to implement the tentative agreements that had been reached regarding, inter alia, MSSTA's sale of its assets to AST, the Scotts' respective purchases of stock of AST, and consulting agreements between AST and Mr. Scott and Mr. Carter, respectively. (We shall sometimes refer to MSSTA's sale of its assets to AST and all of the transactions that occurred simultaneously with that sale as the MSSTA transaction.) Mr. Scott retained Arthur Bosworth (Mr. Bosworth), an at- torney, to represent MSSTA and the Scotts in the MSSTA trans- action. Mr. Bosworth had previously represented them with respect to various litigation matters. Mr. Bosworth initially declined to represent MSSTA and the Scotts in the MSSTA trans- action because he was not competent to give tax advice. However, Mr. Bosworth agreed to represent them after Mr. Scott told himPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011