Elon’s Out

Post by amyjess » Sat, Jul 09, 2022, 10:43 PM UTC

gpm wrote: post #202

throwaway09223 wrote: post #179

Earlier quoted context omitted.

It doesn't matter if they're affected. A judgement is going to be for a dollar amount. A court will rule that Musk must pay twitter X billion dollars. Twitter can then pursue Musk, taking basically anything he owns in terms of business. They could contact the broker holding his shares and restrain them, order them sold, and collect the proceeds. They could seize and sell at auction the real property of any of his bus…

> They could seize and sell at auction the real property of any of his businesses. SpaceX rockets? Office chairs? Servers? Anything. They could not, because he does not own those businesses outright. Doing so would violate the other owners rights. They can seize his shares in SpaceX, but not SpaceX property.

Post by hnbad » Sat, Jul 09, 2022, 10:46 PM UTC

HWR_14 wrote: post #189

haliskerbas wrote: post #88

Earlier quoted context omitted.

> There’s a genuine danger that the result of this case will be “some people are too powerful to be regulated by the US system, and this is now obvious”. This should have been obvious by now. Cash rules everything around me.

> Cash rules everything around me. Serious question: Are you in the US? Any Western European country? There's a tendency for people in corrupt areas to assume the whole world works like that.

Post by mLuby » Sat, Jul 09, 2022, 10:46 PM UTC

moralestapia wrote: post #97

anonu wrote: post #54

Earlier quoted context omitted.

Musk doesn't care about that one iota. He has more money than god. And he's done that by being fairly effective as the head of two big companies.

>He has more money than god. Yeah ok ... .

Post by reverend_gonzo » Sat, Jul 09, 2022, 10:47 PM UTC

throwaway09223 wrote: post #140

alphabetting wrote: post #4

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle. The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predi…

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

Post by mrkstu » Sat, Jul 09, 2022, 10:49 PM UTC

typon wrote: post #119

moomin wrote: post #27

Earlier quoted context omitted.

This is one of those things that could genuinely cause problem for the entire US (corporate) legal system. There’s a genuine danger that the result of this case will be “some people are too powerful to be regulated by the US system, and this is now obvious”.

It's wild to me that people think that Elon might actually face legal consequences for this. The Delaware court isn't some magical place run by elves. It's a court in the US. You know what's a lot cheaper than $34 billion dollars, or heck even $1 billion dollars? $200k for 3-4 judges. The Supreme Court just changed the law of the land based on a right-wing political campaign. You think a billionare, let alone the ric…