Claude,
"C. Cormier - Ormetal Inc." wrote:
> > It most certainly does matter. If the major shareholders, officers,
> > employees or assets of a GBC are in the US (or otherwise subject to
> > the control of the US government) then they may be threatened or held
> > hostage by the US government.
>
> As long as the corporate identity of the issuer is non US and its
> assets are out of the US... I don't think there is a problem. They
> are different persons by law and the corporation is out of US
> jurisdiction.
You are presuming that the US government will obey some sort of rules
that seem reasonable to you. It does not play that way. It does
whatever it pleases and makes its own rules. [That is, after all, the
nature of governments. :{]
1) If the corporation is closely held (any US shareholder having more
than 10% of the stock; a so called "Controled Foreign Corporation") it
will not even acknowledge that the corporation exists. By US law they
are NOT different persons.
2) Futhermore, if, as I said, "the major shareholders, officers,
employees or assets of a GBC are in the US (or otherwise subject to
the control of the US government) then they may be threatened or held
hostage by the US government". Then it does not matter even if the
corporation is legally a different person. The US government can, by
threats and hostages, bring sufficient pressure on those who control
the corporation so as to give the government effective control over
it whereever it is formally domiciled. The government does this
frequently.
Best,
CCS
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