I have been reading the postings concerning the Jimmy Neese/Bliss Block Loan. I find that many issues have not been addressed. I. Bliss Block is not listed as an Alabama Corporation. Jimmy Neese is listed as a partner to Jimmy Hughston in Lyons Properties and Triple J. Investments (the other J being J. Winston Williams). Just why is Bliss Block not registered in Ala? Were they looking for a state with easier liability laws? II. Rent is mentioned. Theoretically, to be perfectly legal, Neese Realty should pay rent to Bliss Block also. Did Neese think rent from two sources would pay his mortgages? Was this poor accounting or a premeditated plan? III. At the time the improvements were made to the Bliss Block building (the old Best Jewelers), Neese also owned Neese Construction. Does anyone know if his company performed the improvements to the tune of 600K? IV. Neese is listed as the principal stockholder in Bliss Block. This could mean only 51% Who are the other stockholders? Without knowing in what state the company was inc., it would be hard to look up the officers' names. Could we infer the ones previously listed? I welcome comments and ideas on how to rectify this good ol' boy miasma...
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