Amiga: We are good for the money by By Steve Hunter City of Kent officials have asked Amiga to let them know as soon as possible that the company has the money to pay for the naming rights for the new events center.
A three-member corporate board, which includes two of those investors, needs to sign off on any payments more than $1 million, McEwen said. Two of those members have approved the payment to the City of Kent but the third member is traveling outside of the United States and wasn’t expected to be reached until the end of the week.
It seems Bill may not have gotten full approval to make th deal for the $2.5 million intial payment.
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Meanwhile, Amiga shut down its Washington operation in 2004 and came back as a new company registered n Delaware. McEwen said with that separation the new company is not obligated to pay past debts. He said the old company does not have any money to pay debts.
Again at least in practical terms it sounds to me like Amiga Washington was insolvent.
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