The defendants assert the debt and capital contributions the defendants had in Jurassic at that time totaled $5,568,000, leaving Jurassic with a negative value. 1. The Court will use the report and appraisals, after considering any objections of the parties, to find the fair market values of any relevant properties to which the parties have not previously agreed to a method of valuation, distribution or liquidation. It states, in part: Michael Schmitz, a certified public accountant called as a witness by the defendants, testified that loss to Mr. Jundt [would] be a passive loss, which is suspended until he can use it, and there is [n]o limitation on a carry-over. He testified on cross-examination that Jundt was entitled to tax write-offs: Q.Mr. Schmitz, if Mr. Jundt was entitled to his membership interest on February 1, 1999, wasn't he entitled to receive the portion of the tax write-off's attributable to that interest after that date? Shallow gas leases were acquired and developed into production in Montana through the efforts of the plaintiff and capital and loans contributed by the corporate defendants, as well as the efforts of the defendant Loren R. Kopseng. It was almost possible to imagine the land as it appeared to Lewis and Clark when the Corps of Discovery came up the Missouri in 1804 but only if you looked past the toy-size trucks crawling west on Interstate 94 with drill pipe and water tanks; and the locomotives lumbering east with hundred-unit trains of black oil-tanker cars in tow. As the Husky droned west, the land began to change, growing drier, farms giving way to ranches. Apostles of Bakken gold insist that whats different this time is that this time is different, the history of frontier avarice notwithstanding. Well after well, 6,000 or more. We simply want to ensure the most efficient and environmentally sound method of utilizing our precious coal and water resources for the benefit of the broadest number of people possible. Leigh Price, a United States Geological Survey geochemist, was initially greeted with skepticism when, about 13 years ago, he came to the conclusion that the Bakken might hold as much as 503 billion barrels of oil. Doug Burgum says, Fargo finance chief has history of yelling, creating toxic work environment, records show, Funding for North Dakota tourism projects slashed after rebuke of buffalo theme park. Ryan V Kopseng, 46. But with Russell handling the financial end, Kopseng began accumulating distressed oil and gas wells. Phone number, address, and email on Spokeo, the leading people search directory for contact information and public records. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. None of the grounds specified in N.D.C.C. The trial court's judgment dismissed Jundt's claims against Kopseng and ordered the corporate defendants to cancel Jundt's membership units in Jurassic and pay him $300,000. But you just got so much influx from Texas, Louisiana, Pennsylvania, California, and people are just rude and inconsiderate. Thats the line of death, Kopseng said. [10]Jurassic, Missouri River, Rainbow Gas, and Rainbow Energy contend the district court abused its discretion in awarding Jundt $300,000 as an equitable remedy. Jundt, the only individual or entity claiming diversion of a Jurassic corporate opportunity, owns fewer than one-third of the membership interest units in Jurassic. [28]The judgment is reversed to the extent it ordered cancellation of Jundt's membership interest units in Jurassic, ordered payment of $300,000 to Jundt, and denied Jundt's claim to tax write-offs. They raised our rent from like $900 a month to, well she wanted $1,500 deposit and $2,500 a month. The majority owners impliedly disclosed to themselves and to Jurassic all of the relevant facts about Jurassic's asserted corporate opportunity to purchase WBI properties and elected to forego the opportunity. But its also geology, chemistry, business. It may also be that the lack of dissent reflects the way North Dakotans idealize themselves as more inclined to endure than to complain, certain it takes a special temperament to live in such forbidding country, where winters are brutal and culture is thin. Section 10-32-86(1), N.D.C.C., requires a governor of a limited liability company to discharge his or her duties in good faith. A court may grant any equitable relief it considers just and reasonable in the circumstances or may dissolve, wind up, and terminate a limited liability company: a. Laura Louise Kopseng-Klein, 85, 1015 N. Third St., Bismarck, died Nov. 20, 2001, at Medcenter One Health Care Center, Bismarck, from complications of Parkinson's disease. Later, they and others formed a number of other companies, including Rainbow Gas, Water trucks in the parking lot wore petticoats of mud. Rodeo winds were bucking the Husky all over the sky, but nothing could dampen his enthusiasm for the sights of the basin nothing save my stomach. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry Get the latest business insights from Dun & Bradstreet. Burgum's administration in March announced that Great River moved into exclusive negotiations with a prospective new owner for the plant. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: KOPSENG, LOREN R BISMARCK, ND 58503: UNITED Petroleum geologists have known the cookie was full of light, sulfur-free oil since 1953, but they didnt know exactly how much or how to extract it economically. . [4]Jurassic's initial operating agreement executed on January 26, 1998, named the following individuals to Jurassic's Board of Governors: Jundt; Donald Russell, President of Missouri River; Loren Kopseng, President of Rainbow Gas; and Stacy Tschider, President of Rainbow Energy. The collapse of North Dakotas last oil boom, 30 years ago, left unfinished developments and deserted homes in its wake. Landowners have land rights but dont always have rights to whats underneath it, the minerals. d.In an action by the attorney general to dissolve the limited liability company in accordance with section 10-32-122 when it is established that a decree of termination is appropriate. We brought in a plant to split and polish peas. . The best result we found for your search is Dawn M Kopseng age 50s in Mandan, ND. In 2012 the company earned a net profit of $44.8 million on revenues of $5.7 billion. Under any of the theories, Jundt has failed to meet his burden. We may head closer to Bismarck, you know. Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity Koeser, a 63-year-old former math teacher whose grandfather came to North Dakota to farm in 1901, started a communications company that sold field radios during the oil boom of the early 80s. He was elected to the Board of Commissioners in 1994 and returned to office five times. Matt Kingsley, 23, center, and his friend Dan Bashore, 22, right, are from Grand Ledge, Mich. At the time, North Dakota was ranked ninth among U.S. oil-producing states. What challenges? Financial inability justifies a corporation in rejecting an opportunity. He just didn't confirm it. They just said, We need young bucks.. Three experts weigh in on what that means. 861.10 (2002 Rev. Kopseng is a conservative Republican, and like many North Dakotans, he includes government regulation in the same category of pleasant experiences as droughts, floods, grasshoppers and prairie fires. By 1997, Russell and Kopseng consolidated several energy businesses into United Energy. Sander Kopsengis linked to this address. Last February he wrote in The Bismarck Tribune that the states politicians were not hearing what everyday people out here are saying that is, stop the oil madness wreaking havoc with the land, wildlife and Western heritage weve long cherished. Not long before, the Crosby Journal editor Cecile Krimm called the region an economic disaster area, citing swamped sewage systems, crumbling roads, dizzy rents and labor shortages as reasons that officials ought to be trying to brake a runaway train. I talked to one of these gals, says Alec Soth, the photographer, and she said: Look, Im not good looking, but I can walk into this place, I can point at any one of these guys and take him home. Many were production wells weathered pump jacks pulling up oil (or natural gas and natural-gas liquids) from holes drilled over the years. Loren Kopseng is a resident of ND. In a way, of course, this kind of frontier is as much a state of mind as an actual place, a melancholy mood you cant shake as you drive all day in a raw spring rain with nothing but fence posts and featureless cattle range for company thinking, Is this all there is? They were visiting Dans father in Williston on their way to Big Sky, Mont., where Matt works at a ski resort. He went broke twice, maxed out his credit cards and even borrowed money from his mother loans that came with sharp remarks about his clothes and hair. "Kopseng first came down with oil fever in the late 1970s, when fortunes were being made domestically in the wake of the OPEC oil embargo. The trial court awarded Jundt $300,000 for his membership units in Jurassic. In 1984, at a particularly low ebb, he met Don Russell, a merchant from Mandan, whod done well in the not-obviously-related businesses of peddling tires and packing meat. Related To Stephanie Kopseng. I had a lot of lemonade wells, he sighed. The downtown area was struggling for 25 years. Principal. The plaintiff's claims against the defendant Loren R. Kopseng are DISMISSED WITH PREJUDICE. Valuable research and technology reports. But oil development, and fracking in particular, raises little of the hue and cry it does in Eastern states sitting above the natural gas in the Marcellus shale. Dancers at a performance of Snow White in Williston, N.D. We just learned that we have to move out of our dance studio, saidMelissa Lucy, 43, a co-owner of Dance Fever Performing Arts Studio. It was locally owned, and the man sold the building for an enormous amount of money to somebody from out of state. Even though youre with your man, youre holding his hand or whatever, theyll still stare. Zachary (center): Shes a beautiful girl, so Ive always got that, like all the guys constantly hitting on her. That would cause considerable tax problems for all of the partners here. The trial court found the parties no longer have a business relationship that will allow them to work together and concluded [l]iquidation and partition are not appropriate equitable remedies in this case. The court concluded cancellation of Jundt's membership interest units in exchange for payment of $300,000 by the corporate defendants was the appropriate equitable remedy. And then suddenly there were oil wells. Russell, who died in 2011, also wanted to get into oil and gas. Every 1 percent increase in the rate of recovery means another billion barrels.. And when we are through with that and the landscape is quiet again, when the draglines, the blasting rigs, the power shovels and the huge gondolas cease to rip and roar. It reverses decades of anxiety about out-migration and rural decline and death. FindLaw.com Free, trusted legal information for consumers and legal professionals, SuperLawyers.com Directory of U.S. attorneys with the exclusive Super Lawyers rating, Abogado.com The #1 Spanish-language legal website for consumers, LawInfo.com Nationwide attorney directory and legal consumer resources. Contact & Personal Details. For many years North Dakota has been a frontier not the classic 19th-century kind based on American avarice and the lure of opportunity in unsettled lands, but the kind that comes afterward, when a place has been stripped bare or just forgotten because it was a hard garden that no one wanted too much to begin with, and now it has reverted to the wilderness that widens around dying towns. WebTop Result for Ryan Kopseng in Bismarck, ND 1 The best result we found for your search is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. hasnt drilled a well of its own since 1998, but today it holds a nonoperating interest in close to 2,000 oil and gas wells. Questions Post Question There are no questions yet for this company. Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. Jundt has failed to carry his burden of proof as what he has offered is far too speculative. Kopseng 65, a deer hunter, a Bud Light drinker, a profane churchgoer with four kids and two ex-wives refers to himself as a 'petro-preneur.'". AVERAGE AGE. We kind of liken it to being in the military, you know. The law has long recognized the doctrine of corporate opportunity which prohibits one who occupies a fiduciary relationship to a corporation from acquiring, in opposition to the corporation, property in which the corporation has an interest or tangible expectancy or which is essential to its existence. 3 Fletcher Cyc.
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