Inspiration Landing LLC Administrative Revocation in Tennessee

First we wish to thank a reader for sending us this. While it might take an attorney practicing in corporate law to understand all the nuances of the situation, it should still be very interesting to those keeping track of John Elkington's Inspiration Landing project.

1. In late 2015, John Elkington filed for an LLC under the name Inspiration Landing in both Alabama and Tennessee.

2. The Alabama LLC remains extant, while the Tennessee company does not.

3. The Tennessee LLC was "administratively removed" after one year in late 2016.

Are any of these facts important to those who support Elkington's Inspiration Landing project? It would seem it's very common to incorporate in all states in which one seeks to do business, so Elkington also incorporating in his home state of Tennessee seems prudent.

Now we come to the "administratively removed." We had no idea what that phrase actually meant and assumed Elkington asked for the LLC to be disbanded. No, we couldn't have been more wrong in our educated guess. It means that the State of Tennessee cancelled the LLC after one year. Another educated guess is that, since it was active for a period of 12 months, it was cancelled when Elkington didn't seek renewal or pay renewal fees.

Why wouldn't John Elkington wish to do business in his home state of Tennessee? We seem to have more questions than answers, but one possible rationale is that the Memphis property guru isn't seeking investors from Tennessee...where they know him best.

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A minor update on our bank sale blog. Several readers thought we might have been referring to the sale of First Southern a few months ago. No, this is a rumored sale that has not come to fruition. The interesting thing is that of those who commented on the correct bank all mentioned the continued downsizing in staff, offices, and customer service.

Customer service? How hard is it to be polite to someone who's throwing their money at you?