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ICJHF President Letter April 2017

April 21, 2017

Dear fellow franchisees,

I hope everyone had a strong finish to the tax season and that your results were more favourable than LY.

We are continuing the law suit against JHI to obtain accurate excess financial product revenue calculations according to our franchise agreement (the NFA dated before 2014) and those territories governed by it.

We are at a very critical time in this law suit. Our attorneys continue to be very optimistic about our success regarding the standing issue. Once that issue is decided in our favour, not only will the wind be somewhat at our sails, that will also lead to the meat of and the most expensive part of the lawsuit which includes depositions and the related hearings. We expect to need $250k to get us to the fall.  

We initially raised $125k and paid $75k to Eric’s firm as the starting retainer. Also while the lawsuit is ongoing we must replenish the retainer when the balance reaches $30K and within a few weeks, we will need to replenish the retainer. If our need is $250k and we currently have $50K from the first fund raiser, the ICJHF needs to raise $200K for the legal claim to get us to the fall. The Steering Committee recommends each franchisee contribute .50 per return based on your 2017 January-April GVR statement. We need the Zee community to come together and support this effort.  THIS IS OUR BEST OPPORTUNITY TO RESET THE RELATIONSHIP WITH JHI AND STATE THAT WE WILL NOT TOLERATE BULLY TACTICS AND JHI NOT RESPECTING OUR FRANCHISE AGREEMENT!! If we are successful with this action, when we say NO in the future those words will carry the weight that we can back the NO up. PLEASE CONTINUE TO SUPPORT THIS EFFORT. IF YOU CANNOT CONTRIBUTE THE .50 PER RETURN PLEASE GIVE WHAT YOU CAN! 100% OF YOUR CONTRIBUTIONS GO TO THE ATTORNEYS.

Be sure to send your contributions as soon as possible but at the latest by Friday, May 5, 2017. You can send a check to ICJHF, PO Box 1021, Schererville, IN 46375. Or, you can call or email your credit card information to our ICJHF admin, Zoe Ann Seymour. The email address is admin@icjhf.com and the phone number is 866-763-1010. She will keep a record of the contributions.

To inform you, if the case is mediated, we will be able to take any benefits and first repay legal donations at a rate of 150% of your contribution. There is no limit to how much a zee can donate and the .50 per return is recommended, not mandatory, so contributions can be less as well.

Keep in mind that if this claim goes to court and we lose, no legal fees will be reimbursed, and we may actually owe the defendant legal fees. Or, if the case goes to court and we win, the judge will most likely award us our legal fees which may be discounted by as much as 40% of the total cost. In that case, this will be the only legal fee reimbursement before the award is paid out to all franchisees as the judge dictates.

If there are any questions you may contact your board representative or any member of our steering committee, which is comprised of Charlie West, Carl Wing and George Alberici.

Sincerely,

Kim Bledsoe, President ICJHF


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    PO Box 1021  |  Schererville, IN 46375  |  866-763-1010