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Posted On: 05/23/2017 2:28:32 PM
Post# of 15187
Re: marketmover #12301
I dont have access to Pacer but I just got a response from the attorney. This wasnt the judges judgement - it was request for default judgment. Asked for $64.5K plus interest but the interest wasnt defined. If I understood correctly-that would be up to the judge to degermine fair and equitable interest on the amount owed.
If this is correct - I would say it is a win for HJOE as this is all they wanted to do in the first place - pay the loan and interest instead of having the company SS wrecked.
Further - it would put remaining note holders on notice that they are only getting loan value (remaining) plus interest and wont be getting shares. That would then behoove them to settle quickly with HJOE rather than waiting for the inevitable outcome (since precedence has been set) and the expense of getting to same outcome.
Save the vengeance for the AG and SEC to go after them.
If this is correct - I would say it is a win for HJOE as this is all they wanted to do in the first place - pay the loan and interest instead of having the company SS wrecked.
Further - it would put remaining note holders on notice that they are only getting loan value (remaining) plus interest and wont be getting shares. That would then behoove them to settle quickly with HJOE rather than waiting for the inevitable outcome (since precedence has been set) and the expense of getting to same outcome.
Save the vengeance for the AG and SEC to go after them.
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