Transglobal Assets Inc (TMSH) 0.0300 $TMSH
Judgment and
Transglobal Assets Inc (TMSH) 0.0300 $TMSH
Judgment and Settlement to Be Enforced Against TransGlobal Assets, Inc.
Marketwire Canada - Thu May 12, 3:14PM CDT
LAS VEGAS, NV--(Marketwired - May 12, 2016) - Securus Law Group of Tampa Florida is announcing legal proceedings and litigation status as to court filed matters against TransGlobal Assets, Inc. A lawsuit was brought by Frederick Conte, a former director of TimeShare Holdings, the predecessor of TransGlobal Assets, Inc. and a large individual creditor of the Corporation. The lawsuit was filed in July 2013 in the Eighth Judicial Circuit in Clark County Nevada under case number A-13-685696-C. Trial was held on July 20, 2015 in the District Court in Las Vegas, Nevada with Mr. Conte being represented at trial by lead counsel Craig A. Huffman of Securus with local counsel for litigation being Nikolas Mastrangelo, Esquire of Las Vegas. As a result of the trial the court found for Mr. Conte on two counts of breach of contract and entered judgment on both counts on November 25, 2015 in the amount of $348,544.91 plus interest due from the time of filing the lawsuit to the present time. Currently Mr. Conte has filed a motion before the Nevada Supreme Court to enforce an executed settlement entered into by the Company as set out below and other motions to protect the shareholders.
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