My guess is that both CRGP and SSM will benefit from this litigation in the long run.
'Former' CRGP CEO Clement Lockwood through his super lawyer Sagar Raich is challenging the court's granting of custodianship of the CRGP shell to Kareem Mansour and SSM. In the filing 6 weeks ago Raich moved 'to Set Aside Order for Custodian Based on Lack of Notice & Fraud on the Court'. There is a question as to the identity of both Lockwood and Mansour, but six weeks of discovery is not needed to determine who these two gentlemen are. Should probably take about six minutes. My guess is the discovery in large part is a revisit of the unique history of CRGP in order for the court to get its best understanding of what the two litigating parties are fighting over.
Why would CRGP mention 'fraud on the court' in regards to the other custodianship cases SSM has begun in Nevada? If you look at SSM's brief history, it appears they have done everything right in a measured way to this point. SSM has not been 'pumping', rather in its mere 25 twitter posts it simply reports progress with their various plays as they happen, including court orders, satisfying debts, reinstatements, settlements with transfer agents, filing financials, working with merger candidates and outstanding share reductions. SSM is doing things the right way.
It has been postulated that SSM will simply walk away from CRGP because its too much work to fight it out in court - custodianships are best done with abandoned shells as there is no one to fight against the takeover. But in this case I believe SSM won't walk away because to do so would imply that it is indeed fraudulent in its takeover of CRGP, which would weigh negatively on SSMs other plays. But why would CRGP via Raich even mention potential fraud on the other plays? I think it's because CRGP wants SSM to stay on board and eliminate the option of walking away. That allows the litigation (and discovery) to continue. The end result? CRGP will win the case (likely because CRGP was not properly notified, which can be forgiven because no one has ever met Clement Lockwood). CRGP will then hire SSM as a consultant to 'advance CRGP's potential interests including but not limited to debt and share reduction, filings, mergers, etc.'
Simply put:
1. CRGP hired a great lawyer who has been instated as the resident agent of CRGP.
2. CRGP reduced the number of authorized shares.
3. SSM has been progressing consistently through the process of custodianship on a number of Nevada shells without the 'pump and dump banter' normally associated with such plays.
4. CRGP has in essence forced SSM to litigate CRGP's custodianship, with a best option being a collaboration.
5. At some point we will learn the outcome of six weeks of discovery into CRGP.
The hearing is on Tuesday. Given CRGP's long history of drawn out litigation, I don't assume that we will get the full answer by the end of the day Tuesday. There may be another filing or two yet to come. But just the fact that Lockwood (Alias for whom, we do not yet know) has hired an expensive lawyer to fight for CRGP and put six weeks of discovery into the court record means there is something worth fighting for.
I wouldn't hire a top notch lawyer to try to win back a pile of poo. Nor would such a lawyer take on a case involving a pile of poo. But if there's money to be made......
https://issuu.com/myvegasmag.com/docs/sagar_raich_2
'Former' CRGP CEO Clement Lockwood through his super lawyer Sagar Raich is challenging the court's granting of custodianship of the CRGP shell to Kareem Mansour and SSM. In the filing 6 weeks ago Raich moved 'to Set Aside Order for Custodian Based on Lack of Notice & Fraud on the Court'. There is a question as to the identity of both Lockwood and Mansour, but six weeks of discovery is not needed to determine who these two gentlemen are. Should probably take about six minutes. My guess is the discovery in large part is a revisit of the unique history of CRGP in order for the court to get its best understanding of what the two litigating parties are fighting over.
Why would CRGP mention 'fraud on the court' in regards to the other custodianship cases SSM has begun in Nevada? If you look at SSM's brief history, it appears they have done everything right in a measured way to this point. SSM has not been 'pumping', rather in its mere 25 twitter posts it simply reports progress with their various plays as they happen, including court orders, satisfying debts, reinstatements, settlements with transfer agents, filing financials, working with merger candidates and outstanding share reductions. SSM is doing things the right way.
It has been postulated that SSM will simply walk away from CRGP because its too much work to fight it out in court - custodianships are best done with abandoned shells as there is no one to fight against the takeover. But in this case I believe SSM won't walk away because to do so would imply that it is indeed fraudulent in its takeover of CRGP, which would weigh negatively on SSMs other plays. But why would CRGP via Raich even mention potential fraud on the other plays? I think it's because CRGP wants SSM to stay on board and eliminate the option of walking away. That allows the litigation (and discovery) to continue. The end result? CRGP will win the case (likely because CRGP was not properly notified, which can be forgiven because no one has ever met Clement Lockwood). CRGP will then hire SSM as a consultant to 'advance CRGP's potential interests including but not limited to debt and share reduction, filings, mergers, etc.'
Simply put:
1. CRGP hired a great lawyer who has been instated as the resident agent of CRGP.
2. CRGP reduced the number of authorized shares.
3. SSM has been progressing consistently through the process of custodianship on a number of Nevada shells without the 'pump and dump banter' normally associated with such plays.
4. CRGP has in essence forced SSM to litigate CRGP's custodianship, with a best option being a collaboration.
5. At some point we will learn the outcome of six weeks of discovery into CRGP.
The hearing is on Tuesday. Given CRGP's long history of drawn out litigation, I don't assume that we will get the full answer by the end of the day Tuesday. There may be another filing or two yet to come. But just the fact that Lockwood (Alias for whom, we do not yet know) has hired an expensive lawyer to fight for CRGP and put six weeks of discovery into the court record means there is something worth fighting for.
I wouldn't hire a top notch lawyer to try to win back a pile of poo. Nor would such a lawyer take on a case involving a pile of poo. But if there's money to be made......
https://issuu.com/myvegasmag.com/docs/sagar_raich_2
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