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That’s because lawyers are smart enough to know that any judgement in their favor is a “win”. It’s not needed to be codified.
LOL. A Default Judgement in your favor is a win.
“The default judgment means that the party who complied with the terms of the lawsuit, including appearing at court as scheduled, wins the case.” - wiki legal
Call or email E-Trade I doubt there are any representatives from ETrade on this board.
If you get an email back post the link for us.
I’m sure it will be their standard form letter going on about volatility and investor protections. Same one they send out for NYSE and NASDAQ stocks that are restricted by their trading desk.
Pretty sure that’s incorrect. They show 44m as of 3/31/2020 but the PR for the returned shares is for 4-2-2020. If you look at the sec SC 13g filling of 4-20-2020 it shows 2.8m shares as 9% which would be closer to the reported total of 24m from the 4-2-2020 PR. Not the 44m reported on OTC.
Claims without supporting documents are meaningless to me.
Post us a link to a US court Default Judgement ruling that has not been immediately Recognized by the Superior Court of Brazil.
Claims that this is possible should be accompanied by a link to support it. An actual case please.
Tia
US court would tell them the same thing that a Brazilian court would.
Why didn’t you raise this issue at trial and during discovery?
This hearing is to establish the validity of the verdict, no issues other than the competency of the ruling court will be decided. The trial is over.
Recognition is granted.
No Default Judgement ruling by a US court has been denied Recognition from the Superior court of Brazil since the amended Civil Code was adopted in 2016.
If I missed one you are welcome to post the link here and we can examine it for relevance to this case.
If you can’t find one, then let’s agree the ruling will be Recognized in due course and we can discuss the length of time it will take for recognition.
My research shows 30-86 days for the few cases of Default Judgement that are recorded for public view.
If you have a link to one I missed that shows a longer duration from filing to adjudication then please post so we can also examine that one for relevance to this case.
Lawyers have opinions. That’s why they are lawyers and not judges.
I have no more disdain for lawyers than you do for judges, constitutions and laws.
Merits are not a factor for the Brazilian courts. Only the conduct of the rendering foreign court is reviewed.
This has zero relevance to my post.
Which has zero relevance to my post. Again.
Read the Brazilian constitution and civil code.
Lawyers opinions are not relevant. That’s why they are lawyers and not judges.
The information I have shared is the written law. Not some lawyers interpretation/ opinion.
I said the stickied information includes time frames which include divorce, child custody and support.
Everyone should read the material linked in the stickies. Divorce, child custody and support are predominantly mentioned in every one of them. Very little attention to corporate litigations.
I never said anything about any posters saying anything about divorce.
The stickied information does. As I have stated many times.
Someones opinion of the text of the law does not change it. I have posted the relevant constitutional, civil rules and laws as written and transcribed to English from Portuguese or Spanish.
Peoples misunderstanding of the legal system has its moments of levity.
The Brazilian court has no say in the merits of the case. As a matter of Brazilian law, merits are not even in consideration. The only issue by which Recognition is granted or denied is the conduct of the foreign court rendering the judgement, nothing else.
I never “define” any of it. I posted the exact text of the Brazilian constitution, civil code and laws along with several posts on how foreign judgements OTHER THAN Divorces and child custody cases are handled.
Every link PB provided in the Stickies above reference timelines that include the Divorce and child custody rulings from foreign courts.
My posts only deal with Recognition of corporate civil actions. Service was already conducted during the original process. No other service is required under Brazilian law.
When it happens you can send the check to your local YMCA Strong Kids Campaign.
And the next one will include a $200m+ Judgement to add to their balance sheet and still don’t need an office in Florida.
With interstate business, lots of states require a resident agent and physical address not a building. Most of the time the agent is not a paid employee.
You will need to ask the poster I responded to these questions. Not my folly.
My guess he wants
Item 1 ) back taxes $100m
Item 2) penalty on back taxes $200m
Item 3) sale of property $50m
Etc etc
He does not need the narrative, depositions or any other arguments. He has already ruled in their favor so the arguments are not needed. He is ready to dispose of this case and BSF gave him another book to read that is the same as the original book.
My guess is BSF did this to summarize the case and probably more for their filing with the courts in Brazil should the Bro’s not accept the settlement. Unfortunately. It appears to have irked Judge Middlebrooks.
All that being said. The itemization should take a day. Be filed Monday and the way the judge worded this order makes me believe that had the itemization summary been included he would have ruled today.
IMHO. Look for BSFs filing Monday and a ruling by Judge Middlebrooks by the end of the week.
Middlebrooks is clearly tired of this case and wants it off his docket.
Have a great weekend.
The judge is asking for a specific document that itemizes each item and its Monetary relevance to the ruling. While they have supplied this information in their filings they did not provide an “itemized” list
It’s like when you call to get your car repaired And the repair man tells you all the reasons it needs repaired. In the end you want an itemized repair bill each item listed and it cost. That’s what the judge wants. Not the narrative as to why you want it.
Hope this helps.
Hilarious that some people think an offset is a cash award. ROTFLMFAO
It’s called a court filing not a promotion.
I have more to support the claim that it’s true than you do to claim it false.
Negotiations do not stop because a party walks away from the court battle. Quite the opposite in fact.
Why continue to pay for a litigation that you will lose.
Since 2015 99.9 % of default judgements submitted to the Brazilian court for Recognition have been upheld recognized and enforced.
It would be fools folly to think the Brothers would take a .1% chance of winning in the recognition process in Brazil over a lucrative settlement with GDSI. No matter how long the process is. 90 days or 10 years. The outcome is the same.
It’s over 30 pages of depositions, filings and attachments. There is no way to post everything. BSF covered all the bases. I’ll try to put something together with some highlights. It will take some time to read through everything. In a nut shell.
******************
$298m usd in incidental damages asking that all monetary obligations for the transaction(SPA) be offset and that future “earn out” payments be offset until such time as the full amount of the judgement is fulfilled.
*******************
There it is.
I appreciate the Mod that stickied my post on Recognition. Obviously with a settlement it’s a moot point, feel free to remove that information if ya have something come up that’s important.
Settlement means there is NO “recognition process” to consider.
Have a great day.
Well well well,
Turns out that the Bolzan’s fired their “council” to end their financial exposure to the litigation and there is a settlement offer.
If this turns out to be correct then guess what is not going to happen??? That’s right. No course of action for anything at all with the superior court of Brazil.
GDSI vs Rontan et al will end in a settlement after all.
It will not be a “ Very Long process”
DE 213 should be out later today or tomorrow.
No kidding!!
I didn’t say anything about reading “ALL THE TRANSCRIPTS” if you do read ANY of the “transcripts”, which you don’t need to do, to gather this information, It is also transcribed to Spanish once it is recorded to the Record for the superior court.
When you go to search the information use the key words ( Res Judicata, Foreign Default Judgements, Foreign contract Default Judgement). These should help narrow your search. If you are unable to read Spanish or Portuguese don’t waste your time, there is no English translation offered on their site.
Enjoy the reading. Hint. There are not that many cases to look over. Takes longer to refine the search.
This post includes ALL foreign judgements submitted for Recognition.
ALL means Divorces, child custody and support, civil, commercial and mediation judgements along with a slew of other “foreign judgements”.
If you take the time to break it down to the case of GDSI vs Rontan et al. A judgement of “Default” (Res Judicata) rendered against Rontan et al. You will find that the Brazilian Superior Court Recognition “process” is greatly accelerated ( under the rules of civil procedure amended 2015) and on average takes about 90 days from filing to Recognition.
You can do whatever ya want with the opinions of other lawyers. I’ll stick to the information on adjudicated cases from the Record of the Superior Court of Brazil. Pretty sure the actual case history is much more accurate than a lawyers blog post of their opinions.
The information I shared is from the Brazilian Superior court record.
The average time from the time of filing for Recognition is 90days.
The two longest cases I read, according to the Brazilian courts records, that were challenged in any way were NOT Default Judgement. Both were Recognized by the court in 186 and 178 days from the date filed.
These records show the TIME it takes from filing to Recognition (process).
No one here cares what the details of the process are. They only care about how long it takes.
The average is 90 days. With exceptions that went as long as 180 days.
Sure. With the current conditions in the world it will probably take longer as will everything else in the world right now.
It’s not intended to “convey” the entire process. It conveys the time it takes from filing to completion. The only thing that matters in the context of the discussion.
Q: How long will it take for Recognition?
A: about 90 days for foreign Drfault Judgements ( res Judicata) as per the Brazilian superior courts record.
Bullshit. Domestic proceedings are not subject to the recognition processes.
foreign judgements for Divorce or child custody are. They are from outside the country therefore not a “Domestic” Family court issue.
These links mostly address Divorces of Brazilian citizens issued in courts outside of Brazil involving a Brazilian citizen and a Non Brazilian Citizen where the non Brazilian has filed for or been awarded a divorce and or child custody. In which case if the Brazilian citizen has returned to Brazil would require the “Recognition” of the foreign courts decision by the Brazilian court. These cases can take up to 5 years to be resolved.
You realize this includes Divorce and child custody proceedings which are contested and never Default Judgements.
In fact nearly every link provided is more aligned with divorce and child custody proceedings and Recognition as opposed to corporate proceedings.
Look up corporate default judgements. 90 days on average. 180 was the longest proceeding found on the record for the superior court. Since the amended rules took effect in 2016.
There has been exactly one petition for foreign Recognition that was denied by the superior court that was a Default Judgement (Res Judicata) The only one denied since 2016, when Brazils amended Code was adopted was a judgement from a court that did not follow accepted international rules of jurisprudence. The average time from Filing to recognition is 90 days some have taken 180 days. This is NOT a very long process.
My estimate is PALS, Rontan info, 10-Q and 10–k May-June. Boom boom boom.
Expecting PALS news. More than likely before we get Rontan news or filing.
Yeah BD is as worried about Fires and Shrimp as the CFO as he is about Matt and his buddies.