Penny's BreakOuts

[pba]

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http://hannoverhousemovies.blogspot.com/search?updated-max=2019-02-05T11:15:00-08:00&max-results=7
ORIGIN MATTER UPDATE - As we predicted, the appointment of a "receiver" in Texas was both absurd and unenforceable; accordingly, HHSE was not surprised to learn today that the receiver who had been appointed to the case has declined to accept the appointment, stating that there is nothing in the State of Texas to attach. For those of you that read and follow this HHSE management blog (as opposed to intentionally inaccurate sources), the Origin matter is NOT a great big, scary "ooohhh, you'd better sell us your shares now" development. It is, in fact, a matter that has a meritorious legal basis at this point in time to be completely set-aside. For your edification, below are excerpts from the HHSE Blog of Jan. 13 (mentioning the company's strategy), and from last week, January 18 (mentioning the unenforceable nature of a Texas-based receiver against a non-Texas entity).

(Excerpt from HHSE BLOG, Jan. 18, 2019) "Well, the Dallas Texas Civil Court that has been handling the ORIGIN VS. HANNOVER HOUSE litigation made the unusual (if not Draconian) move to approve the assignment of a "Receiver." This is odd at best because Hannover House has no offices in Texas, no assets in Texas and no customers with headquarters in Texas. The appointment of a receiver in Texas has the same "real world impact" as appointing a receiver to attach Hannover House assets on the Moon."


(Excerpt from HHSE BLOG, Jan. 13, 2019) "Item 7 (referring to Origin Releasing) is a judgment which was voluntarily entered into by HHSE, but newly obtained documents show that the HHSE was induced into accepting the judgment based on an agreement that had been modified by the Plaintiffs; accordingly, this provides the basis to either re-open the case in Texas or to dismiss it under Arkansas Law."


CRIMSON FOREST MATTER UPDATE - As of yesterday, a settlement with Crimson's counsel and Hannover House is now being mutually drafted... and this dispute will be removed from calendar and future actions in the Los Angeles Superior Court. Upon mutual approval, additional details concerning the principal terms of this settlement may be released.