Walhall, your question has merit, since someone like Dr. Meyerson may not realize the financial jeopardy he is in.
The lawyer told me that Court Judgements are often mutual for all defendants. If there is an $8 million court judgement, it would be 100% payable by each defendant. So, if Meyerson had the $8 million, the claimants would collect from him, and then he would attempt to collect from the other defendants. If he only had $350,000, they would take that and then chase the others for the balance.
Even if Dr. Meyerson is ruled by the court to be innocent by the end of the trial, he may have to pay out $100,000 in legal fees to defend himself. He may have to spend another $100,000 in legal fees to defend himself from claims of the other CVBT officers that he incurred debt with their authorization. These things can get messy quickly.
In the CVBT Involuntary Bankruptcy Petition, I believe it stated CVBT’s total wage claims are over $20 million. At an interest rate of only 8% per year, each year the officers and directors would incur another $1.6 million in debt which they could be personally liable for.
I asked the lawyer, could the CVBT officers and directors file for personal bankruptcy? He said, if they have been operating CVBT while they knew it was insolvent, to pierce the Corporate Veil the claimants would have to effectively prove fraud. Conducting business when you knew you could not pay the bills, would be fraud. If the word fraud is in the Judgement, then they can not use bankruptcy. This is basically the same claim the Texas Bankruptcy lawyer is claiming against Wallen to pierce the corporate veil of Tauren.
Why would the Officers and director of CVBT do business this way?
The good news is the Annual Shareholders meeting is only a few weeks away. Hopefully we will get an Audit Statement showing CVBT is financially sound. We have been promised an Audited statement for years now. Now we really need one! We are told an IPO is close (which requires an audit) and the price is $3.00 per share (almost a billion dollars) and other people in court claim CVBT has a negative new worth of $35 million with no viable business. We should learn the answers at the Annual meeting in a few weeks.
Is the hate so personal against the CVBT Officers and Directors that people will spend a $100,000 in legal fees just to destroy their lives?
I fear so.
AI
