You made a claim that there were no Parallel “court cases” and then you post the link to a Brazilian case running Parallel to the case in Florida. With the exact same Defendants. “Rontan and the Brothers Bolzan. “
On top of that. The article claims that after judicial review and forensic break the plan for Rontan to repay Creditors(taxes) $750m BRL, ($191m USD) could be approved soon after a February recess.
Rontan, the company that is broke and can’t even pay an award to GDSI if one was ordered. But can enter into a repayment plan to pay off $191m in back taxes.
The same Rontan that cant afford to pay its most excellent, all knowing, superior lawyer Mr. Carlos Osorio ~$200k or it’s previous most excellent council Jake Baccari and Kelly Pena the ~$80k it owes them.
“The decision of the creditors will still have to undergo judicial approval, which should occur soon after the end of the forensic recess in February.” (Excerpt from the link)
Looks like Rontan can easily meet the financial conditions needed to pay a settlement or judgement.
If there is an award of Specific Performance with incidental damages. GDSI will be the owner of a marketable enterprise with turnkey revenue substantial enough to pay off $191m in debt in a short period of time plus ~ $90m cash. $100m purchase price less $191m in undisclosed tax liabilities. Obviously the taxes must still be paid thus the offset in the purchase price.
Hopefully there is a considerable amount already paid down on the liabilities as this arrangement would have been finalized in the 1Q of 2019. As this article is from Dec 2018.
Not going to bother with the profits taken by the Bolzan’s for the past 5 years. What we know as fact to this point is quite substantial.
Wonder How many of the lawyers involved with the reorganization collect a paycheck from BSF also??Maybe none. Maybe some. The next 60 days should prove quite interesting. Maybe Rontan brings in new council in the 11th hour. Ohhh now that would be fun.
GLTA
