UnderSea Recovery Corporation (UNDR)

[Emily1212]

Here are my initial thoughts of the brief in support of the default judgment motion.

Company followed the notification requirements of the lawsuit (mailing and publication) and provide required documentation to the court all requirements were met. Since Madero did not respond to any of the notifications, the company attorney filed a motion for the default judgment and the clerk posted this (last posting). This brief tonight reviews the basis of the lawsuit and shows the breach of the $10m that Madero contractually agreed to fund the company and failed to do so. So Undersea is seeking this contractural amount plus accrued interest plus both attorney fees plus whatever else is able to be collected in a contractural breach lawsuit. The judge has to have proper documentation to support an amount to be awarded to Undersea, right?

I was able to open one of the exhibits while driving and saw the company attorney prepared the court document that the judge would complete and sign which finalizes the amount to be awarded and the judge’s signature. I am sure there is additional information in the exhibits but this is my initial understanding of tonight’s filings.

One step closer to the judge signing off on the company winning the default suit. Judge may have everything in front of him right now and can sign the paperwork tomorrow... Madero never made any effort to respond so this could be completely done with the stroke of a pen!!! Merry Christmas All!!!!!