JPX Global Inc (JPEX)

[chemist72]

Here's words from the court (link below):

02/24/2022 Opposition and Countermotion

Judicial Officer
Allf, Nancy

Hearing Time
9:30 AM

Cancel Reason
Vacated - per Order

Comment
Opposition to Alpharidge Capital LLC's Motion to Discharge Custodianship and Enter Final Order ;and Countermotion to Discharge Alpharidge Capital LLC as Custodian, Set Aside Order Appointing Custodian, Appoint a New Custodian, and Enter an Order Allowing Claims Against JPX Global, Inc.

?
03/02/2022 Motion to Strike

Judicial Officer
Allf, Nancy

Hearing Time
9:00 AM

Comment
Alpharidge Capital LLC's Motion to Strike Nonconforming Documents

https://www.clarkcountycourts.us/Portal/Case/CaseDetail?eid=GG5KWCeh75uRdZgCf3s7FQ2&tabIndex=3

Here's my take. Alpharidge Capital (ARC) was appointed custodian of JPEX by the Court on 7/7/21 as noted below:

07/07/2021 Order

Comment
[10] Order Granting Application for Appointment of Alpharidge Capital LLC as Custodian of JPX Global, Inc.

07/07/2021 Notice of Entry

This is from link above. So by Court order ARC is currently custodian of JPEX. Someone by the name of Hovendick, Mitchell D is now contesting that Court order.

So on 2/24/22 there will be a hearing held in Court on this matter.

The Hearing on 3/2/22 is on a motion by ARC to strike nonconforming documents. This hearing may become moot depending on the results from the hearing on 2/24/22.

Its all a bit complicated now due to the contesting of the original court order by a former officer of JPEX (Hovendick).

My comment: Without looking at the evidence that Hovendick may have to present to the Court, its hard to make an educated prediction on how this may work out for Hovendick. However, ARC obviously believes Hovendick submitted nonconforming documents to the court and ARC has entered a motion to strike those documents.

Just have to wait and see what happens in court, first on 2/24/22 and then, if necessary, on 3/2/22.

Phew. What a mess!

NOTE: ARC is my abbreviation for Alpharidge Capital, LLC.