BlackStar Enterprise Group Inc (BEGI)

[Bubae]

We have another lawsuit update 8K! 🤣 I appears that the GS Capital lawsuit is going to trial with pretrial conference scheduled for March 25th according to the docket update. Blackstar is claiming that GS Capital requested their shares after the note was paid in cash. So I see a request for shares by GS Capital date in the January lawsuit update 8K of November 2nd 2023. Then GS Capital files the lawsuit on November 6th followed by the granting of the restraining order by the court on Blackstar dated November 9th according to the docket schedule. We do see an attempted payment by Blackstar dated November 15th in the Q3 2023 filing. I say attempted payment because this is what Blackstar states in the January lawsuit update 8K "...The Company attempted to resolve the dispute by paying the note in full..." The November 15th date of "attempted" payment was well after the November 2nd request for shares but who am I to say since I admit that I am not an attorney. 😆 This is fun to watch as Blackstar twists in the legal winds over a stupid note remaining principle balance of only $33,682. 🙄



8K - Date of report (Date of earliest event reported): October 1, 2021
GS Capital Partners, LLC Note
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594921000193/begi8k2021.htm


Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): January 11, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm

The Company attempted to resolve the dispute by paying the note in full. Plaintiff accepted full payment. However, after accepting full payment, and in the context of a preliminary injunction, the Plaintiff requested specific performance (a mandatory injunction) to obtain conversion of certain shares based on Plaintiff’s representation that it “would have” made conversions prior to the payoff it undisputedly accepted.

Meanwhile, the preliminary injunction ordered the Company to honor the conversion requests of November 2, 2023 (for the conversion of 62,084,333 shares of common stock – completed December 21, 2023) and the three subsequent requests GS Capital claimed it “would have” made...


Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): February 27, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm

...the Company invokes several affirmative defenses that bar Plaintiff’s recovery in the action and alleges that Plaintiff breached the terms of the agreement, including, but not limited to, obtaining the conversion of BlackStar’s stock after the Promissory Note was fully paid off.

Amongst other claims, the Company alleges that the Plaintiff acted in bad faith and in violation of usury laws by recovering an estimated $600,000 dollars in BlackStar stock off of a $60,000 promissory note, estimated at a roughly 170% interest rate....


For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm

ITEM 1. LEGAL PROCEEDINGS

Subsequent to the end of the period covered in this filing, on November 6, 2023, the Company was notified of a lawsuit filed in Clark County, NV against the Company by GS Capital Partners LLC regarding the unavailability of conversion shares relating to the Promissory Note entered into on October 11, 2021 and the remaining principal balance of $33,682. The plaintiff sought specific performance for the reserve of 700,000,000 shares, or damages in excess of $15,000, plus interest, costs, and legal fees. The Company has paid the note in full on November 15, 2023 totaling $51,196.71 in cash and issued no shares. The Company is attempting to settle the dispute.



case number is A-23-881099-B, plug it into the court search query linked below.

https://www.clarkcountycourts.us/Portal/