Universal Express, Inc. (OTC:USXP), announced that a jury in the Circuit Court, Dade County, Florida, yesterday awarded USXP a damage verdict after trial of $389 million dollars ...
"Mr. Tifford expects to recover on behalf of the Company a substantial part of the judgment with a relatively short period of time," stated Mr. Gunderson.
"Arthur Tifford, the Company's lead attorney, has indicated to me that he is certain that these defendants have hidden hundreds of millions of dollars."
"Our counsel fully believes that the assets do exist and in due time his staff believes that they will locate and capture the defendant's funds."
"Universal Express, Inc.'s General Counsel, Chris Gunderson announced today that the Company's attorneys have located assets of the defendants and are proceeding with writs of attachment and garnishment."
"Universal Express, Inc.'s General Counsel, Chris Gunderson, announced today that hard assets of the defendants have been located in the United States with respect to the $389 million judgment received by the Company"
"... announced today that collection steps for the $389 million judgement for hard assets, accounts, stock certificates, currency and bouillon would involve additional cities and countries in which the defendants operated principal offices and branches, including Atlanta, Chicago, Dallas, Denver, Hartford, Los Angeles, Phoenix, New York, Palm Beach, Washington D.C. and Brazil, Canada, Germany, India, Mexico, Netherlands, Russia, Spain and Venezuela."
"Despite some understandable banking and administrative setbacks due to the September 11th attack, I believe that the $389 million dollar judgment in favor of the Company is substantially collectible over a relatively short period of time...."
"Our continuing to develop our core businesses, continuing the collection efforts on our $389,000,000 judgement and applying for additional and alternative trading exchanges here and abroad, will be our directives for 2002", said Richard A. Altomare, President and CEO of USXP."
"Although we all would like very quickly to state specific numbers and small seizures, for obvious reasons we intend to follow the direction and experience of our lawyers to increase and insure our intended and maximum settlement," said Richard A. Altomare, President and CEO of Universal Express.
The Company's General Counsel, Chris Gunderson states, "The defendants and their co-conspirators have hidden hundreds of millions of dollars, and I am confident that the judgment is substantially collectible."
"Our professionals have located various offshore venues which they will visit shortly for possible collection accounts."
"To continue on this highly visible collection process, I once again repeat our corporate position on the awards, the collectibility, and the options of our developing company," continued Mr. Altomare.
"I believe that these judgments, as well as an additional post-judgment interest so far of $82 million dollars, totaling judgments and interest of $608 million dollars, is substantially collectible."
All from USXP press releases.
