Cal-Bay International Inc (CBYI)

[Alyssa]

That was to enforce a corporate guaranty to which Pawson committed CBAY to the tune of $800 K +. It was strongly insinuated by the Edgewater attorney I spoke with that the property is or was to be Pawson's personal residence, and that the property was never one of CBAY's assets. Pawson had called the attorneys for Edgewater and told them that Leo Moriarity, Jr., would be filing an appearance to represent both Pawson and CBAY, and SURPRISE! It just didn't happen; hence, the default.

I, too, hope that Rizvi has been working hard to ease CBAY out of its various legal troubles, but the change of control from Pawson to Rizvi wouldn't negate CBAY's obligations under the corporate guaranty to Edgewater, would it?