Right, it WAS a reverse merger and LIABILITIES were addressed in the LEGALLY BINDING Plan that absolved GDHI and Diamond of anything having to do with Diamond or Elliot while he was in control, and I stand by everything I previously posted. Here is the entire excerpt from the Plan. If you really wish to collect on that Judgment you should consult with an attorney. GDHI’s attorneys did a good job in protecting GDHI’s interests.
(3.10.5) Absence of Undisclosed Liabilities. Each corporation has, and has no reason to anticipate having, any material liabilities which have not been disclosed to the other, in the financial statements or otherwise in writing. Elliott has eliminated all liabilities listed on Exhibit A and there are no unknown liabilities and/or threatened litigation or claims against DPWS. In the event liabilities are discovered after Closing, any liability that arose while Elliot was in control of DPWS shall be paid for by Elliot and shall be the sole responsibility of Elliot. Elliot shall hold harmless the Golden Dragon and DPWS and its respective agents or representatives (the "Indemnified Persons") for, and will pay to the Indemnified Persons, the amount of, any loss, liability, claim, damage (including, without limitation, incidental and consequential damages), cost, expense (including, without limitation, interest, penalties, costs of investigation and defense and the reasonable fees and expenses of attorneys and other professional experts) or diminution of value, whether or not involving a third-party claim (collectively, "Damages"), directly or indirectly arising from, attributable to or in connection with:
(a)
any representation or warranty made by Elliot in this agreement or any closing deliveries, that is, or was at the time made, false or inaccurate, or any breach of, or misrepresentation with respect to, any such representation or warranty; and
(b)
any breach by the Elliot of any covenant, agreement or obligation of Elliot contained in this agreement.
(c)
any claims or litigation relating to Elliot or DPWS while Elliot was in control of DPWS now pending or threatened or which may hereafter be brought against Indemnified Persons based upon events occurring prior to the date hereof and not attributable to the acts of the Indemnified Persons.
(d)
any and all actions, suits, proceedings, claims, demands, assessments, judgments, costs, losses, liabilities and reasonable legal and other expenses incident to any of the foregoing.
Bottom line: GDHI is OFF THE HOOK.
I am happy to announce that this is my last boring post on this non-issue. If "they" wish to continue to pound away at this nothingness, then so be it. They will be the big losers in the end.
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