Allied Security Innovations Inc (ADSV)

[whatshisname]

I'll add a little more to that....

The summary judgement is final. From the document:

"ORDERED, ADJUDGED AND DECREED that defendant CGM Security Solutions, Inc. recover from plaintiffs CGM Applied Security
Technologies, Inc. and Allied Security Innovations, Inc. the sum of $4,075,000 (Representing the principle sum due February 28, 2011 together with $70,000 for the quarterly interest payment due February 28, 2011 and $5,000 representing Per Diem interest thereon to May 18, 2011) plus interest thereon at the rate of 9% per annum, and have execution therefor.

DATED: New York, New York
May 27, 2011"

So, the ball is now in Shupin's court. He only has three options:

1) File an appeal against the judgement.
2) File an extension of an appeal of the judgement against ADSV giving ADSV more time to come up with a strategy to combat the judgement
3) Capitulate and turn over assets to Hoffer.

The fantasy of Shupin taking Hoffer to court for being a bad boy is just that, fantasy. Shupin can try it but it will fail to nullify the summary judgement of Judge Stanton. Why do I say that? Because it was the strategy ADSV tried in the first place, which Shupin voluntarily backed down from.

Also, in case the members of this board haven't looked into it, a Summary Judgement happens when there is no dispute as to the material facts of the case and a party is entitled to judgment as a Matter of Law. In other words, both sides:

1) Agreed with the contract as written.
2) Both sides agreed that Shupin has violated the terms of the contract.
3) Both sides agreed that Shupin owes Hoffer money as per the contract.
4) Both sides agreed that Hoffer is free to persue the return of the assets of ADSV to him.

Since Shupin failed to provide any evidence to the contrary Judge Stanton was free to terminate the case without a trial and decree a summary judgement.