RE: DTCC Chill
I am a Shareholder of VLXC (Veltex Corporation), which also has a DTCC Chill on it.
Can anyone here offer advice on how to get the DTC Chill lifted? The DTCC Suspension of VLXC I believe started in November 2010.
Below is Recent News for Veltex Corp. Stock Symbol: VLXC):
Veltex Corporation Awarded Damages on All Counts $102 Million Final Judgment Entered by US District Federal Court
Published: Wednesday, 28 Mar 2012 | 11:36 AM ET Text Size
CHICAGO, March 28, 2012 /PRNewswire via COMTEX/ -- Veltex Corporation-- OTC Markets symbol (VLXC) A Final Judgment was signed and entered yesterday by a United States District Court Judge in California. In one of the largest civil awards ever in the Central District of California, Chief US District Court Judge Audrey B. Collins entered the Order and terminated the case in favor of Veltex ("Veltex") a Chicago-based holding corporation, on all counts.
On March 10, 2010, Veltex's attorneys filed a 96-page federal complaint on behalf of Veltex Corporation in the United States District Court, Central District of California (Western Division - Los Angeles) entitled, Veltex Corporation vs. Javeed Azziz Matin et al, case number 2:10-cv-01746-ABC-PJW.
That case alleged damages from 22 individual and corporate defendants. The federal litigation outlined a massive fraudulent conveyance and transfer count wherein millions of dollars of corporate assets were stolen by the named defendants.
The amount of the final award exceeded $102 million in which $100,078,621 in fraudulent conveyance and transfer damages to the corporation was found. The Court further ordered $793,442.86 in prejudgment interest to be paid to Veltex.
The Court also ordered $2,005,172.42 in attorney's fees along with cost and expenses of $3,859.95 bringing the total amount of the award to $102,881,096.23.
The award will also carry post judgment interest annually as calculated by Federal rules. The Court also found certain defendants to be liable to Veltex both jointly and severally. The Court will retain jurisdiction over all other defendants who had previously settled with Veltex. Certain defendants had settled with Veltex under strict confidential settlement agreements.
Veltex retained the Los Angeles law firm of Blecher & Collins PC. to bring the complaint, on behalf of the corporation, in California federal court. Lead attorneys Maxwell M. Blecher, Maryann R. Marzano and Kristen M. Peters represented Veltex. Merle L. Royce of the Law Firm of Merle L. Royce was Chicago counsel in the matter for the corporation.
Veltex will update shareholders with developments as progress warrants. Copies of the litigation and court Orders can be found on the corporation's website at
Veltex Corporation, a Chicago-based holding corporation, maintains its corporate headquarters in Chicago, Illinois.
AI
