CirTran Corporation (CIRX)

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HUGE LAWSUIT now WE can PURSUE!! the answer was within the news we got, we all just over read it lol... not knowing of the lawsuit!!

U.S. Judge Takes Play Beverages LLC, Debtor to CirTran Beverage Corporation, Out of Bankruptcy, Free to Take Action to Protect Playboy Energy Drink Licenses

By Business Wire | More Articles | Save For Later
December 7, 2012 | Comments (0)

U.S. Judge Takes Play Beverages LLC, Debtor to CirTran Beverage Corporation, Out of Bankruptcy, Free to Take Action to Protect Playboy Energy Drink Licenses

SALT LAKE CITY--(BUSINESS WIRE)-- Play Beverages, LLC announced today that the U.S. Bankruptcy Court for the District of Utah has ruled in its favor and vacated its bankruptcy, freeing it to take legal actions to protect the product license granted for its Playboy Energy Drink.

Judge Joel T. Marker rejected a motion by petitioning creditors, led by the same three creditors who first put Play Beverages into involuntary Chapter 7 bankruptcy in April 2011. The judge’s ruling takes Play Beverages out of bankruptcy, enabling it to continue its action in state courts against Playboy Enterprises and others to protect its license to produce and sell Playboy Energy Drink.

Not just PLAYBOY EITHER: Play Beverages and CirTran Beverage Corp. sued Playboy Enterprises International, brokers United Licensing Group and RLC Partners, and distributor Redi FZE in Cook County Court. They also sued individual broker Jimmy Esebag, RLC principal Ron Coopersmith and Redi FZE principal Paul Levin.

above info taken from link here

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The Bankruptcy Court’s ruling also reject the motion of the U.S. Trustee overseeing the bankruptcy case to convert the case to Chapter 7 or to have it dismissed. If converted, a trustee would have been appointed to liquidate Play Beverage’s business to repay creditors.

The dismissal followed a two-day evidentiary hearing, with Play Beverages stipulating to an order of dismissal, saying it did not need bankruptcy protection.

“The ruling by Judge Marker to take Play Beverages out of bankruptcy, allowing the resumption of normal business activities, is the end of a nightmare,” said Iehab J. Hawatmeh, CirTran’s president. “Now, after 18 months of seeing every aspect of our business impacted negatively, we can move forward to hopefully regain our momentum and resume growing our beverage business.”

Introduced in 2008, Playboy Energy Drink is manufactured and distributed exclusively by CirTran Beverage Corporation, a wholly owned subsidiary of CirTran Corporation (OTCBB: CIRC) under a product license from Playboy Enterprises to Play Beverages, and is currently available in more than 20 countries around the world.