hmm ... does certain liabilities also include this?
Crusader Investments Announces It Will Continue Its Contract and Libel Lawsuits Seeking More Than $20.0 Million against World Health Alternatives
Publish Date : 11/15/2005 1:36:00 AM Source : Health News Onlypunjab.com
Crusader Investments, LLC ("Crusader" or the "Company") will continue to pursue its two lawsuits against World Health Alternatives, Inc. (WHAI.PK) despite recent events at WHAI. The Company continues to assert that is has a strong claim against WHAI and the Company will seek recovery of all amounts alleged to be owed to Crusader by WHAI. One of the actions is now moving into the discovery and deposition phase and Crusader is anxious to get an opportunity to take the deposition under oath of both current and former WHAI executives.
It is Crusader's understanding that WHAI has engaged a third party advisor to sell WHAI's operations either in their entirety or in pieces and that this third party advisor is already beginning to accept letters of intent. If that is the case, the Company intends to review each transaction and possibly assert successor liability claims against any purchaser of all or part of WHAI's operations to seek recovery of the Company's contract and libel claims totaling more than $20.0 million, if fair consideration isn't paid by a purchaser(s).
Alternatively, in the event WHAI elects to seek protection from creditors by filing bankruptcy, the Company will continue to pursue its claim against WHAI in the Federal Bankruptcy Court, while simultaneously pursuing Richard E. McDonald, WHAI's former Chairman and President, individually, who is being represented and defended by attorneys also representing WHAI, presumably at WHAI"s cost and expense.
Crusader Investments, LLC, and its affiliates, is a boutique investment bank with offices in New York and Los Angeles. Through its extensive relationships with institutional and private investors, the Company provides its public and private clients access to attractive sources of capital through both private placements and public offerings. The Company also offers traditional investment banking advisory services including merger and acquisition advice. The Company's goal is to build enduring, long-term client relationships by providing professional, independent and strategically advantageous advice.
