Dallas Texas Civil Court that has been handling the ORIGIN VS. HANNOVER HOUSE litigation made the unusual (if not Draconian) move to approve the assignment of a "Receiver." This is odd at best because Hannover House has no offices in Texas, no assets in Texas and no customers with headquarters in Texas. The appointment of a receiver in Texas has the same "real world impact" as appointing a receiver to attach Hannover House assets on the Moon.
Hannover's counsel in this matter feels that what the attorneys for Origin are hoping for is that the appointment of a receiver in Texas will somehow create "unencumbered cash and receivables" to apply against the settlement agreement. Certainly, as clearly communicated to Origin, their counsel and the court, there are NO unencumbered assets or receivables for Hannover House / Medallion... and any attempt to circumvent prior security interests will hit a wall.
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