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Re: Here is the crib notes on the lawsuitUS2: With all due respect, you have missed the issue that, in the event the 39 of 40 units accepted payment based on fraudulent representations by Phil et, al., they all now have the right to sue to "recover" profits that were fraudulently denied them. Someone correct me but I thought I read somewhere that the statute of limitations doesn't toll when fraud was involved. Also, after reading the transcript of the Martin case, I'm pissed that Phil, knowing and acknowledging potential effect on IOC pps, didn't, couldn't, wouldn't reach a deal with Peters to put this case behind him. The "no comment" by IOC on Friday pm dosn't cut it. They could have stated something much more positive. Another comment regarding the outstanding case: With the potential liability of $1.2 outstanding against IOC, can Phil still negotiate from strength, especially the Japanese (who value honor and honesty above all else)? Best solution now is a deal, and soon; either with Mitsui this week or with Peters. Best to put this all in the past. End of rant. Good luck to all. |
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Msg # | Subject | Author | Recs | Date Posted |
4557 | Re: Here is the crib notes on the lawsuit | Joenobody06 | 0 | 3/27/2010 2:17:49 PM |
4558 | Texas Fraud Lawsuit time limitations are 2 or 3 years. See laws below.IOC is 10 year old. | jft310 | 3 | 3/27/2010 2:19:05 PM |