One Case Against Regency-Superior Comes To An End With Judgement For The Plaintiff Of $209,000

The original topic is locked but I wanted to keep track of what the outcomes are. The poor lady will never see a penny.

01/21/2020

Judgment Entered




Voluntary Dismissal Filed


PLAINTIFF DISMISSES DEFENDANT DAVID M. KOLS WITHOUT PREJUDICE.



Order


THEREFORE, IT IS ORDERED AND DECREED THAT JUDGMENT IS HEREBY ENTERED IN FAVOR OF PLAINTIFF AND AGAINST DEFENDANT REGENCY-SUPERIOR, LTD. IN THE TOTAL AMOUNT OF $209,932.64 (CONSISTING OF THE PRINCIPAL AMOUNT OF 4167,040.00 PLUS PRE-JUDGMENT INTEREST TOTALING $42,892.64), TOGETHER WITH POST-JUDGMENT INTEREST. COSTS TAXED TO DEFENDANT REGENCY-SUPERIOR, LTD. SO ORDERED: JUDGE BRYAN HETTENBACH

And has anything changed? Are folks are still supporting auction houses who take material on consignment without an understanding of their financial health?
Don

Guilty.

Sad story.......It is a story about one man's climb to the top of a business and his ego .I knew David for 30 years . I knew his family and staff .His companies gold foil stickers are still in a few binders and albums on my shelves .

Who is going to pay?

Nobody ..........The U.S. courts never leave the grieving wife broke .....even Bernie Madorf's wife has a trust that's handled by the courts. The banks got little of the loans back that they made . Sad all the way around .

The judgment is against Regency Superior Ltd., not against David Kols in his personal capacity (he was dismissed from the action). So the plaintiff has an uncollectible judgment against an insolvent corporation.

She has a legitimate tax deduction (bad business debt).

I wonder if the former senior employees are putting the company on their resume. The ASDA has removed some aspects related to him as he was dealer of the year.

"The judgment is against Regency Superior Ltd., not against David Kols in his personal capacity (he was dismissed from the action). So the plaintiff has an uncollectible judgment against an insolvent corporation."

So why would she have bothered to sue if there was nothing that could be collected?

Perhaps it was difficult to swallow losing $167,000?

She might have wanted to hold Regency accountable and wasn't looking at it from a financial perspective.
She might have received bad advice from an attorney seeking to generate legal fees.
She might have thought that Kols or the corporation or other officers had money that was hidden away.
She might have thought that there were improper payments or transactions that could be unwound.