PanAmerican BanCorp (PABN) Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)

PABN 0.00001000

0.0%

Mar 7 3:00 PM EST

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To: ColleenB who wrote (43535)	6/4/2000 1:50:00 PM
From: PatP	Read Replies (2) of 43774

In New York the defendant has 20 days to respond to a complaint after it is served. I don't have the complaint in front of me at the moment, but I believe it was served 4/18. I don't know what the default procedure is in NY. But in general, once the plaintiff files for a default, or clerk's judgment, he is entitled to a lien. The problem is, how does one levy on what appears to be a judgment proof entity (and judgment proof individuals... Schmitz and Gamble)? Can you name some assets? Also, if the company is inclined to prolong the process they might be able to file to set aside or cure the default. This takes money for an attorney and if there's no excuse for not responding within the 20 day period, or if there's no defense to the suit, why bother?

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