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Microcap & Penny Stocks : MPTV- Look for a major move in stock price
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To: OnLineTrader who wrote (2511)5/25/2002 1:49:20 PM
From: OnLineTrader  Read Replies (1) of 2539
 
Case 01-A-440744-C, minutes (5/23/02):
Matter trailed for Mr. Davis to be present. Mr. Babero reviewed the facts of the case and advised the taxes were delinquent on 59 apartments but have been paid on only 21 apartments. Mr. Davis advised payments have been made and proof was submitted on the 1999 tax delinquencies, but the county is applying the payments parcel by parcel. Further advised they hope to pay the remainder of the taxes by the end of next week. Argument by Mr. Babero that the county has foreclosed on the property and filed an Intent to Deed and Transfer the property which will be effective on June 5. Mr. Babero advised that Judge Gates ordered payment of the taxes by May 25. On May 22 they received proof that only part of the taxes have been paid. Request by Mr. Babero for sanctions and for attorneys fees and oral motion to renew request for a receiver to be appointed. Argument by Mr. Davis that Mr. Babero's clients were in control in 1999 and 2000 when the taxes were not paid and his clients have been trying to catch up ever since. Mr. Davis advised the tax buy out when they acquired the property was $250,000, it is now down to $35,000 - $40,000. Further advised they have been in contact with the tax authorities who have been cooperative. Court noted that since May 25 does not fall on a business day, Mr. Davis' clients have until May 28 to pay the taxes. COURT ORDERED matter continued for further proceedings; Mr. Davis to have the taxes current by that time. If matter is not cured by that time, Court will award fees to Mr. Babero and may also consider appointing a receiver. Mr. Davis advised that for the record he wishes to point out that some of the statements made by Mr. Babero were not accurate.

FURTHER PROCEEDINGS 5/30/02 9:00 A.M.
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