Temporary Receiver for Shopps.com Appointed
One of Shopss.com's creditors is "Maariv", to which the company owes hundreds of thousands of shekels.
Yitzhak Danon 5 Apr 00 18:04
The Tel Aviv district court yesterday appointed Adv. Shalom Goldblat temporary receiver for OneStop.com (Shopss.com), authorizing him to seize and manage company assets and investigate the suspicion that it had smuggled its assets.
Hashmira, which filed the petition, argued that its own investigation into the matter has revealed that OneStop.com has run up heavy debts, due to the failure of its marketing campaign. According to Hashmira, OneStop.com still owes hundreds of PCs to its customers. (Television program Kolbotec recently broadcast the outcome of its own investigation into the affair).
It was further argued that, due to mismanagement, OneStop.com has run into financial difficulties, and that other claims and debt collection cases have been filed against it. For instance, OneStop.com has not repaid "Maariv" a debt of hundreds of thousands of shekels.
Hashmira further argued that the behavior of OneStop.com, its owners and managers (the owners are OSCM - OneStop.com and Rami Adler of Tel Aviv) corroborates fears that OneStop.com does not intend to repay its debts. According to Hashmira, OneStop.com is seeking to smuggle its assets, revenues and operations, in order to avoid paying the sum ordered by the court, as well as other debts.
Published by Israel's Business Arena on 4 April, 2000
Temporary Receiver for Accesstel-Shopps.com Appointed
ACCESSTEL INC - Third Judicial District Court of Salt Lake County, State of Utah, - Appoints Receiver For AccessTel, Inc. In Civil No. 010903821
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Story Filed: Monday, May 07, 2001 1:00 AM EST
New York, New York, May 07, 2001 (Market News Publishing via COMTEX) -- Droz, Reed & Wangsgard, LC announced that its Motion to Appoint Receiver for AccessTel, Inc. a Utah corporation (the "Company"), was presented to the Third Judicial District Court of Salt Lake County, State of Utah, in Civil No. 010903821 and was issued on the afternoon of May 3, 2001.
About Civil No. 010903821
On May 1, 2001, Droz, Reed & Wangsgard, LC filed suit in the Third Judicial District Court of Salt Lake County, State of Utah, Civil No. 010903821, to assert claims, on behalf of its clients, prior management of Shopss.com, Inc., a Utah corporation, against AccessTel, Inc. and the original shareholders of AccessTel, Inc., a Delaware corporation. The Complaint demands rescission of the Dec. 18, 2000, Share Exchange Agreement (the "Exchange Agreement") by and between Shopss.com, Inc. a Utah corporation, on the one hand, and AccessTel, Inc. a Delaware corporation and the shareholders of AccessTel, Inc., a Delaware corporation, on the other hand. The Complaint alleges that Shopss.com, Inc. was induced to enter into the Share Exchange Agreement through a series of false representations made by AccessTel, Inc., a Delaware corporation and the shareholders of AccessTel, Inc., a Delaware corporation. The Complaint also includes alternative causes of action for fraud, conversion, injunctive relief, and the issuance of a Writ of Replevin.
CONTACT: TEL: 810/578-3510 Droz, Reed and Wangsgard, LC
Larry G. Reed
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