Hard to Treat Diseases, Incorporated Announces Litigation Update
DELRAY BEACH, Fla., Mar 21, 2005 (PRIMEZONE via COMTEX) -- Hard to Treat
Diseases, Incorporated (HTTD) (Pink Sheets:HTDS) announces today that the
Company has filed Motions to Dismiss Chapter 7 bankruptcy filings in Oklahoma by
Gerry Knight ("Knight"), a defendant in the pending Federal litigation in the
Southern District of Florida against Ronald Shinn ("Shinn"), Knight, and Shinn
Capital Group, Inc. ("Shinn Capital").
In what the Company maintains is an attempt to circumvent the Federal
Litigation, which is currently set for trial on the Court's May 2, 2005 trial
docket, Knight has purported to initiate Chapter 7 bankruptcy filings in the
state of Oklahoma for the two Oklahoma corporations the Company owns -- Hard to
Treat Diseases, Inc. and T-19, Inc. HTTD has filed Motions to Dismiss those
filings based on the following simple facts: HTTD owns 100% of the voting stock
in both corporations which allows the Company to exercise control over those
entities; Defendants resigned from HTTD on October 13, 2003, thereby eliminating
any lawful ability of Shinn or Knight to exercise authority over those
companies; neither Shinn nor Knight have any legitimate or lawful right to
purport to sign any documents on behalf of HTTD-OK or T-19; and, as a result,
Knight's statements and schedules in support of the bankruptcy filings are
false, inaccurate and submitted without any lawful authority.
In the Federal litigation, one series of claims that the Company has asserted
against Shinn and Knight is that they have unlawfully interfered and continue to
interfere with HTTD's rights to its subsidiaries.
The Company has aggressively moved in the Bankruptcy Court to have the
unauthorized and illegitimate filings dismissed, because HTTD, as the sole
shareholder of the voting stock of its Oklahoma subsidiaries, has the sole right
to appoint the officers and agents of those subsidiaries, which are not Shinn or
Knight.
The Company is confident the bankruptcy filings will be dismissed based upon the
facts and the evidence. As stated in prior press releases, Defendants previously
attempted to bring a lawsuit in Oklahoma state court against HTTD and others to
circumvent the pending Federal litigation -- the Court dismissed the case. The
Company will vigorously pursue its claims against Defendants' for their latest
attempt to interfere with HTTD's rights to its subsidiaries.
As a result of Defendant's attorneys withdrawing from representing Shinn,
Knight, and Shinn Capital, the Federal Court issued an order on February 17,
2005 advising the Defendants they had fifteen (15) days to retain new counsel.
The Defendant, Shinn Capital, was further advised that its failure to retain new
counsel within the time designated by the Court might result in adverse
sanctions, including entry of default judgment, against this Defendant.
Defendants retained new counsel before the deadline.
Pursuant to the Court's previous advice and orders, the parties are scheduled to
engage in continued negotiations and Court-ordered mediation this week.
Management's intention and goal with this litigation is to resolve the current
dispute in the most efficient and economical manner to provide the maximum
benefit to the Company and to HTTD's shareholders.
HTTD's shareholders and investors will be kept informed of all public
developments as they occur regarding the above matters. In order to ensure the
confidentiality of the Company's business and legal strategies, certain specific
information may not be immediately available. Once such information can be
revealed, it will be publicly disclosed to all shareholders.
HTTD is currently involved in litigation regarding the rights to Tubercin(r).
Additional information and details regarding the litigation can be viewed at our
website at: www.htdsotc.com.
SOURCE: Hard to Treat Diseases, Inc.
By Staff
CONTACT: Hard to Treat Diseases, Incorporated
Colm J. King, CEO
(561) 278-7856
www.htdsotc.com
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