Another win for the court-appointed Receiver:
JUDGMENT entered in favor of R. Wayne Klein and against Plaskolite in the amount of $681,408.06, which constitutes $515,362.64 in principal and $166,045.42 in prejudgment interest at 5 percent from 5/14/18 through 10/21/24. Post judgment interest is awarded from the date of the entry of the judgment, at a rate equal to the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date of the judgment - CASE CLOSED.
Plaskolite is the company that manufactured the plastic lenses.
The settlement includes interest that accumulated from 5/14/2018 -- SIX YEARS AGO.
Apparently interest keeps accumulating until the debt is paid off. How long will that take?
Only 2 cases remain to be resolved:
2:19-cv-851 NSDP - Nelson Snuffer $2,237,000 (a scheduling conference is set for 04/08/25)
2:19-cv-625 Glenda Johnson $3,640,000(deceased, actions underway against her estate)
What's the status of those 200+ folks who filed US Tax Court petitions? Will they have to pay interest, too, after they lose their cases?
I suspect so.
"If it sounds too good to be true, it probably is"
-- IRS
Sure is a pretty day.
TED |
