Post by
coldheat on Jul 09, 2014 12:01am
PLAINTIFFS’ MOTION TO ENTER DEFAULT JUDGMENT
Plaintiffs in the case have notified the judge to prepare to hear motions for default judgment against Puda Coal Inc. and Ming Zhao at her earliest convenience This is pretty much going to be the end result of this case. I would expect a monetary judgment in the 200 million dollar range which would include the receipts tally of at least one, perhaps two, stock offerings and damage claims... Uncollectable, would be my forecast.
Comment by
coldheat on Jul 09, 2014 12:15am
The court will be considering a expert report from Peter Lert, PHD who's research and models have indicated that a aggregate damage claim of 236.7 million as out of pocket damages. This info per a submission made to the court that is included in the package submitted to the judge.