Indigenous Bloom Hemp Corp VRTHF

Legal proceedings against LIHT cannabis for outstanding loan

[CBintel]

https://stockhouse.com/news/press-releases/2019/03/04/veritas-pharma-to-commence-legal-proceedings-against-liht-cannabis

[longsolo]

Does veritas do anything well? This was supposed to be a secured loan from assets in the USA from Merapharm. This is really becoming a joke.

[Extalliones]

Who said it's not mortgage backed and the legal proceedings aren't a foreclosure forcing them to sell their assets?  Having security doesn't mean you can simply go and start seizing assets whenever you like.  You still need to get a court order.  

[moly4u]

i agree

[longsolo]

On June 25, 2018, the Company entered into an 8% three month secured one million dollar ($1,000,000.00) loan agreement with Marapharm Ventures Inc. (CSE:MDM). The loan is fully secured by the assets of Marapharm. I just said it was a secured loan. Not sure why the disagreement.

[Extalliones]

The disagreement is because you're asking if they do anything well?  I don't think you understand how security is enforced.  The loan has to first expire (it has).  You then have to make demand for the loan (which they have done).  If Maraphram refuses to repay (which they have), then you MUST start legal action to obtain an Order Nisi, also known as an order absolute,

[longsolo]

Well your 100% right. I dont know how the legal proceedings go. I should have used the phrase. Does anything go smoothly for this company? If I said that I would have been 100% right