Aremisoft liquidating trust shounen ai dating game

02-Sep-2019 12:55

If it appears that the debt is due and owing –and there is a danger that the debtor may dispose of his assets so as to defeat it before judgment- the Court has jurisdiction in a proper case to grant an interlocutory judgment so as to prevent him disposing of those assets”.While it appears that English courts had jurisdiction to grant Mareva injuctions over foreign assets it has been the practice to limit such orders and ancillary disclosure orders within the jurisdiction.

FBS’s original mandate was to make real estate acquisitions from the Resolution Trust Company (during the Southwest S&L bailouts). Continued Fred Zeidman has served as Chairman of the Board of Directors of Petroflow Energy Corporation since September 2011. Zeidman has also served as a director of Hyperdynamics Corporation since 2009 and as a director of Prosperity Bancshares, Inc. He served as trustee for the Aremis Soft Liquidating Trust since 2004.

For the following reasons, I dismiss the complaint on the ground of forum non conveniens. Kyprianou and Poyiadjis sold their shares at these inflated prices to investors who were not privy to their knowledge concerning the true value of the Company. By the time the fraud was uncovered in 2001, Aremis Soft shareholders had sustained losses of approximately 0 million. On May 17, the New York Times reported that the time value of an Aremissoft contract with the Bulgarian government was not the .5 million claimed by the Company but rather less than million.

From about 1998 through July of 2001, Lycourgos Kyprianou and Roys Poyiadjis, two Cypriots who were officers of the Company, false public statements and regulatory filings representing to the public that it was experiencing rapid growth when in fact its growth nowhere neared the stated revenues. They fabricated records in support of these falsehoods. The effect of these fraudulent misrepresentations was that the value and profitability of the Company were perceived to be much greater than they actually were, and consequently the price at which the Company's shares were traded on the open market was artificially high. In order to give the impression that the stock sales were arm's length sales by other investors, Kyprianou and Poyiadjis devised a money laundering scheme, employing various entities to hold and sell their Aremis Soft stock. Kyprianou allegedly breached his fiduciary duties in other ways, by converting assets purportedly used to acquire software companies for his own personal benefit, and failing to account to Aremissoft for his insider trading profits. When the truth about the Company was revealed, the value of the stock plummeted, and investors suffered great losses. By May 2001 attention began to be focused on Aremis Soft for reporting inflated income. By May 24, 2001, at least one class action lawsuit against Aremis Soft and its directors had been filed. On July 31, 2001, the, Company was delisted from NASDAQ.

Aremis Soft Corporation ("Aremis Soft" or "the Company") was a software company, incorporated in Delaware in 1997, that purported to develop, market, implement, and support software applications for mid-sized corporations in the manufacturing, healthcare, hospitality and construction industries.

Much of the following account is drawn from the complaint, whose well-pleaded factual allegations are taken as true on this motion.

FBS’s original mandate was to make real estate acquisitions from the Resolution Trust Company (during the Southwest S&L bailouts). Continued Fred Zeidman has served as Chairman of the Board of Directors of Petroflow Energy Corporation since September 2011. Zeidman has also served as a director of Hyperdynamics Corporation since 2009 and as a director of Prosperity Bancshares, Inc. He served as trustee for the Aremis Soft Liquidating Trust since 2004.

For the following reasons, I dismiss the complaint on the ground of forum non conveniens. Kyprianou and Poyiadjis sold their shares at these inflated prices to investors who were not privy to their knowledge concerning the true value of the Company. By the time the fraud was uncovered in 2001, Aremis Soft shareholders had sustained losses of approximately 0 million. On May 17, the New York Times reported that the time value of an Aremissoft contract with the Bulgarian government was not the .5 million claimed by the Company but rather less than million.

From about 1998 through July of 2001, Lycourgos Kyprianou and Roys Poyiadjis, two Cypriots who were officers of the Company, false public statements and regulatory filings representing to the public that it was experiencing rapid growth when in fact its growth nowhere neared the stated revenues. They fabricated records in support of these falsehoods. The effect of these fraudulent misrepresentations was that the value and profitability of the Company were perceived to be much greater than they actually were, and consequently the price at which the Company's shares were traded on the open market was artificially high. In order to give the impression that the stock sales were arm's length sales by other investors, Kyprianou and Poyiadjis devised a money laundering scheme, employing various entities to hold and sell their Aremis Soft stock. Kyprianou allegedly breached his fiduciary duties in other ways, by converting assets purportedly used to acquire software companies for his own personal benefit, and failing to account to Aremissoft for his insider trading profits. When the truth about the Company was revealed, the value of the stock plummeted, and investors suffered great losses. By May 2001 attention began to be focused on Aremis Soft for reporting inflated income. By May 24, 2001, at least one class action lawsuit against Aremis Soft and its directors had been filed. On July 31, 2001, the, Company was delisted from NASDAQ.

Aremis Soft Corporation ("Aremis Soft" or "the Company") was a software company, incorporated in Delaware in 1997, that purported to develop, market, implement, and support software applications for mid-sized corporations in the manufacturing, healthcare, hospitality and construction industries.

Much of the following account is drawn from the complaint, whose well-pleaded factual allegations are taken as true on this motion.

It is considered to be an extraordinary order whereas the general rule is that there should be no execution before judgment.