Patterson on the line: Watchtower claims that paying cash bond would cause “immediate irreparable harm and hardship”

by cedars 339 Replies latest watchtower child-abuse

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  Slidin Fast

  My view is that:

  1. WTS is an organisation that is asset rich.

  2. My experience is that huge corporations can fail because allthough they have massive worth, cashflow starves them.

  3. If putting up real estate is simply a legal strategy, why put up the crown jewels? It would seem more logical to look at the portfolio and put up something less central to the throbbing heart of the operation.

  If this relatively small hump in the road causes such a swerve, what of the flood of cases that would follow a successful outcome of the Conti case. I think Cedars is on to something.
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  144001

  Correct, Ann, thank you for the further clarification.
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  Scott77

  Mr. Cedars,

  Please, how about the judge ordering a balance sheet of the Watchtower Society as part of discovery to figure out if request to use part of its property is indeed motivated by financial hardship.

  Scott77
• 

  Justitia Themis

  Conti hasn't received a dime from the WTBTS and won't until the eariler of the following: [1] the WTBTS' appeals are exhausted with the outcome in Conti's favor; or [2] a settlement with the WTBTS which would most likely include confidentiality provisions prohibiting her from disclosing any of the details of the settlement to anyone. The irreparable harm is that the WTBTS will have to pay an additional bond premium to the surety company they purchased the bond from, and NOT to Ms. Conti. The WTBTS is seeking to substitute real estate as collateral instead of the cash underlying the bond so that they can avoid paying money for bond premiums to the firm that posted the bond.

  That would depend upon Cali. law. If you're in the Cali. legal field, which I suspect you are, simply state that and clarify for us all. I'm not in Cali.

  From what you're saying (144,001), it sounds like Cali. uses only bonds, yes? In my state, the court clerk accepts money, in a way, the court acts as a bank. Here, the WTBTS could simply give the clerk the cash. I can see, considering its size, why Cali. wouldn't want its courts acting as banks, but it sucks that judgment debtors are required to buy a bond when they have cash on hand. If they require a bond O'Malley, then what 144,001 says is probably correct. And I think 144,001 is in Cali. and therefore more familiar with Cali. state law.
• 

  Finkelstein

  Its all a tricky ploy to make it look like the WTS is cash strapped, what most likely will happen next is the WTS. lawyers will ask for a reduction

  of the total initial judgment. Whether the court will buy into this ploy is a toss up.

  What I would like to see happen is the court issuing a disclosing financial assessment on to the WTS., then everyone would finally know how much

  cash the WTS. has on hand. Be rest assured that the WTS. has 17 million on hand cash particularly the main HQs.
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  Satanus

  On the other hand, it would be so cool for that girl to take posession of the wt property. Before she resold it, she could envite all the apostates for a huge party.

  S
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  King Solomon

  Finkelstein and Satanus, you gotta read the thread:

  Cedars misunderstood the legal documents he was "reporting" on, as the WTBTS' ability to pay the judgment never was the issue here (they have more $ than God). The "irreparable harm and hardship" they were referring to was standard legalese referring to the $86k that they'd lose IF they had to get a bond, vs simply using Patterson as security (which is free to them).

  If WTBTS loses on appeal, they could pay CC out of petty cash, etc (the court documents which Cedars posted clearly say the WTBTS has plenty of resources to pay), but at least they would've saved $86k by not having to have gotten a bond.
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  Gayle

  what is the value of Patterson WT properties out there in the hills? Could it or would it be hard to sell? Or, would it just be a another long-term problem being dropped on Candice and attorneys to have to try to sell and finalized,,just the free labor JWs getting pulled real quick out of that property would be a headache to upkeep.
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  Tylinbrando

  Why doesn't Watchtower front the Bond with their own cash? Why use a bondsman? Why leverage or offer property when they have billions of cash on hand? If cash never touches Candace's hands until the end as claimed about, why all the posturing by the WBTS?
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  Satanus

  Ok, ks. I'm not following all of the details. I hope candace gets well treated through all of this.

  S