LAWSUITS NEWS & LEGAL INFORMATION
Hawaii Condo
Long Beach, CA: (May-21-08) Bankruptcy trustee Howard Ehrenberg, who represents the estate of Queen's Seaport Development Inc. (QSDI), a company operated by Joseph Prevratil, brought a lawsuit against him, alleging that Prevratil engaged in fraud, which resulted in the downward spiral of the company. The February 2008 lawsuit alleged that Prevratil and his business partner, Howard Bell, fraudulently transferred more than $1.5 million from QSDI and used company assets to buy a condo in Honolulu. The condo is now worth $1 million as per expert's estimations. Following the fraud and resulting financial losses, the company declared Chapter 11 bankruptcy in 2005.
As part of a recent development in the suit, officials stated that the former Queen Mary operator Joseph Prevratil has agreed to sell the $1 million condominium in Hawaii, to resolve the allegations against him. The deal would serve to undercut a previous agreement that promised to give the city of Long Beach the right to pursue the lawsuit and recover 50% of the damages from Prevratil and his company, Leisure Horizons Inc. [LONG BEACH PRESS-TELEGRAM: TRUSTEE TO SETTLE QSDI SUIT]
Published on May-25-08
As part of a recent development in the suit, officials stated that the former Queen Mary operator Joseph Prevratil has agreed to sell the $1 million condominium in Hawaii, to resolve the allegations against him. The deal would serve to undercut a previous agreement that promised to give the city of Long Beach the right to pursue the lawsuit and recover 50% of the damages from Prevratil and his company, Leisure Horizons Inc. [
Legal Help
If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.Published on May-25-08
