ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

CBYI Cal Bay International Inc New (CE)

0.000001
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Cal Bay International Inc New (CE) USOTC:CBYI OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000001 0.00 01:00:00

Cal-Bay to Challenge Court Decision for Title of Company's Previously Owned $14M West Palm Beach, Florida Property

21/03/2012 3:45pm

Marketwired


Cal Bay (CE) (USOTC:CBYI)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Cal Bay (CE) Charts.

Cal-Bay International, Inc. (PINKSHEETS: CBYI) today announced the company is retaining new council to challenge the Aberdeen, Mississippi court ruling for the title and ownership of Cal-Bay's West Palm Beach, $14M Stonewall Estates Project.

Cal-Bay's interim CEO Larson Coleman today announced new evidence has been uncovered regarding the opposing council's testimony to the courts and representation of clients who were in fact "Straw" corporations. Further evidence uncovered that opposing council in this case was aware of the circumstances and continued to mislead the court by challenging Cal-Bay's title to the property while knowing their clients had a long history of such "Straw" schemes and were in fact under court order not to be affiliated with any type of property holdings or transactions.

Cal-Bay acquired the $14M land parcel in 2005 and held legal title to the property until challenged by the "Straw" corporations after Nationwide Builders "Lennar Homes" made a significant offer for $14M to purchase the property.

Cal-Bay's previous council defended the title and ownership issue through 2009, when the court ruled title to the 'Straw" corporations. The new evidence should allow the ruling to be overturned and the filing of multiple countersuits and malpractice lawsuits.

The company is filing to recover Cal-Bay's previous Investment Interest of the $14M asset.

Cal-Bay's new legal council has requested the company to withhold specific details of the claims until the lawsuits have been filed and service completed.

ABOUT CAL-BAY INTERNATIONAL: Primarily a Residential & Commercial Real-Estate acquisition and development company, Cal-Bay plans to continue the acquisition of distressed and undervalued residential and commercial real estate along with land acquisitions. The land and commercial properties being primarily for use by its own subsidiary companies for the production of "Clean Energy & Power Technologies and Energy Saving Solutions" creating a multi-level revenue center for the company and its Investors. More Information will be available on the company website currently operational and under ongoing development. www.calbayinternational.net

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

Contact: Cal-Bay International, Inc: IR@calbayinternational.net

1 Year Cal Bay (CE) Chart

1 Year Cal Bay (CE) Chart

1 Month Cal Bay (CE) Chart

1 Month Cal Bay (CE) Chart

Your Recent History

Delayed Upgrade Clock