As frequently stated here on FR, I have a LOT of civil litigation experience both as a plaintiff and a defendant.
I have read verbatim the first half of this 66 page lawsuit and reviewed closely the second half of it.
Whether or not the lawsuit will succeed or fail will take time to see. But, here are several points to be aware of.
# 1, the lawsuit seeks judgment against the defendants for as much as 1 billion 500 million for the plaintiffs. # 2, They request that any final judgment in their favor be “joint and several”. Some of you may not know that “joint and several” means any single person or entity that finds themselves owing on this judgment is responsible dollar wise for all of it. Example: An individual with only 1 million dollars in the bank can’t claim “I’m only a small part of this...you can’t take all my money!”
YES, a “joint and several” judgment, strictly enforced, would allow the holder of the judgment to TAKE the full million he HAD in the bank and apply it to the judgment.
#3 to watch out for is that “pre-judgment” and “post judgment interest” COULD BE a part of the judgment. At statutory rates, this amount, on 1,500,000,000 could be as much as or more than the judgment itself because interest could trail back in the past for years at statutory rates (high).
# 4, If “joint and several” is made a part of a judgment awarded, and if “pre judgment” and “post judgment” interest are awarded, AND attorney’s fees, this judgment could be several billion and Mr. Soro’s would be hard pressed to defend himself against that judgment that was in the hands of a guy like Klayman.
I’m not saying ANY of the foregoing is “likely”. I am saying that I hope all interested persons be aware of what COULD happen. Texas Courts are different. Remember the several billion dollar judgment in the Texaco/Pennzoil case.
Thanks for the information! Very interesting indeed!
I’m not a lawyer and I have never stayed at a Holiday Inn.....
But can’t a defendant petition the court to be removed as a defendant?
Say Soros for instance.
He would still have to spend time and resources to be taken off the list.
Whether successful or not I believe this suit, by naming names, plants seeds for later cultivation.
Please correct me if I am wrong.