Oct 26, 2011

Whoops He Did It Again

A while back, FH Partners loaned YTB a lot of money through the assumption of the mortgage when their bank failed. YTB defaulted on the loan several times and ultimately was able to sell the K-Mart/World Headquarters to pay off FH Partners.

But, they filed suit against CCMP as well for non-payment of some additional loans. CCMP is the little private company that is owned by Coach Tomer,  and Kim Sorensen. It is the same one that built the $8million dollar Statue of Liberty and has been used as a means to funnel some money from YTB (a publicly traded company) to a private entity controlled by the founders.  You can read about the $604,000 that the Sorensen and the Tomers failed to pay here.

Now the loyalists will say that it is all a misunderstanding. But apparently a COURT OF LAW feels otherwise. Just last week, a judgement was entered against Tomer, Sorensen and CCMP for more than $818,000.


JUDGMENT ENTERED IN FAVOR OF PLTF FH PARTNERS LLC AS FOLLOWS: AGAINST CCMP INC IN THE TOTAL JUDGMENT OF $439,427.31; AGAINST JAMES L. TOMER AND J KIM SORENSEN IN THE TOTAL JUDGMENT OF $379,237.95.

And in yet ANOTHER suit, FH Partners just won a judgement against Great River Enterprises. But this is just peanuts--$67,000:

Amt $50000.01, Plaintiff FH PARTNERS LLC , Defendant GREAT RIVER ENTERPRISES LP#1 , JUDGMENT IS HEREBY ENTERED IN FAVOR OF PLTF FOR A TOTAL JUDGMENT OF $67,014.55. INTEREST WILL CONTINUE TO ACCRUE AT THE STATUTORY RATE OF 9% PER YEAR UNTIL THE JUDGMENT IS PAID IN FULL.
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