SFBC investigators failed to convince Judge in Boston. Judge denies SFBC request.
Switzerland, Swiss Confederation (Press Release) March 5, 2008 --
[bold]Tradex Swiss AG – Press release[/bold]
On January 23 and February 27, 2008, an evidentiary hearing was held in the United States Bankruptcy Court in Boston, Massachusetts U.S.A. (Chapter 7 Case number 07-17180-RS) on the involuntary petition filed on behalf of petitioning creditors. Judge Rosenthal denied the request made by the liquidators (Lutz & Da Rugna) appointed by the Swiss Federal Banking Commission ("SFBC") to dismiss the U.S. Bankruptcy case. The “Investigators” activities in USA amount to nothing more than wasting the time of the US and Swiss judicial system and US and Swiss taxpayers’ money. The Judge also ruled under Chapter 15 of the Code that Switzerland was NOT the center of main interests of TSAG. Their “investigation” and actions based thereon is thus restricted to TSAG business activities in Switzerland. To further advance this purpose they are attempting to liquidate Swiss Garant AG (SGAG), another Swiss corporation owned by NMJVR, which has never traded and has no assets. It is also abundantly clear that all the accusations made by Lutz & Da Rugna were maliciously fabricated by Lutz & DaRugna in cooperation with the former Board of Directors of TSAG (Ryan Nettles, Beat Knoblauch & Stefan Thut of “Mentor Treuhand” {Mentor Trustees} ) the latter having illegally conspired and misappropriated large sums of money from the TSAG account in Credit Suisse, and perpetrated several other acts of financial fraud. The reports that were submitted to the SFBC and then to the Swiss Federal Court could not prove any wrong doing by TSAG. It merely highlighted the inability and lack of knowledge of the “investigators”, their informers and the SFBC. It is also important to note that LR was appointed not only as “Investigators”, but also company management with total and sole management responsibility, and also as subsequent liquidators of Tradex. This clearly is an extreme conflict of interest, as the mismanagement of the corporation since the start of the investigation has resulted in conditions that could be construed as grounds for a liquidation. NMJVR and TSAG clients suffered severe losses, financial, personal and otherwise, and will now combine their efforts to seek legal relief from the Swiss Courts to recover capital and any losses incurred as a result of the massive injustice brought upon our clients and TSAG shareholders by ALL parties that conspired to destroy TSAG. It was merely ordered in an effort to discredit NMJVR, TSAG and the legal management of TSAG. The reasons might be attributed to jealousy, effort to hide theft, fraud and dishonesty by the Ex Board of Directors of TSAG who suddenly resigned in November 2006 due to “health reasons”.
On January 23 and February 27, 2008, an evidentiary hearing was held in the United States Bankruptcy Court in Boston, Massachusetts U.S.A. (Chapter 7 Case number 07-17180-RS) on the involuntary petition filed on behalf of petitioning creditors. Judge Rosenthal denied the request made by the liquidators (Lutz & Da Rugna) appointed by the Swiss Federal Banking Commission ("SFBC") to dismiss the U.S. Bankruptcy case. The “Investigators” activities in USA amount to nothing more than wasting the time of the US and Swiss judicial system and US and Swiss taxpayers’ money. The Judge also ruled under Chapter 15 of the Code that Switzerland was NOT the center of main interests of TSAG. Their “investigation” and actions based thereon is thus restricted to TSAG business activities in Switzerland. To further advance this purpose they are attempting to liquidate Swiss Garant AG (SGAG), another Swiss corporation owned by NMJVR, which has never traded and has no assets. It is also abundantly clear that all the accusations made by Lutz & Da Rugna were maliciously fabricated by Lutz & DaRugna in cooperation with the former Board of Directors of TSAG (Ryan Nettles, Beat Knoblauch & Stefan Thut of “Mentor Treuhand” {Mentor Trustees} ) the latter having illegally conspired and misappropriated large sums of money from the TSAG account in Credit Suisse, and perpetrated several other acts of financial fraud. The reports that were submitted to the SFBC and then to the Swiss Federal Court could not prove any wrong doing by TSAG. It merely highlighted the inability and lack of knowledge of the “investigators”, their informers and the SFBC. It is also important to note that LR was appointed not only as “Investigators”, but also company management with total and sole management responsibility, and also as subsequent liquidators of Tradex. This clearly is an extreme conflict of interest, as the mismanagement of the corporation since the start of the investigation has resulted in conditions that could be construed as grounds for a liquidation. NMJVR and TSAG clients suffered severe losses, financial, personal and otherwise, and will now combine their efforts to seek legal relief from the Swiss Courts to recover capital and any losses incurred as a result of the massive injustice brought upon our clients and TSAG shareholders by ALL parties that conspired to destroy TSAG. It was merely ordered in an effort to discredit NMJVR, TSAG and the legal management of TSAG. The reasons might be attributed to jealousy, effort to hide theft, fraud and dishonesty by the Ex Board of Directors of TSAG who suddenly resigned in November 2006 due to “health reasons”.
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