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IN RE COPPER KING MINING CORPORATION, 12-02210. (2013)

Court: United States Bankruptcy Court, D. Utah Number: inbco20130301592 Visitors: 18
Filed: Mar. 01, 2013
Latest Update: Mar. 01, 2013
Summary: DEFAULT JUDGMENT WILLIAM T. THURMAN, Chief Bankruptcy Judge. The Court, having reviewed the Motion for Entry of Default Judgment Against Defendants Alexander Lindale, LLC, Wilford R. Blum and Stephen G. Bennett ("Motion") filed by Plaintiff Copper King Mining Corporation ("Plaintiff"), does hereby find that: A. Defendants Alexander Lindale, LLC, a Minnesota limited liability company, Wilford R. Blum, an individual, and Stephen G. Bennett, an individual ("Defendants") were served with the Sum
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DEFAULT JUDGMENT

WILLIAM T. THURMAN, Chief Bankruptcy Judge.

The Court, having reviewed the Motion for Entry of Default Judgment Against Defendants Alexander Lindale, LLC, Wilford R. Blum and Stephen G. Bennett ("Motion") filed by Plaintiff Copper King Mining Corporation ("Plaintiff"), does hereby find that:

A. Defendants Alexander Lindale, LLC, a Minnesota limited liability company, Wilford R. Blum, an individual, and Stephen G. Bennett, an individual ("Defendants") were served with the Summons and Complaint ("Complaint") in this action in compliance with Rule 4 of the Federal Rules of Civil Procedure made applicable herein through Rule 7004 of the Federal Rules of Bankruptcy Procedure.

B. Defendants have failed to appear, answer or otherwise defend in this adversary proceeding, and the time allowed by law for doing so has passed.

Based on the foregoing facts, the Motion, the Clerk's Certificate of Default, the Declaration of Christopher Grivakes, and the Court being fully informed and good cause appearing,

IT IS HEREBY ORDERED that:

1. The Motion is granted.

2. The "Fraudulent Obligations" and "Fraudulent Stock Transfers" as identified in the Complaint are each a fraudulent transfer within the meaning of 11 U.S.C. § 548(a)(1)(B) and 544(b), and Utah Code Ann. §§ 25-6-5(1)(b), 25-6-6(1), and 25-6-6(2). Each of these fraudulent transfers are recoverable under 11 U.S.C. § 550.

3. Judgment is granted against the Defendants, jointly and severally, in the amount of $12,993,430, plus interest at the legal rate from and after May 18, 2013, until paid in full.

4. The proofs of claims of the Defendants filed against the bankruptcy estates of the Plaintiffs, if any, are disallowed under 11 U.S.C. § 502(d) until such time as all amounts awarded under this judgment are paid in full.

5. This judgment shall be augmented by attorneys' fees and costs incurred by the Plaintiffs in the collection and enforcement of this judgment, with such amounts to be established by declaration.

IT IS SO ORDERED.

Source:  Leagle

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