Ostrich Farm

[William Johnson]

i am from virginia
ostrich farm in florida

i invested 15,000 dollars last year and was told that i would receive 1/3rd return per year. my 1st of 3 payments for this year was due in february, and as of june 21st i have only received 1 check that bounced. i have not received
any payments thus far and continue to get excuses from the ceo for not paying me. the contract he and i signed state that anyone in breach of the contract would be liable and required to pay legal fees of the victim. the ceo admits that he has breached the contract but goes on to say that he will send my payments within days. this has gone on for months and i have not received 1 ligitimate payment.
i asked him to return my 15,000 dollars and he stated that if he cannot make my routine payments, how do i expect him to pay back the 15,000.
please advise me on the steps that i need to take to recover my loses from this investment.

 

[JETX]

You answered your own question when you said that the agreement provides for legal fees to be paid by the person who commits breach.

Talk with an attorney.

 

[Elliotg]

Amen to Mr. Halket.

Does the contract specifically address attorney fees? If so what does it say?

Even if everything goes well with a lawsuit, the defendant may end up being judgment proof (declare bankruptcy, no assets, etc. . . ). No matter what you do, there is a good chance that you can kiss your investment good bye.

You should schedule a formal consultation with a lawyer. A good means of obtaining an attorney referral is by contacting your State's bar association or your local county bar association. They probably have a web site and charge a nominal fee for the referral. Most attorneys either provide a free initial consultation, or charge a nominal fee. If you are located within the Greater Tampa/St. Petersburg area, I would be happy to meet with you.

Your attorney needs to determine if the company/ranch has any assets. He should also look into whether the individual who signed the contract on behalf of the ranch is personally liable. If he is, then the determination needs to be made as to whether he is judgment proof.

Good Luck, Elliot Jay Goldstein (I also maintain a Tampa office)

The above information is provided as a courtesy, without any consideration and without knowledge of the specific facts. Do not rely on this information. Seek a formal consultation with an attorney.