Friday, May 25, 2012


The Federal Bankruptcy Judge presiding over the civil suit against Atlantic Rim Funding Corp. and Dean Kennedy, for the return of their missing six-figure escrow deposit, has entered an Order regarding the entry of a Default Judgment against these defendants.

Both Atlantic Rim Funding and its reputed president, Dean Kennedy, had Defaults entered against them on 3 May. Remember, these defendants have blatantly ignored court orders to make discovery, produce documents, and appear for deposition. Atlantic Rim never retained counsel, nor did it respond to the Complaint. When does a company that claims it has access to $13bn in assets not get a lawyer when it is sued ? Not when it is a fraud and a thief of supposedly escrowed funds.

Also, neither defendant has applied to set aside the defaults entered, which is extremely unusual, as neither can file any pleadings until the defaults are lifted. Readers may remember that the Court set aside defaults once before, and these defendants still failed to file anything in their defence. They have no respect for the rule of law.

Here's the text of the Court Order, entered on 24 May by US Bankruptcy Judge Eric Frank. It sounds like he has had enough of the defendants' utter contempt for the law:

" It is hereby ORDERED that:

1. NOTICE IS HEREBY GIVEN to Defendants Dean Kennedy ("Kennedy") and Atlantic Rim Funding Corp. ("Atlantic Rim") that a hearing will be held on June 13, 2012... to consider WHETHER A DEFAULT JUDGMENT SHOULD BE ENTERED against Kennedy and Atlantic Rim for the amount requested in the Plaintiff's Complaint (and attorney's fees) as a SANCTION for said Defendants' failure to provide discovery to the Plaintiff as required by the rules of the court and the orders of this court. "

Please note that the CAPS and BOLD PRINT you see appeared in the Order the judge entered. I have not added any emphasis, or altered the text. The language of the order speaks for itself.

If there is anyone out there who still believes in Atlantic Rim Funding's promises, this should serve as a wake-up call. There will be no happy endings for the unfortunate individuals who gave Atlantic Rim Funding "escrowed" funds, awaiting funding that will never come.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.