Post #317637 by midnite on Tue, Jul 10, 2007 12:26 AM

Oh, the humanity of it! - Mai Kai closing?!?

Umm, come in off the ledge. A complaint is quite a way's from actual foreclosure or closing of the Mai Kai. Not that a hyperbolic headline ever got in the way of getting one's message read, eh?

It's a simple foreclosure suit following a breach of a promissory note. The plaintif/lender has, ostensibly, no other recourse. I don't know all the particulars, but I could hazard a few guesses. However, seeing I am a golfer I try to avoid hazards. That, and the good Lord saw it fit to not force me into a career in Florida Law (Goofy is a resident there for good reason). I will say, the note is apparently destroyed and that makes it interesting but in no manner fatal for the plaintiff. Also somewhwat interesting is Mr. Levy's approach to business/taxes/litigation, but that's for the advanced class.

Notwithstanding Levy's apparent confusion it is rather simple. In essence: valid note, proven breach, security = pay up (through a work-out/re-finance/FMV sale) or see you on the courthouse steps.

Not the best publicity, though. Still, no one's going to jail, Karen.

To making laws and sausage one may add running a tiki landmark,
midnite rests