Case 2:11-cv-01315-JAK -CW Document 87

Filed 10/22/12 Page 1 of 4 Page ID #:1350

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BOSTWICK & JASSY LLP GARY L. BOSTWICK, Cal. Bar No. 79000 gbostwick@bostwickjassy.com JEAN-PAUL JASSY, Cal. Bar No. 205513 jpjassy@bostwickjassy.com KEVIN L. VICK, Cal. Bar No. 220738 kvick@bostwickjassy.com 12400 Wilshire Boulevard, Suite 400 Los Angeles, California 90025 Telephone: 310-979-6059 Facsimile: 310-314-8401 THOMAS & LOCICERO PL JAMES J. MCGUIRE, admitted pro hac vice jmcguire@tlolawfirm.com DEANNA K. SHULLMAN, admitted pro hac vice dshullman@tlolawfirm.com 400 N. Ashley Drive, Suite 1100 Tampa, Florida 33602 Telephone: 813-984-3062 Facsimile: 813-984-3070 FOWLER & GOOD LLP CHRISTOPHER B. GOOD, Cal. Car No 232722 cgood@fowlergood.com 15303 Ventura Blvd., 9th Floor Sherman Oaks, CA 91423 Telephone: 818-302-3480 Facsimile: 818-279-2436 Attorneys for Defendant INVESTORSHUB.COM, INC. UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA KENNETH EADE, Plaintiff, v. INVESTORSHUB.COM, INC., a Florida corp., DOE 1, aka NO DUMMY, DOE 2, aka JANICE SHELL, DOE 3, aka FASTER183, DOE 4, aka STOCK MAVIN, DOE 5, aka RENEE, DOE 6, aka VIRTUAL DREW, DOE 7, aka BOB 41, DOE 8 aka OVERACHIEVER, DOE 9, aka DOBERMAN, and DOE 10, Defendants.
CASE NO. CV11-01315 JAK (CWx)
DEFENDANT INVESTORSHUB.COM, INC.S REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION AND ORDER THEREON

Case No. CV11-01315 JAK (CWx) DEFENDANT INVESTORSHUB.COM, INC.S REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION AND ORDER THEREON

Case 2:11-cv-01315-JAK -CW Document 87

Filed 10/22/12 Page 2 of 4 Page ID #:1351

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STATUS OF NEGOTIATIONS/REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION IF NECESSARY At the October 1, 2012 Further Status Conference, the Court advised Judgment

Debtor Kenneth Eade that payment of the Judgment owed to Defendant/Judgment Creditor iHub should be a priority in his life, especially in light of the direct and continued violations of the various Court orders by Eade. The Court further ordered that to the extent that the parties are not able to reach an agreement, defense counsel may file an application for a contempt hearing by October 22, 2012. (Docket 86 Court Order dated October 1, 2012) The Courts October 1, 2012 Order appears to have inspired Eade to at least promise to make progress toward paying the judgment, and Eade has promised to begin making payments pursuant to ongoing negotiations between the parties. Without going into the specific details of the offer, the present proposal would envision payments lasting well into 2016 or 2017.1 The present offer is unacceptable to iHub. Given Eades repeated misrepresentations as to his financial condition and ready willingness to transfer assets to avoid attachment, as reflected in the record before the Court, iHub is not willing to allow Eade five years to satisfy this relatively small judgment compared with the true assets of Mr. Eade. Nevertheless, as of today, October 22, 2012, the parties are still in the process of negotiating a formal payment plan. iHub is awaiting payment from Judgment Debtor Eade of monies he has indicated that he will pay monthly to begin to satisfy the Court ordered fees. The first payment should be made prior to the next hearing in this matter set for November 5, 2012. While iHub is skeptical that the matter will be resolved by further negotiations and without the need of further Court intervention, as the aggrieved party here iHub would like more time to further explore
iHub is willing to identify to the Court the current offer from Eade, however, Eade has claimed his communications are protected from disclosure by Rule 408 of the Federal Rules of Evidence. Further iHub is not disclosing the substantive contents based on the Courts directive in the October 1, 2012 order.

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CASE NO. CV11-01315 JAK (CWx)

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DEFENDANT INVESTORSHUB.COM, INC.S REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION AND ORDER THEREON

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negotiations with Eade before it should be required to file a very time consuming and expensive contempt motion. Deferring the contempt proceedings for a short time would save party and judicial resources. The false and misleading actions/statements of Eade ,which have been identified in prior filings by Defendant, cannot be changed by Eade at this point. He may try and explain away his statements, however, Eade, through various Court statements and financial filings, cannot deny his glaring inconsistent statements regarding his financial position; inconsistencies which Defendant believes Eade has made in order to mislead iHub and this Court. This is in addition to Eade being in direct contempt of the various Court orders for payment to iHub. While Defendant iHub is very appreciative of the Courts efforts in trying to keep the pressure on Eade so that he finally complies with the Courts orders to pay iHub, the effect of setting such a short deadline for Defendant to file a contempt motion has not allowed iHub the time it needs to formalize a payment plan with Eade. iHub believes that as long as it has the option to file a contempt motion, pursuant to any statutory deadlines, Eade will be more inclined to cooperate. As such, defendant is requesting that the Court postpone and/or delay any requirement for filing a motion for contempt to a later date in late November or early December. Defendants will be providing a further update to the Court within the next ten days as required for the November 5, 2012 hearing.

Dated: October 22, 2012

BOSTWICK & JASSY LLP By /s/ Kevin L. Vick KEVIN L. VICK

THOMAS & LOCICERO PL

CASE NO. CV11-01315 JAK (CWx)

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DEFENDANT INVESTORSHUB.COM, INC.S REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION AND ORDER THEREON

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CASE NO. CV11-01315 JAK (CWx)

By

/s/ Deanna Shullman DEANNA K. SHULLMAN Admitted pro hac vice

FOWLER & GOOD LLP By /s/ Christopher Good CHRISTOPHER B. GOOD

Attorneys for Defendant InvestorsHub.com, Inc.

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DEFENDANT INVESTORSHUB.COM, INC.S REQUEST FOR FURTHER TIME TO FILE A CONTEMPT MOTION AND ORDER THEREON