Litigation

National Investors Financial, Inc.

Class-Action Lawsuit Dissolution Receiver

Situation:

  • 5,200 elderly investors
  • $110 million in total investment
  • Management pursuing own agenda

Goals:

  • Settle with management
  • Sell land and sue aiding professionals
  • Maximize recovery for investors

Results:

  • Projects sold for $15 million
  • Litigation settled for $15 million
  • 15% to 20% recovery for investors

Mosier & Company, Inc.

Metacor Pension & Profit Sharing Plan

Independent Fiduciary Federal Court Regulatory Action

Situation:

  • Pension plan cash used to pay operation’s bills
  • Department of Labor sues the fiduciaries
  • Settlement to be implemented

Goals:

  • Recover assets: several sources
  • Initiate litigation for added recovery
  • Maximize recovery: plan participants

Results:

  • Assets recovered pursuant to plan
  • Insurance litigation pursued and settled
  • Plan Participants received 49.9% net

Mosier & Company, Inc.

(Ownership Dispute/Litigation)

Court-Appointed Provisional Director (Ownership Dispute/Litigation) $7,000,000 Sound System Manufacturer

Situation: Six years ago at the formation of this manufacturing company, the owners never finalized key incorporating documents. A dispute later arose over ownership (the documents showed the minority owner had 0.5%; the minority owner argued that he owned 50% to 60%). Litigation ensued. Robert P. Mosier was appointed Provisional Director. Results>: The Provisional Director stabilized management, and sought instruction from the Court to remove the company from the litigation. After a 3-week trial, the Court awarded 75% of the ownership to the minority owner. Duration: 1 year. Orange County Superior Court Judge Ronald C. Kline. Nick Yocca and Mark Skaist, of Stradling Yocca, Carlson & Rauth, Counsel for the Provisional Director.

“A key issue raised by Mosier was whether the company should be involved in the shareholder dispute. We recommended and the Court agreed, to resolve the ownership dispute first, then address any shareholder derivative actions.”

Mark Skaist, Esquire Stradling, Yocca, Carlson & Rauth Counsel for the Provisional Director

Receiver: Turnaround

(Manage and Defend Litigation)

Agent for the Defendant (Manage and Defend Litigation) $48,000,000 Office Building Mortgage and Lease

Situation: The owners/tenants of two 200,000 sq. ft. office towers in LA wanted to sue themselves to void their leases. The reason was hidden earthquake damage called ‘moment fracture’ with a projected repair cost of $20 million. Robert P. Mosier was retained as the landlord/agent to defend the leases. This unusual action, wherein the tenants of the buildings were suing themselves as owners, was upheld by District Court. Results: After a month-long trial, the Judge ruled conclusively in favor of the landlord/agent thereby sustaining the leases. Duration: 10 Months. JAMS Ret. Superior Court Judge Leon Savitch. Anthony Oliva, Esq. and David Zaro, of Allen Matkins, Leck, Gamble & Mallory, LLP. for the Landlord/Agent. Project Coordinator: Craig M. Collins

“Mosier & Company did an impressive job of helping us set the litigation strategy and providing a thorough economic analysis of the leases. The combination of business insight with strong legal argument brought about a decisive victory.”

Tony Oliva Esquire Allen, Malkins, Leck, Gamble & Mallory LLP Counsel for the Landlord/Agen

Consultant