Alexander Angueira Statement and Letter to Law Debenture Trust Corp Noticing Law Suit Filed Against Them and Elektrim on June 1, 2007.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Statement by Alexander Angueira, Attorney for Vivendi Holdings 1 Corp., Assignee assignee (assign) n. a person to whom property is transferred by sale or gift, particularly real property. (See: assign) ASSIGNEE. One to whom an assignment has been made. 2. of Claims Held by Elektrim Bondholders, Regarding Lawsuit Filed on June 1, 2007, for Breach of Fiduciary Duty and Breach of Contract against Law Debenture Trust Corporation, Plc (U.K.)and for Fraud and Breach of Contract against Elektrim S.A.: (SEE TEXT OF LETTER BELOW) Alexander Angueira, of the firm of Stearns Weaver Miller Wiessler Alhadeff & Sitterson, P.A., Miami Florida (305-789-3240), attorney for Vivendi Holdings 1 Corp, issued the following statement: On Friday, June 1, 2007, on behalf of my client, Vivendi Holdings 1 Corp., as the assignee of claims held by Elektrim Bondholders, including General Motors Corp., I filed a lawsuit against Law Debenture Trust Corporation (LDTC LDTC Learning Disabilities Teacher Consultant LDTC London Day Training College (UK) LDTC Long Distance Telephone Call LDTC Lancashire Digital Technology Centre (UK) LDTC Large District Transportation Council ) and Elektrim S.A., Defendants in United States District Court for the Southern District of Florida The United States District Court for the Southern District of Florida (S.D.Fl.) is the federal district court covering the southern part of the state of Florida. The court's jurisdiction comprises the following counties: Broward, Dade, Highlands, Indian River, Martin, Monroe, . (Case No. 07-21431, CIV-KING). Attached is a letter I sent on Sunday, June 3, to representatives of Law Debenture Trust Corp., notifying it of the lawsuit and demanding that it maintain the status quo [Latin, The existing state of things at any given date.] Status quo ante bellum means the state of things before the war. The status quo to be preserved by a preliminary injunction is the last actual, peaceable, uncontested status which preceded the pending controversy. and not release any funds that it received from either Elektrim or Deutsche Telekom that relate to the unlawful transfer from Elektrim to Deutsche Telekom of shares of Polska Telfonia Cyfrowa Sp. z o.o. ("PTC (PTC, Needham, MA, www.ptc.com) Long a world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. "). Any release could further prejudice to the Bondholders' rights to recover the value of an equity kicker Equity kicker Stock warrants issued attached to a new debt, preferred or common stock issue to improve the salability of the issue. equity kicker that was added to the bond instruments by a Restructuring Agreement. As set forth in the Complaint, the Law Debenture Trust Corporation breached both its fiduciary duty and its contractual obligations when it withdrew its bankruptcy petition against Elektrim SA while in the possession of material information that it did not disclose to General Motors or its financial advisor, Everest Capital Ltd. If that information had been disclosed, both General Motors and Everest Capital would not have supported withdrawal of the bankruptcy petition, and General Motors and Everest Capital would have retained the right to recapture assets that Elektrim had fraudulently transferred, including shares of Polska Telfonia Cyfrowa Sp. z o.o. ("PTC") that were illegally transferred to Deutsche Telekom. [TABLE OMITTED] |
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