ABA, Newman and Tinkham Face Judgment Enforcement
August 16, 2009 - Premier Basketball League (PBL) News Release
CHICAGO: After years of dodge and delay, the American Basketball Association (ABA) and its principal owners, Joseph Newman and Richard D Tinkham, Jr., will be called to account and required to pay the piper. In this case, the "piper" is the ABA Judgment Enforcement Company, LLC (ABA Judgment Enforcement Company). Effective immediately, the rights to enforce a judgment (Judgment) for accounting entered in Marion County, Indiana Circuit Court) have been assigned to ABA Judgment Enforcement Company, an entity controlled by Premier Basketball League, Inc. (PBL). ABA Judgment Enforcement Company has instructed its attorneys to aggressively enforce its rights and remedies under the Judgment against the ABA, Joseph Newman and Richard D. Tinkham, Jr., and all others acting in concert with them.
The Judgment was entered in July 2007, declaring that ABA, Newman and Tinkham violated the law and the terms of their ownership agreement, causing damage. They are required to account to the owners of the judgment for all funds received by the ABA since August 2005, the date of their wrongful conversion, and the ABA, Newman and Tinkham are required to hold in trust any profit or benefit derived since that date.
Although ABA Judgment Enforcement Company will not disclose the full scope of its enforcement strategy, its attorneys do intend to require all ABA team owners who have paid funds or hereafter pay funds of any sort to the ABA, Newman or Tinkham after their unlawful conversion in August 2005, to produce bank records and other documents and to personally testify in the enforcement proceeding. A trial on damages is scheduled for January 2010 in Indianapolis, Indiana.
Premier Basketball League Stories from August 16, 2009
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