Recent court filings show that now-bankrupt AHRMA has spent $877,571.24 in continuing litigation involving Team Obsolete/Rob Iannucci and several Team Obsolete riders who were blocked from participating in AHRMA events on machines owned or sponsored by Team Obsolete or on machines even displaying Team Obsolete stickers. The same filings show that AHRMA estimates that it would need another $300,000 in legal fees to prepare for trial on the case, with no estimate of the cost of the trial itself. And AHRMA’s bankruptcy filing shows that the organization owes its trial lawyers $151,000, its lead attorney Ted Bendelow $20,528.47, its litigation specialist Jeff Smith $10,000 and its treasurer Fred Mork $10,000. AHRMA’s liabilities total $207,112.72 and its assets total $83,262.98 according to the bankruptcy filing. While AHRMA has not posted its actual bankruptcy filing on the official AHRMA website, the filing can be seen in its entirety on the Team Obsolete website, here: ~http://teamobsoleteforum.com/AHRMABankruptcyFiling.pdf~ Sources close to Iannucci said yesterday that Iannucci’s litigation plans include pursuing each Officer and Trustee of AHRMA as an individual due to a lapse in AHRMA’s corporate status during part of the long-running dispute. Read more here: ~http://teamobsoleteforum.com/index.php?PHPSESSID=4f236841a4decc32bffbd36643ffa2a7&topic=52.0~ ~http://teamobsoleteforum.com/index.php?PHPSESSID=4f236841a4decc32bffbd36643ffa2a7&topic=70.0~ ~http://www.ahrma.org/whatsnew.htm~
Updated With Links: AHRMA Admits Spending $877,571.24 On Legal Battle With Expelled Founder Rob Iannucci
Updated With Links: AHRMA Admits Spending $877,571.24 On Legal Battle With Expelled Founder Rob Iannucci
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