An update to the ongoing suit between 333 Bush Associates NF L.P., Heller’s San Francisco landlord and Heller Ehrman:
On Friday, December 19, 2008, 333 Bush filed an Order for Writ of Attachment with a hearing on such order taking place today, December 22.
The amount is now down to $48,025,767 according to the filing and on page 2 it states that Defendant Heller Ehrman shall “transfer to levying officer possession of . . .” , among other things, “Any and all cash deposits, accounts receivable, furniture, fixtures, and equipment held by Defendant or its agents, assigns, liquidation committees, affiliated entities, or creditors.”
In addition, in an attachment to the writ, Plaintiff 333 Bush states that the Order for Issuance of Writ of Attachment does not affect:
“1. payments made on debt owed as of the date of the Order to Bank America; and
2. funds as required not to exceed $573,000 every two weeks for winding up operations of Heller LLP.”
And 333 Bush has filed a $10,000 surety bond as is typical in this type of case.
I have questions as to this latest action, namely:
– there is no mention of Citibank, N.A. in the filings. Does this mean that the Citibank loans are paid off and the Dissolution Committee is on the hook only to Bank of America as of today?
– and does this place 333 Bush’s claims as priority before those of Heller employees that are still owed accrued vacation, WARN Act monies and other wages?