Item 8.01 Other Events.
On September 23, 2021, the United States District Court for the Eastern District
of Louisiana (the "Louisiana Court") under Civil Action No. 2:17-cv-819-B(3)
(the "Litigation") granted the defendants' motion to enforce the settlement
agreement entered into between the Company and the defendants, Daniel J.
Schreiber and the Daniel J. Schreiber Living Trust - Dtd 2/08/95. The Louisiana
Court ordered the Company to pay the defendants the amount of $101,490.27,
representing its calculation of contractual interest in the amount of 18% of the
outstanding principal balance of the two promissory notes issued pursuant to the
settlement agreement until paid, plus certain reasonable attorneys' fees and
costs incurred.
The defendant trust has since filed a motion for attorneys' fees and costs
seeking an additional $81,189.64 in attorneys' fees. The Company has filed an
opposition to that motion, which is still pending.
The Company believes the Louisiana Court's ruling was in error. On October 15,
2021, the Company filed a Motion for Reconsideration asking the Louisiana Court
to reconsider its ruling. On November 4, 2021, the Company filed a consent
Motion to Stay Execution of the Louisiana Court's judgment pending either
resolution of that motion, settlement between the parties, or if neither of
those avenues prevails, appeal to the United States Fifth Circuit of Appeals. On
November 12, 2021, the Louisiana Court granted the Company's Motion to Stay
Execution of its judgment provided the Company posted a supersedeas bond in the
amount of $121,804.44. On November 17, 2021, the Company posted the supersedeas
bond in that amount from available working capital to stay the enforcement of
the Louisiana Court's judgment pursuant to the Louisiana Court's order.
© Edgar Online, source Glimpses
REDHAWK HOLDINGS CORP. 
