Oceanpointe & Bert Whalen "rents stolen by Defendants" judgement

Oceanpointe & Bert Whalen "rents stolen by Defendants" judgement

Managing Broker / Investor · Indianapolis, IN · Member since 2015 · 350 posts · 362 votes

"Defendants failed to appear"; Judgment for $554,511 against Oceanpointe & Bert Whalen jointly and severally. 
Looks like they may have thrown in the towel on the civil cases.

From the final judgment order:

"IT IS FURTHER ORDERED, ADJUDGED AND DECREED that Plaintiffs have sufficiently proved the amount of their damages against Defendants in the amount of $554,511.32, which is comprised of the following recoverable damages: a. $116,826.00 in work that Defendants failed to complete; b. $67,235.32 in additional fines and costs incurred by Plaintiffs; c. $102,000.00 value of time and additional housing costs incurred by Plaintiffs to remedy Defendants’ misconduct; d. $64,450.00, which is the trebled value of rents stolen by Defendants; e. $102,000.00 in lost rental income; and f. Over $103,000.00 in attorney fees incurred in prosecuting this action and clearing title to the various properties.

IT IS FURTHER ORDERED, ADJUDGED AND DECREED that final judgment is hereby entered against Defendants Oceanpointe Investments LTD and Bert Whalen, jointly and severally, and in favor of Plaintiffs Bariy Investments, LLC and First Indy Investments, LLC, in the amount of $554,511.32 plus post-judgment interest at the rate of eight percent (8%) per annum, costs of collection, and post-judgment attorney fees."

LINK TO THE CASE INFORMATION AND HISTORY

Hope someone can figure out how to collect this.

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Property Management · Indianapolis, IN · Member since 2015 · 111 posts · 94 votes
7y

Bankruptcy is what will happen next.  Nobody is likely ever going to collect a dime.  I'm not sure how they pursue Morris but his assets are likely no longer in the US.  

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    7y

    I wonder how all of this will play out with Morris Invest...

    Skyline Properties
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  • Property Management · Indianapolis, IN · Member since 2015 · 111 posts · 94 votes
    7y

    Bankruptcy is what will happen next.  Nobody is likely ever going to collect a dime.  I'm not sure how they pursue Morris but his assets are likely no longer in the US.  

  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    7y

    Morris bails to another country and probably took millions with him but how does bankruptcy stop Oceanpointe/ Bert Whalen from never paying out?

  • Property Management · Indianapolis, IN · Member since 2015 · 111 posts · 94 votes
    7y

    @Jaron Walling I'm not an attorney but I have witnessed many judgments being dismissed in BK court or at best being settled for pennies.  If they determine he/OP has assets then the judgment holder gets in line with other creditors.  Liquidation of those assets (if they are all just more run down houses) is going to bring pennies.  I assume somebody will need to dig real hard to find where and who has all the money.  That is when this gets interesting. 

    There are times though you fight for the principle of the matter and it looks like, in this case, they have done so.  

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