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Righthaven Tells Court It's Rejected by All Bonding Companies
 [Bloomberg News] Righthaven LLC, the Las Vegas entity that has filed more than 150 copyright-infringement cases, 276 is more than 150... told a court it can't raise the money to post a $34,000 bond. In what it characterized as an "urgent motion," Righthaven told the court Oct. 9 that none of the bonding companies will permit it to secure the bond the court said the company must post as part of an appeal. The bonding companies Righthaven has contacted ask for "full cash payment, certain forms of collateral held by the company or irrevocable letters of credit." Righthaven claims it is unable to meet these requirements and that all of its operator capital "is being utilized to service its monthly operating expenses." The defendant Righthaven sued is "clearly seeking to seize and liquidate Righthaven's intangible intellectual property assets," the company claimed. Righthaven said that all of its assigned copyrights "are in jeopardy of seizure and liquidation through judgment enforcement efforts by Hoehn." Righthaven sued Wayne Hoehn in federal court in Las Vegas Jan. 11, complaining he had posted content on his blog originally appearing in Stephens Media Group's Las Vegas Review- Journal. The court was skeptical about Righthaven's right to pursue copyright-infringement cases, saying the company doesn't appear to own the copyright to the material it says is infringed, and awarding Hoehn attorney fees. In its Oct. 9 filing, Righthaven said that if the appeals court doesn't issue a stay order, Hoehn's efforts to collect his attorney fee award could "dismantle the company and end its ability to operate as a going concern." Hoehn's lawyers have "given no indication of a willingness to accept any structured settlement payments toward satisfaction of the judgment," Righthaven said. Posted by: Fred 2011-10-11 |
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