CTS Has Yet to Receive Court-Ordered $1.8 Million-Plus From Aserca

Share Article

Venezuelan corporation Aserca has yet to pay court judgment now totaling more than $1.8 million.

Commercial Turbine Services Ltd. desires to create a dialog with Aserca to resolve this non-payment issue

As of Jan. 26, 2006, Aero Servicios Carabobo C.A., a Venezuelan corporation (Aserca), has yet to pay Commercial Turbine Services, Ltd., a Nevada corporation (CTS) $1,855,633.89, including post-judgment interest, as ordered by the Los Angeles Superior Court more than two years ago.

On Dec. 2, 2003, the Los Angeles Superior Court entered default judgment against defendant Aserca in the sum of $1,431,060.40, together with interest of $92,775.43 from Jan. 8, 2003, attorney’s fees in the sum or $2,780.00 and costs of $224.50.

"Commercial Turbine Services Ltd. desires to create a dialog with Aserca to resolve this non-payment issue,” says Jack Ferguson, Commercial Turbine Services Ltd. president. “Further legal action in not in our best interests, but this issue will not go away simply because Aserca fails to communicate."

The judgment arises out of Aserca’s breach of three separate engine lease agreements with CTS. The case is “Commercial Turbine Services Ltd., a Nevada corporation v. Aero Servicios Carabobo C.A., a Venezuelan corporation, et al.,” Los Angeles Superior Court Case No. BC292066.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Visit website