Free Motion to Reopen Case - District Court of Delaware - Delaware

Case 1:04-cv-00869-KAJ

Document 49-5

Filed 01/18/2006

Page 1 of 2
FIRM and AFFILIATE OFFICES
NEW YORK LONDON LOS ANGELES CHICAGO

JAMES L. BEAUSOLEIL, JR. DIRECT DIAL: 215.979.1 120 E-MAIL: [email protected]

HOUSTON PHILADELPHIA SAN DIEGO SAN FRANCISCO BOSTON WASHINGTON, DC LAS VEGAS ATLANTA MIAMI PITTSBURGH

January 6,2006 VIA FACSIMILE Kevin C. Boyle, Esquire Law Offices of Kevin C. Boyle Suite 105 4766 Park Granada Boulevard Calabasas, CA 91302
Re: Money Centers of America, Inc. and Howard Regen

NEWARK
ALLENTOWN WILMINGTON HARRISBURG PRINCETON LAKE TAHOE

Dear Mr. Boyle: This is to advise you that despite the representations made in your January 4,2005 letter, Money Centers of America, Inc. ("MCA") has not received any money fiom Mr. Regen via wire or otherwise. This is not the first time your client has played this game and each time he does so, MCA incurs additional legal expenses which it fully intends to recover from Mr. Regen. In light of Mr. Regen's failure to make good on his most recent promise, we will not cancel the depositions scheduled by agreement for January 11,2006. Please contact me immediately to make arrangements for the payment of our travel expenses and the court reporter expenses by Mr. Regen. You have also requested that MCA return the life insurance policy based on your incorrect assumption that Mr. Regen's payment of outstanding fees would be made and that the late payment of the outstanding amounts would fulfill all of Mr. Regen's obligations to MCA. Neither assumption is correct. MCA will not return the life insurance policy unless Mr. Regen immediately sends MCA the payments required by paragraphs 5(a), 5(b), 6(a) and 6(b) of the Settlement Agreement, interest on all amounts past due (including interest on the first payment from the date that the first payment was initially due), and reimburses MCA for its attorneys fees and legal expenses as is required by December 6,2005 order.' You should be aware that the life insurance policy has a cash value of approximately two thousand six hundred dollars ($2600.00) at this time. The current quarterly payment of eleven

' This offer is made for settlement purposes only and may be withdrawn by MCA at its sole discretion at any time .
30 SOUTH 17TH STREET PHILADELPHIA, PA 19103-4196 PHONE: 215.979.1000 FAX: 215.979.1020

Case 1:04-cv-00869-KAJ

Document 49-5

Filed 01/18/2006

Page 2 of 2

Kevin C. Boyle, Esquire January 6,2006 Page 2

thousand seven hundred thirty six dollars and thirty five cents ($1 1,736.35) was due on December 25,2005. If Mr. Regen or Mr. Freshman do not make the December 25,2005 quarterly payment (thereby bringing the policy current) by January 13,2006, with immediate and simultaneous written notice and proof of payment to MCA, MCA will surrender the policy for the remaining cash value on or before January 20,2006 and use that money to offset amounts due MCA pursuant to paragraph 14 of the Settlement ~ g r e e m e n t . ~ By copy of this letter to Mr. Finger, I respectfully request that he or you provide Mr. Freshman with a copy of this letter. I understand that Mr. Freshman has a direct interest in the life insurance policy and may therefore want to pay the premium himself to preserve the policy. Very truly yours,

~ a m k L. Beausoleil, Jr. s cc: Jason P. Walsh, CPA David L. Finger, Esquire Matthew Neiderman, Esquire Shannon Sutherland, Esquire

The payment should be made directly to Lincoln Benefit Life Company, Lincoln Benefit Life Drive, Lincoln, NE, 68506, Policy Number 01N1065432. The phone number is 800-525-9287.