Barker Pacific Sees Court Order Denied for Sunniva Asset Seizure

Sunniva Inc (CSE: SNN) released its first goods news in ages this morning. The ex parte application filed in court earlier this week by Barker Pacific under the name Sunniva Production Campus LLC against Sunniva’s California subsidiary was denied in court on Monday.

Sunniva Inc's Logo

The ex parte application was referred to as a “writ of attachment,” which is lawyer-speak for “seize an asset.” Essentially, Sunniva Production Campus, LLC, whom is owned by Barker Pacific, was looking to seize certain assets owned by CP Logistics, a wholly owned subsidiary of Sunniva Inc, and a licensed cannabis manufacturer. The request for seizure was a means of securing debt that is owed by Sunniva which came due back in August 2019.

While the ex parte application failed in Los Angeles County Superior Court, it is unclear if this is where Barker Pacific’s attempts at asset seizure end. The firm is owed more than $2.7 million as a result of a defaulted loan, and is the firm behind the construction and lease of Sunniva’s California Campus.

Sunniva Inc last traded at $0.28 on the CSE.


Information for this briefing was found via Sedar and Sunniva Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Related News

Sunniva Further Amends Sale of Canadian Assets

Sunniva Inc (CSE: SNN) announced today that the terms of its Canadian asset sale for...

Thursday, October 3, 2019, 11:22:46 AM

Sunniva Fails to Close Sale of Canadian Assets on Time, CFO Resigns

Sunniva Inc (CSE: SNN) announced this morning that their chief financial officer Dave Lyle has...

Monday, November 4, 2019, 10:08:44 AM

Sunniva To Sell Okanagan Falls Property For Net Proceeds Of $3.2 Million

It seems Sunniva Inc (CSE: SNN) is back at it again. The company announced this...

Wednesday, July 22, 2020, 10:16:30 AM

Sunniva Sued for $472,500 in Finders Fees for Natural Health Services Sale

Sunniva Inc (CSE: SNN) has unsurprisingly found itself in further hot water as it relates...

Thursday, January 2, 2020, 09:02:54 AM

Management Exodus Continues At Sunniva

Sunniva Inc (CSE: SNN) announced this morning that President Kevin Wilkerson has resigned from his...

Monday, November 18, 2019, 08:29:58 AM