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COMMONWEALTH OF MASSACHUSETTS
SUPERIOR COURT C.A. NO. 92-7518
V & M MANAGEMENT CO., INC.
DEPT. OF PUBLIC UTILITIES,
THE-BOSTON GAS COMPANY, and
THE BOSTON EDISON COMPANY
BOSTON EDISON COMPANY
V & M MANAGEMENT, INC. and
JACK KEMP, AS HE IS SECRETARY OF
THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT
Now comes plaintiff in counterclaim, Boston Edison Company, by its counsel, and hereby moves this Honorable Court for relief pursuant to Prayer 3 of its Complaint for Receivership (Count II of its Verified Counterclaim) filed herein, to wit:
That a receiver be appointed to conserve the assets of V & M Management, Inc., make all necessary payments on all outstanding obligations now due and payable of V & M Management, Inc. and for such other purposes as the Court may order.
As grounds therefor, Boston Edison Company states that V & M Management, Inc. is indebted to Boston Edison Company in the amount of $173,544.33 (One hundred seventy-three thousand, five hundred and forty-four dollars and 33/100) plus interest at the rate of 1 % per month from November 18, 1989 plus costs pursuant to a judgment recovered against it on November 17, 1989 (a copy of Boston Edison's execution is annexed hereto as Exhibit "A"), which judgment remains outstanding in its entirety. In light of the substantial amount owed by V & M Management, Inc. and the --defendant's failure to make payment toward the,outstanding judgment, Boston Edison Company believes that V&M Management, Inc. will continue to fail and refuse to pay the judgement recovered against it.
WHEREFORE, Boston Edison Company, by its counsel, respectfully requests that this Honorable Court grant Boston Edison Company relief pursuant to Prayer 3 of its Complaint for Receivership filed herein and appoint a receiver for V & M
BOSTON EDISON COMPANY
Lawrence J. Cohen
BBO No. 089610
Audrey LaRowe Nee BBO # 546431
BADGER, DOLAN, PARKER & COHEN
Two Oliver Street
Boston, MA 02109
P.O. Box 3436
Phoenix, Az. 85030
B.B. 0. No. 556352
Attorney for Plaintiff
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS
V&M MANAGEMENT, INC.
THE DEPARTMENT OF PUBLIC UTILITIES,
JACK KEMP, AS SECRETARY OF THE UNITED
STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT,
No. CV 93-10285 WF
PLAINTIFF'S SUPPLEMENTAL MEMORANDUM
IN OPPOSITION TO DEFENDANT BOSTON EDISON'S
MOTION FOR APPOINTMENT OF RECEIVER
A. SUMMARY OF ARGUMENT
In January, 1993, Defendant Boston Edison requested the appointment of a receiver for the assets of Plaintiff V&M Management. Since that time, significant rulings by the Department of Public Utilities on July 13, 1993 [Exhibit A], and a audit and analysis of 52 months of billings and payments by the Goodman Group [Exhibit B], and an opinion letter by Bob Munro, CPA [Exhibit C] have substantially undermined any claim of the Defendant Boston Edison that the judgment upon which it relies is valid, or that the judgment