Cate Street CEO: No bank account or stake in company
The chief executive of Cate Street Capital, the New Hampshire-based investment company planning to revitalize Millinocket’s mill industry, said he does not have a personal bank account and has no financial stake in Cate Street or any other company.
That was the most recent testimony from CEO John Halle, who is seeking to avoid paying a $2.4 million award from a personal lawsuit, according to the Bangor Daily News. His new statements in Maine District Court last week are part of an ongoing 14-year-old legal battle between him and former business associate, Richard Davimos Jr., over an unpaid loan.
The legal battle shifted jurisdictions from New York to Maine last year after the Supreme Court of the State of New York awarded Davimos $1 million plus interest. In April, the Maine Superior Court allowed Davimos to move ahead with award collection against Halle, whose lawyer said they believe most of Halle’s assets exist in Maine.
During testimony last week, Halle said he owns three guns, but does not have a personal bank account and does not have financial stake in any company, including Cate Street or the companies it has formed to operate various mill projects in Maine, according to the BDN. Halle said he has always turned his paycheck over to his wife, Sharon Halle.
Halle’s claim led District Court Judge Barbara Raimondi to order his attorney to provide opposing attorneys with bank statements from the past two years into which Sharon Halle deposited her husband’s paychecks.
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