Home MLM News Breaking MLM News: Jeunesse Purchase of MonaVie and MYNT Now In Question Through The Courts!

Breaking MLM News: Jeunesse Purchase of MonaVie and MYNT Now In Question Through The Courts!

by Troy Dooly

MonaVie-Mona-Vie-Free-Membership-Month-of-March-6809_image

Breaking Update: Judge wants answers, halts takeover of MonaVie — for now

Court Filings:

Original MonaVie ESOP Class-Action Complaint

Bankers Trust Company .vs MonaVie

Bankers Trust Supplement Filing

James Marsh CFO MonaVie Declaration

MonaVie Responce to TRO

Tom Harvey of the Salt Lake City Tribune released an article – Utah-based MonaVie faces foreclosure after spectacular rise and fall. This story broke yesterday and as I went through the whole article I realized several issues.

If I get this right, and it’s tricky as I said reading through the article, and we are just now pulling the lawsuits and filing, here is what I see on the surface.

1. In 2010 two transactions took place (not sure of which came first at this point); major stockholders sold their stock valued at that time at $186 million to the EMPLOYEE ESOP secured by a high-yield (article called it an “exorbitant interest rate), and during this same year, MonaVie executives sought out financing for $182 million from TSG-MV Financing LLC, securing “virtually all the assets” of MonaVie.

Here are my questions and observations… 

 

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