LOS ANGELES--(BUSINESS WIRE)--On April 11, 2011, Los Angeles Superior Court Judge John A. Kronstadt signed a Tentative and Proposed Statement of Decision finding Anthony Thomas’ claim of ownership of the Bahia Emerald not credible. After hearing the evidence, the Judge found that Mr. Thomas never purchased the Bahia Emerald. If the Judge’s Tentative and Proposed Statement of Decision becomes final, Mr. Thomas will have no claim to ownership of the Bahia Emerald.
Respondents Kit Morrison, Todd Armstrong, Jerry Ferrara, and FM Holdings, Inc. successfully argued that Mr. Thomas’ claim of title of the Bahia Emerald was not credible and should be barred as a matter of law. They are represented by Browne Greene with the Santa Monica, CA. law firm of Greene Broillet & Wheeler (www.greene-broillet.com) and Daniel K. Balaban and Andrew J. Spielberger with the Santa Monica, CA. law firm of Balaban & Spielberger (www.balaban-spielberger.com).
Last year, on September 8, 2010, Respondents Kit Morrison, Todd Armstrong, Jerry Ferrara, and FM Holdings, Inc. reached an undisclosed settlement with Petitioners Ken Conetto and Forrest Wayne Catlett. FM Holdings, Inc. which stands for “Ferrara & Morrison Holdings, Inc.” is a corporate entity whose shareholders include Jerry Ferrara, Kit Morrison and Todd Armstrong.
“We are very satisfied with the Judge's findings pertaining to Mr. Thomas’ claiming ownership of the Bahia Emerald,” stated Browne Greene. “We stand behind FM Holdings, Inc. and are confident that it will prevail as the legal and rightful owner of the Bahia Emerald.”
The Bahia Emerald, at 840 pounds, is said to be the world’s largest raw emerald. Until the ownership dispute is resolved, the Bahia Emerald remains in the custody of the Los Angeles Sheriff’s Department.
Editor’s Note: The Hon. John A. Kronstadt presides over Department 30 and the Hon. Peter D. Lichtman presides over Department 4 at the Stanley Mosk Courthouse, 111 North Hill Street, Los Angeles, CA.