Callidus Capital Litigation

The site Callidus Capital Litigation was organized by a guarantor of the Callidus borrower Alken Basin Drilling LTD.

The site contains Claims between Callidus and several borrowers as well as news articles relating to Catalyst Capital Group, its parent company and their controlling mind Newton Glassman.

Glassman has ties to Catalyst admittedly engaging a contractor to conduct a sting on a retired Ontario Judge in hopes of influencing an active Canadian case which was before the Ontario Courts. The final outcome of that case may be found at https://catalystlitigation.com/

I Kevin Baumann believe that Alken’s loan with Callidus Capital Corporation was a loan to own strategy driven by Glassman’s yield enhancement business brainchild. Myself and Alken were subjected to deception, fraud and oppression before and throughout the loan period. Alken was not allowed to repay its loan and experienced nothing but default by design. To date in excess of 1.8 million has been expended litigating Callidus and its representative’s relating to the alleged Alken loan.

One of the early guarantee attempts to go to trial was Callidus Capital Corporation vs ESCO Marine  et AL, a borrower referred to on the site as ESCO. On March 31, 2017 the United States District Court for the Southern District of Texas Brownsville Division rendered a decision.

The result contained fraudulent inducement and breach of contract findings against Callidus Capital Corporation.

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