Bahia Emerald Trial Goes Back to Court on Tuesday, December 14, 2010

LOS ANGELES--(BUSINESS WIRE)--A bench trial before the Hon. John A. Kronstadt to determine whether or not Anthony Thomas has a legitimate claim to ownership of the Bahia Emerald continues on December 14, 2010 at 10:00 AM (with additional trial dates of December 15, 16 and 17 if necessary) in Department 30 at the Stanley Mosk Courthouse, 111 North Hill Street, Los Angeles, CA. Judge Kronstadt will continue to hear oral arguments only as to the cross-examination of testimony previously submitted to the Court in writing, which initially began on September 24, 2010. A trial date as to Mark Downie’s ownership claims to the Bahia Emerald has not yet been announced. Ken Conetto By Eric Kitchen His Attorney In Fact (Petitioner) vs. Kit Morrison and Todd Armstrong (Respondents); Mark Downie (Intervenors) vs. Eric Kitchen et al., Kit Morrison and Todd Armstrong (Respondents), Case No. BS118649.

On September 8, 2010, Respondents Kit Morrison, Todd Armstrong, Jerry Ferrara, FM Holdings, Inc. and Market Link, Inc. reached an undisclosed settlement with Petitioners Ken Conetto and Forrest Wayne Catlett.

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) represent Respondents Kit Morrison, Todd Armstrong, Jerry Ferrara, FM Holdings, Inc. and Market Link, Inc. (FM Holdings, Inc.).

FM Holdings, Inc. stands for “Ferrara & Morrison Holdings, Inc.” and has three shareholders: Jerry Ferrara, Kit Morrison and Todd Armstrong. In 2008, FM Holdings, Inc. obtained valid legal title to the Bahia Emerald and alleges that it also has an equitable claim to title as bona fide purchasers of the Bahia Emerald based on its seven-figure payment for the Bahia Emerald.

Until the case is resolved, the Bahia Emerald will remain in custody with the Los Angeles Sheriff’s Department. At 840 pounds, the Bahia Emerald is said to be the world’s largest raw emerald.