Depositions were slated to begin this week so this is not necessarily a surprise:
Procedurally this means Magnolia Group is suing O’Dwyer Reality and its former agent Mary Bunch. That said O’Dwyer cross sued LNG, Rigsby, Nicaud and Bunch so the gang is tied still together in litigation. The Gordian Knot that is this lawsuit largely remains.
Wonder what the pay off amount was for Magnolia to settle? Could the defendants have concluded anything was better than having to be put under oath to relate the gory details of this fiasco? From what I hear, raising your right hand to the accuracy and truthfulness of your testimony can sure put a “knot” in one’s throat.
There is still one deposition coming that has the potential to sink their boats, and their “knots” (Gordian or otherwise) had better be secured to the cleats or this thing could rip loose and who knows whose boat could be at risk in this messy harbor.