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November 15, 2009

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Judge prevents family from selling shares of Nevada Beverage Co.

Wednesday, Dec. 8, 2004 | 10:42 a.m.

A temporary restraining order will remain in force after a Clark County District Court judge continued the order that bars three sisters of Nevada Beverage Co. President Pat Clark Jr., from selling shares of the company on Tuesday.

Judge Sally Loehrer continued the restraining order which she issued late last month, halting the sale. Each side in the dispute was ordered to submit recommendations for an independent accountant by today.

Joann Clark Callahan, Mary Clark Houston and Barbara Clark Klassen are seeking to sell shares of Nevada Beverage Co. and Alternative Beverage Inc., which serve as collateral for 11 promissory notes worth $39 million, according to court documents.

The sisters allege Pat Clark Jr. has defaulted on payments of interest owed to three family estate trusts and they want to make up for that loss by selling the shares.

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