Plaintiffs/judgment-Creditors v. Cyberlux Corporation and Mark Schmidt, Individually
1. Legalist is an investment firm that specializes in alternative assets in the private credit industry across litigation finance, bankruptcy, and government receivables lending.
DISTIL analysis
- Legalist holds UCC liens on all assets of Cyberlux Corporation and Mark Schmidt individually
- Outstanding debt to Legalist: $7,313,627.17 as of January 24, 2025, accruing $4,364.46 daily
- Default notice issued November 4, 2024
- Texas law generally gives lienholder priority over receivership administrative costs
- Cyberlux previously assigned rights to payments from drone contract to Legalist
- UCC financing statements filed April 1, 2024 (Cyberlux) and July 15, 2024 (Schmidt)
Extracted text
7 pages · 12995 charactersUnofficial Copy Office of Marilyn Burgess Distot Clerk
CAUSE NO. 2024-48085
ATLANTIC WAVE HOLDINGS, LLC AND SECURE COMMUNITY, LLC,
PLAINTIFFS/JUDGMENT-CREDITORS,
V.
CYBERLUX CORPORATION AND MARK SCHMIDT, INDIVIDUALLY, §
DEFENDANTS/JUDGMENT-DEBTORS.
§ IN THE DISTRICT COURT OF
§ § §
§ § 129TH JUDICIAL DISTRICT
§ §
§
§ HARRIS COUNTY, TEXAS
Legalist SPV III, LP ("Legalist") hereby files its Petition in Intervention and in support thereof respectfully shows the Court as follows:
Unoffici& Copy oHacerof'taki yl Burgussimistrict Clerk
Atlantic Wave Holdings, LLC and Secure Community, LLC (collectively, "Judgment Creditors") filed an Application for Turnover After Judgment and For Appointment of Receiver against Cyberlux Corporation and Mark Schmidt (collectively, "Judgment Debtors") in this proceeding in connection with a foreign judgment that Judgment Creditors obtained against Judgment Debtors. Importantly for purposes of this intervention, Legalist holds a lien on all assets belonging to Judgment Debtors. Accordingly, Legalist files this Petition in Intervention to protect its interests in the Judgment Debtors' assets and to enforce its right to collect payment before any appointed receiver may collect fees and expenses in connection with administration of the receivership
[14th Dist.] 2004, no pet.) (citing Law Offices of Windle Turley v. Ghiasinejad, 109 S.W.3d 68, 71 (Tex. App .- Fort Worth 2003, no pet.)). "The interest asserted by the intervenor may be legal or equitable." Guar. Fed. Sav. Bank, 793 S.W.2d at 657 (citation omitted). Moreover, it is appropriate for a party to intervene to protect its interest in property that is the subject of a turnover motion. Breazeale v. Casteel, 4 S.W.3d 434, 436 (Tex. App. Austin 1999, pet. Denied).
Respectfully submitted,
VARTABEDIAN HESTER & HAYNES LLP
/s/ Austin N. Priddy Austin N. Priddy Texas State Bar No. 24098284 austin.priddy@vhh.law 301 Commerce St., Ste. 3635 Fort Worth, Texas 76102 Telephone: 817.214.4985
ATTORNEYS FOR LEGALIST, INC.
I hereby certify that a true and correct copy of the foregoing instrument was served by the court's efile system on all counsel of record in accordance with the Texas Rules of Civil Procedure on February 7, 2025.
/s/ Austin N. Priddy Austin N. Priddy
Document 1-5 TBFiled on 02/12/25 in TXSD .Page 6 of 7
File Number: 20240038686M Date Filed: 4/1/2024 7:44:00 PM Elaine F. Marshall NC Secretary of State
A. NAME & PHONE OF CONTACT AT FILER (optional) Corporation Service Company
B. E-MAIL CONTACT AT FILER (optional) SPRFiling@cscglobal.com
C. SEND ACKNOWLEDGMENT TO: (Name and Address)
Corporation Service Company
:unselected:
Springfield, IL 62703
:unselected:
THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY
OR
1a. ORGANIZATION'S NAME CYBERLUX CORPORATION
1b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S)
SUFFIX
1c. MAILING ADDRESS
CITY
STATE
POSTAL CODE
COUNTRY
Research Triangle
NC 27709
USA
2a. ORGANIZATION'S NAME
OR 2b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S)
SUFFIX
2c. MAILING ADDRESS
STATE
POSTAL CODE
COUNTRY
3a. ORGANIZATION'S NAME
Legalist SPV III, LP
OR 3b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S)
SUFFIX
3c. MAILING ADDRESS 58 West Portal Ave. #747
CITY
STATE
POSTAL CODE
COUNTRY
San Francisco
CA
USA
All assets
6a. Check only if applicable and check only one box: :unselected: Public-Finance Transaction :unselected: Manufactured-Home Transaction :unselected: A Debtor is a Transmitting Utility
6b. Check only if applicable and check only one box: :unselected: Agricultural Lien :unselected: Non-UCC Filing
Document 1-5 Filed on 02/12/25 in TXSD Page 7 of 7
EXHBIT B
File Number: 20240084460A Date Filed: 7/15/2024 8:27:00 AM Elaine F. Marshall NC Secretary of State
A. NAME & PHONE OF CONTACT AT FILER (optional) Corporation Service Company
B. E-MAIL CONTACT AT FILER (optional) SPRFiling@cscglobal.com
C. SEND ACKNOWLEDGMENT TO: (Name and Address)
Corporation Service Company
:unselected:
Springfield, IL 62703
:unselected:
THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY
OR
1a. ORGANIZATION'S NAME
1b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME MARK
ADDITIONAL NAME(S)/INITIAL(S) D.
SUFFIX
SCHMIDT
1c. MAILING ADDRESS
CITY
STATE
POSTAL CODE
COUNTRY
Pittsboro
NC
USA
OR
2a. ORGANIZATION'S NAME
2b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S)
SUFFIX
2c. MAILING ADDRESS
STATE
POSTAL CODE
COUNTRY
3a. ORGANIZATION'S NAME
Legalist SPV III, LP
OR 3b. INDIVIDUAL'S SURNAME
FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S)
SUFFIX
3c. MAILING ADDRESS 58 West Portal Ave. #747
CITY
STATE
POSTAL CODE
COUNTRY
San Francisco
CA
USA
All assets
Unofficial C.MAPY Officieren eenMarilyBurgess Fact Clerk
6a. Check only if applicable and check only one box: :unselected: Public-Finance Transaction :unselected: Manufactured-Home Transaction :unselected: A Debtor is a Transmitting Utility
6b. Check only if applicable and check only one box: :unselected: Agricultural Lien :unselected: Non-UCC Filing
Original source file
- File
- aw-harris-awh-2024-48085-doc-118944708.pdf
- Source UID
- source:754f8088d06ad29b6fdd33092400f7278d3f0a032360fe8d9eed8a3c03d5f10c
- Full SHA-256
- 754f8088d06ad29b6fdd33092400f7278d3f0a032360fe8d9eed8a3c03d5f10c