A Wagyu cow stands on a green meadow. Texas Court Increases Security by Millions of Dollars to Protect Damages Award
HeartBrand Holdings, a cattle company marketing high-end Japanese breeds, was forced to increase its security for a debtor's judgment by $10.75 million.
July 13, 2022 at 04:19 PM
4 minute read
Agriculture
HeartBrand Holdings, a cattle company marketing high-end Japanese breeds, was forced to increase its security deposit by $10.75 million to protect a damages award, after an appeals court found it understated its net worth.
HeartBrand, a Texas-based seller of Akaushi cattle and Akaushi beef products, and the American Akaushi Association Inc. were slapped with a $30 million jury verdict in July 2021 for fraud, conspiracy and breach of contract in connection to their representations that cattle sold to Twinwood Cattle Co. was certified Akaushi or Red Wagyu.
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