For Immediate Release!!
The Fight to Save the Phoenix Chinese Cultural Center Moves to the Superior Court Again this Morning as Szechwan Palace Restaurant Defends Itself Against Motion by David Tedesco and 668 North, LLC. to Increase the Bond In the Case that Has Kept the Investment Banker from Destroying the Center
For Information: (480) 758-2863
What: Court Hearing to Decide Bond Amount
Where: Judge Warner-Courtroom 912,
East Court Building, 101 W Jefferson St, Phoenix, AZ
When: 10 AM, Thursday, March 29, 2018
Dateline Phoenix, AZ: After the Appellate Court in Arizona ruled to STAY construction on the exterior of the Chinese Cultural Center in Phoenix last year, Investment Banker David Tedesco, owner of 668 North, Realty Executives, Passport Health and Pump It Up Games (Fun Brands), returns to court this morning to try and get the Maricopa County Superior Court Judge in charge of the case to increase the bond amount paid in the case. The Szechwan Palace Restaurant has already posted a bond in the tens of thousands of dollars, but Tedesco is asking for as much as $250,000 more.
According to court papers, the investment banker claims he is losing over $40,000 per month as a result of being told by the Arizona Appellate Court to stop all construction to the iconic Chinese roof, the Prayer Garden and the exterior of the building at the Center. He wants the small business owner of the Szechwan Palace Restaurant to come up with more cash...a lot of cash.
The restaurant owner, Michael Zhao, is expected to testify, telling the court that to require hundreds of thousands of dollars in more bond money, when the appellate court has already said that he is likely to win this case, will put undue stress and hardship on his company. Jack Wilenchik, the attorney representing Szechwan Palace, Will ask the court to keep the bond at the same amount it currently sits.
The hearing is expected to last about an one and a half hours.
For further information contact Tom Simon, Spokesman Chinese United Association of Greater Phoenix (CUAGP): (480) 758-2863