Stephen Colson filed a response opposing Denada Investment’s Motion to Intevenve in the Wachovia-Colson interpleader case. Colson’s position is that the Denada promissory note is a separate transaction that is unrelated to the subject of the interpleader action. In addition, the response points out that only about $150.00 of the interpleaded funds were in Colson’s personal accounts or his law firm’s accounts. Most of the funds were in various Prestige Title accounts, including trust accounts.

Colson’s response appears valid and I expect Judge Ozerden to deny Denada’s motion to intervene. Look for Denada to file a separate action against Colson in the near future.

Overall, things have been fairly quite in the two Colson cases currently pending in federal court. In the Lawyer’s Title case the parties are conducting written discovery and Judge Ozerden scheduled a hearing on a motion for preliminary injunction for July. There is a motion pending to consolidate the two cases, which if granted will make following the litigation easier.

The two big shoes that have yet to drop are a criminal indictment and a bankruptcy filing. I think we’ll see both before this is over. I’m hearing from Coast contacts that Colson is telling people that he is innocent and will be vindicated. I hope so. Colson has a reputation as being a nice guy and many people would like to see this work out for him.