Updated: Apr 27, 2022
TRADE HARVEST, REPRESENTED BY SARACHEK LAW FIRM, AWARDED $469,000 BY CALIFORNIA COURT AFTER DEFAULT BY DIGITAL BRANDS GROUP (“DBGI”)
Trade Harvest Industrial, Ltd. (“Trade Harvest”), an international manufacturer of garments, was awarded $469,000 on February 25, 2022 by the Superior Court of California, L.A. Division, Southeast District (Case No. 20NWCV00518) after Digital Brands Group (“DBGI”), a publicly traded company, and two of its affiliates defaulted on its obligations. DBGI and its divisions, Bailey 44 & Demin L.A., were subject to a judicially mediated settlement agreement. Trade Harvest now has a Writ of Attachment and a lien in place
Trade Harvest’s CEO, Climas Lo, wrote DBGI’s Board of Directors a letter on Monday, April 18, 2022 asking the Board to “meet your obligations to us as your creditor” before proceeding with further acquisitions. DBGI on Monday filed an S-1 statement with the Securities & Exchange Commission seeking to raise more money.
Trade Harvest is represented by the Sarachek Law Firm, a leading creditors’ rights firm specializing in the collection of trade receivables which services over 800 domestic and international clients, from the United States to China, India, Mexico, South Korea, Vietnam, Egypt and many other countries.