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FOREST DIAMONDS

World’s Largest Diamond Matched Pairs Manufacturer

U. S.  FEDERAL COURT AWARDS FOREST DIAMONDS

$ 750,000 AGAINST AMINOV DIAMONDS LLC.

      

 

 

NEW YORK, NY – February 25, 2008 – Forest Diamonds™, a division of TAM Diamonds, Ltd., the worlds largest diamond matched pairs manufacturer, today announced that the United States District Court for the Southern District of New York has approved a confession of judgment executed by Aminov Diamonds, LLC., for the amount of $ 750,000 in favor of Forest.  The Court also ordered Aminov Diamonds to transfer its phone and fax numbers, which were one digit different from Forest’s phone and fax numbers, to Forest. Aminov Diamonds will also cease to do business under the name “Aminov Diamonds”, which is a Forest d/b/a, and will stop using the plaintiff's customer database. 

The Court entered the confession of judgment against Aminov Diamonds approximately one month after Forest filed a motion for sanctions against both Aminov Diamonds LLC., and its principal, Yehuda Aminov, for intentionally destroying evidence.  Shortly after Forest filed this motion, Yehuda Aminov filed for personal Bankruptcy, thereby staying Forest’s action against him.

Isaac Aminov, former co-owner of Forest Diamonds, said "This lawsuit was filed with a hope to accomplish three goals: protect our good name, protect our assets and of course, to receive compensation for the damages caused to our business. Considering the circumstances, I sincerely believe that the consent judgment we received is a big step toward accomplishing those goals. On a personal level, I get no satisfaction in knowing that my nephew (Yehuda Aminov), whom I have helped and trusted, had to be sued. With all that being said, I am happy to know that this chapter has ended.”

Joseph Totayev, president and owner of Forest Diamonds, said in reference to the lawsuit: "Of course I am pleased about the judgment; I think it speaks for itself. I thank all our customers and colleagues who supported us over the past thirty years and especially during these past two years. It is also very important to me to thank my wonderful staff at Forest, who was very patient facing some unjust situations due to the lawsuit.  Now we will be able to focus on moving our business towards even greater success.” 

Stephen Wagner and Sari E. Kolatch, partners in the New York law firm of Cohen Tauber Spievack & Wagner represented Forest in this action. 

 

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Forest Diamonds is a registered trademark or trademark of TAM Diamonds, Ltd. and/or its affiliates in the U.S. and certain other countries. Copyright © 2008 Forest Diamonds, Inc. All rights reserved.

 

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Naamah S. Kesselman

Forest Diamonds, Inc.

15 West 47th Street

New York, New York, 10036

T  (212) 730 8844 

E  press@ForestVsAminov.com

 

 

Stephen Wagner

CTSW P.C.
420 Lexington Avenue

New York, New York, 10170

T  (212) 586 5800

E   swagner@ctswlaw.com