On September 14, 2023, Plaintiffs Peretz Mockin, Israel Mogilevsky, and SC Events, Inc. (the “Plaintiffs”) filed a Complaint seeking damages and judicial dissolution against Priority Capital Solutions, Inc., KIT Holdings, Inc., Broad Capital Solutions, LLC, USD Funding, LLC, Israel Tzivin, and Katheriene Laird Williams (the “Defendants”). 

The Complaint alleges that Mr. Tzivin raised money from investors and lenders through the business entity defendants to fund a merchant cash advance business but that the enterprise ultimately devolved into a fraudulent scheme.

On September 19, 2023, (a) the Plaintiffs filed an Emergency Agreed Motion and Memorandum of Law for Appointment of Receiver; and (b) the Court entered an Agreed Order Granting Plaintiffs’ Emergency Agreed Motion for Appointment of a Receiver and Related Relief (the “Receivership Order”). The Receivership Order appointed Seth Heller as receiver over Priority Capital Solutions, Inc., KIT Holdings, Inc. Broad Capital Solutions, LLC, USD Funding, LLC (the “Receivership Entities”) under Fla. Stat. § 607.1432.

This case is administered under Case No. 2023-023172-CA-01 before the Honorable Thomas J. Rebull in the Circuit Court of the 11th Judicial Circuit in and for Miama Dade County, Florida.