Deposition of Scott Rothstein re - Trustee Services

1 A. No, sir. Since this is a deal for a friend,
2 allegedly, I mean, we kept the interest rate,
3 relatively speaking, low. It's not like the two, 300
4 percent deals I was offering.
5 Q. Okay. And as a former lawyer, you are
6 generally aware of the fact that a promissory note
7 under Florida law requires doc stamps to be
8 enforceable. Are you aware of that?
9 A. Yes, sir.
10 Q. Did you ever pay any?
11 A. I'm aware of something to that effect, yes,
12 sir.
13 Q. Did you ever pay any doc stamps or other
14 taxes on any of the promissory notes delivered to
15 Mr. Lipsitz or Mr. Tonacchio?
16 A. No, sir.
17 Q. Do you know whether the notes, ergo, would
18 be enforceable under Florida law without the fixation
19 of doc stamps?
20 MR. GAY: Objection to form.
21 THE WITNESS: I don't know one way or the
22 other.
23 BY MR. SALIM:
24 Q. And at the time that RRA was engaging in
25 these note transactions, whether they be bridge loan
Page 128