Legal Proceedings Against Ric Flair Continue After He Fails To Adhere To Settlement Agreement With Highspots.com; Trial Set For This Month

The trial for Highspots.com's lawsuit against Ric Flair is still scheduled to begin on 4/18/11, PWInsider.com has confirmed. Highspots.com issued a statement several weeks back that the two sides had come to a Settlement agreement, but legal proceedings are going forward as Flair did not adhere to the Settlement after it was finalized, according to a source close to the situation. The two sides will begin depositions shortly.

The suit was filed last year over the ongoing issues regarding money Flair allegedly owes Highspots and the original National Wrestling Alliance World Heavyweight championship belt, which Highspots claimed they were given as collateral for the loan.

Highspots maintained possession of the belt and have previously tried to sell the belt to make up the amount they have alleged Flair owes them, only to learn that another entity, Combraco, Inc., already held a lien on the property for money Flair owes them.

Highspots claims they are owed $35,000 from money lent to Flair, as well as money spent on photos and other materials created in conjunction with Flair appearances. They are also claiming they are owed one more appearance contractually by Flair, plus interest on money owed.

Ring of Honor currently has a lawsuit pending against Flair as well for breach of contract and money owed after Flair pulled out of scheduled appearances as the company's "Ambassador" after being previously paid in advance. In checking with PA court records, that lawsuit is still pending as well...More?