A–Yes.
Q–Doesn’t sound right, does it?
A–It sounds right to me.
The alleged misappropriation of “construction management fees” was a feature of the trial. Testimony was given that Altenberg has been sued or had conflicts with many of the businesses VERT Solar Finance conducted business with. In addition, Altenberg was questioned concerning allegations of misappropriating funds and putting the solar projects in the name of his company and not in the name of the fund. Vice Chancellor Laster questioned Altenberg directly as to how he collected these fees and whether there was a practice or custom of collecting fees in this manner:
THE COURT: Do you understand that for DynaSolar — under the DynaSolar arrangements, that, for example, their first 40 percent was contingent upon getting to, for example, NTP.
THE WITNESS: Correct.
THE COURT: So what happened if they didn’t get to NTP?
THE WITNESS: They didn’t get paid.
THE COURT: Precisely. So I’m asking you — and I think it’s a straightforward question to which the answer is no. I’m asking you –
