IRVINE, CALIF., November 6 /CNW/ - Debt Resolve, Inc. (AMEX: DRV) and
Apollo Enterprise Solutions, LLC jointly announced today that they have
reached a settlement of the pending patent infringement lawsuit between Debt
Resolve and Apollo Enterprise Solutions in the U.S. District Court, District
of New York.
The parties came to agreement that Apollo's Intelligent Debt
Solutions(TM) system, as represented by Apollo, does not infringe on Debt
Resolve's United States Patent Nos. 6,330,551 and 6,954,741, both entitled
Computerized Dispute Resolution System and Method. The parties further agree
to respect each other's intellectual property to the extent it is validly
patent protected with the parties preserving all of their legal rights.
At present, the parties do not contemplate any further legal action
against each other.
About Apollo Enterprise Solutions
Apollo Enterprise Solutions, LLC, headquartered in Irvine, California,
provides enterprise-class web-hosted solutions for a variety of industries
involved in receivables management and debt collections. At the heart of
Apollo's Intelligent Debt Solutions(TM) system is the patent-pending IDS
Decision Engine(TM) which provides Decisioning Intelligence(TM), a
revolutionary process that delivers more debtors for recovery and settlement
and more dollars per settlement by creating individual, customized offers that
reflect a debtor's most realistic ability to pay. For more information, please
visit the website at www.apolloenterprise.com.
About Debt Resolve, Inc.
Debt Resolve provides lenders, collection agencies, debt buyers and
utilities with a patent-based online bidding system for the resolution and
settlement of consumer debt and a collections and skip tracing solution that
is effective at every stage of collection and recovery. Through its
subsidiary, First Performance Corporation, the company is actively engaged in
operating a collection agency for the benefit of its clients, which include
banks, finance companies and purchasers of distressed accounts receivable. The
stock of Debt Resolve is traded on the American Stock Exchange. Debt Resolve
is headquartered in White Plains, New York. For more information, please visit
our website at www.debtresolve.com.
For further information:
For further information: Apollo Enterprise Solutions, LLC Executive Vice
President - Sales & Marketing Jeff Dickey, 949-399-1000 x220