COMMITMENTS AND CONTINGENCIES AND LIQUIDITY (Details Narrative) - Related Party Domain - USD ($)
$ in Thousands

1 Months Ended

Feb. 28, 2014

Oct. 31, 2011

Jun. 30, 2015

Notes oustanding balance

$ 746,384

Clapper Parties [Member]

Damages sought value

$ 74,000

Actual damages sought value

26,000

Interest damages sought value

$ 48,000

Description of plaintiff

Mr. David Clapper and entities related to Mr. Clapper

Description of defendant

A formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.)

Description of allegation

Originally arising out of a transaction in 1998, in which ART and the Clapper Parties were to form a partnership to own eight residential apartment complexes.

Description of action taken by court

The Court of Appeals affirmed a portion of the judgment in favor of the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the case back to the trial court to recalculate the damage award, as well as pre and post-judgment interest thereon.