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Liquidating trustee cleveland

Bankruptcy law also allows a trustee to void some payments made in the period before the bankruptcy filing — 90 days or as much as a year before the filing, depending upon who received the payment — and to demand repayment of whatever was paid. Rabin's lawsuit does not specify damages beyond asking for the return of

Bankruptcy law also allows a trustee to void some payments made in the period before the bankruptcy filing — 90 days or as much as a year before the filing, depending upon who received the payment — and to demand repayment of whatever was paid. Rabin's lawsuit does not specify damages beyond asking for the return of $1.1 million in fees paid to Skoda Minotti for accounting and auditing services.Skoda Minotti attorney Brent Silverman of Reminger Co. In addition, two lawsuits filed by a total of 11 Ink Stop investors charge Skoda Minotti with professional negligence, omitting a going concern opinion in its audits, and violating Ohio securities law.Sheldon Artz, a Moreland Hills plastic surgeon; Ara Bagdasarian, vice president of Travel Centers of America Inc.; Bruce Blake, president of R. Blake Inc., a Warrensville Heights marketing firm; James Di Lella, president of Conneaut Leather Inc. “Where's the guy who says the numbers don't add up? in 2003 and its headquarters staff moved to Chicago, Office Max operations vice president Dirk Kettlewell chose to stay in Cleveland and to open a niche retailer that specialized in consumable computer printer ink cartridges.of Conneaut; James Hummer, founder and former CEO of Whole Health Management Inc.; and Michael Southard, national sales manager for Kichler Lighting of Independence. Rabin's suit argues that because of the allegedly incomplete financial statements, Ink Stop's officers could continue “deceiving and misleading (potential investors), and therefore Skoda Minotti has responsibility to the estate in bankruptcy for some of the very substantial debt” still owed by Ink Stop. Chapman said potential investors feel burned when they believe they were deceived by clean audits by independent accounting firms. ”The suits filed against Skoda Minotti are only the latest in a series of legal actions to follow the bankruptcy of Ink Stop, a company that rose and fell quickly. According to a story that appeared in Crain's in April 2009, Mr.That case was settled in March 2010 when a group of officers and directors agreed to contribute to a $660,000 fund that would pay a substantial portion of the wages owed.Then the bankruptcy trustee and the investors weighed in.Charles Ames, chairman of Ink Stop's board; Michael Clegg, former president of the Colliers Ostendorf Morris real estate brokerage; James Hummer; Norbert Lewandowski, a retired accounting firm owner; James Mastrian, a former Office Max, Revco D. of Berea; and Norman “Boomer” Esiason, a former professional quarterback and television sports broadcaster.

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Bankruptcy law also allows a trustee to void some payments made in the period before the bankruptcy filing — 90 days or as much as a year before the filing, depending upon who received the payment — and to demand repayment of whatever was paid. Rabin's lawsuit does not specify damages beyond asking for the return of $1.1 million in fees paid to Skoda Minotti for accounting and auditing services.

Skoda Minotti attorney Brent Silverman of Reminger Co. In addition, two lawsuits filed by a total of 11 Ink Stop investors charge Skoda Minotti with professional negligence, omitting a going concern opinion in its audits, and violating Ohio securities law.

Sheldon Artz, a Moreland Hills plastic surgeon; Ara Bagdasarian, vice president of Travel Centers of America Inc.; Bruce Blake, president of R. Blake Inc., a Warrensville Heights marketing firm; James Di Lella, president of Conneaut Leather Inc. “Where's the guy who says the numbers don't add up? in 2003 and its headquarters staff moved to Chicago, Office Max operations vice president Dirk Kettlewell chose to stay in Cleveland and to open a niche retailer that specialized in consumable computer printer ink cartridges.

of Conneaut; James Hummer, founder and former CEO of Whole Health Management Inc.; and Michael Southard, national sales manager for Kichler Lighting of Independence. Rabin's suit argues that because of the allegedly incomplete financial statements, Ink Stop's officers could continue “deceiving and misleading (potential investors), and therefore Skoda Minotti has responsibility to the estate in bankruptcy for some of the very substantial debt” still owed by Ink Stop. Chapman said potential investors feel burned when they believe they were deceived by clean audits by independent accounting firms. ”The suits filed against Skoda Minotti are only the latest in a series of legal actions to follow the bankruptcy of Ink Stop, a company that rose and fell quickly. According to a story that appeared in Crain's in April 2009, Mr.

That case was settled in March 2010 when a group of officers and directors agreed to contribute to a $660,000 fund that would pay a substantial portion of the wages owed.

Then the bankruptcy trustee and the investors weighed in.

.1 million in fees paid to Skoda Minotti for accounting and auditing services.Skoda Minotti attorney Brent Silverman of Reminger Co. In addition, two lawsuits filed by a total of 11 Ink Stop investors charge Skoda Minotti with professional negligence, omitting a going concern opinion in its audits, and violating Ohio securities law.Sheldon Artz, a Moreland Hills plastic surgeon; Ara Bagdasarian, vice president of Travel Centers of America Inc.; Bruce Blake, president of R. Blake Inc., a Warrensville Heights marketing firm; James Di Lella, president of Conneaut Leather Inc. “Where's the guy who says the numbers don't add up? in 2003 and its headquarters staff moved to Chicago, Office Max operations vice president Dirk Kettlewell chose to stay in Cleveland and to open a niche retailer that specialized in consumable computer printer ink cartridges.of Conneaut; James Hummer, founder and former CEO of Whole Health Management Inc.; and Michael Southard, national sales manager for Kichler Lighting of Independence. Rabin's suit argues that because of the allegedly incomplete financial statements, Ink Stop's officers could continue “deceiving and misleading (potential investors), and therefore Skoda Minotti has responsibility to the estate in bankruptcy for some of the very substantial debt” still owed by Ink Stop. Chapman said potential investors feel burned when they believe they were deceived by clean audits by independent accounting firms. ”The suits filed against Skoda Minotti are only the latest in a series of legal actions to follow the bankruptcy of Ink Stop, a company that rose and fell quickly. According to a story that appeared in Crain's in April 2009, Mr.That case was settled in March 2010 when a group of officers and directors agreed to contribute to a 0,000 fund that would pay a substantial portion of the wages owed.Then the bankruptcy trustee and the investors weighed in.Charles Ames, chairman of Ink Stop's board; Michael Clegg, former president of the Colliers Ostendorf Morris real estate brokerage; James Hummer; Norbert Lewandowski, a retired accounting firm owner; James Mastrian, a former Office Max, Revco D. of Berea; and Norman “Boomer” Esiason, a former professional quarterback and television sports broadcaster.

The largest known amount sought in the lawsuits is .5 million. 2, bankruptcy trustee Mary Ann Rabin charges Skoda Minotti with professional negligence. Rabin said the accounting firm failed to discover and report that Ink Stop's officers had misstated Ink Stop's financial statements.Her lawsuit also alleges that for two years prior to the bankruptcy filing, Ink Stop's financial condition was “tenuous at best” and that the accounting firm failed to note in its audit opinions that “Ink Stop was clearly a failing business.” The trustee in a bankruptcy liquidation is administrator of what is called the bankruptcy estate and is charged with doing what he or she can to repay money owed to creditors and, if possible, lost by its stockholders.The job includes selling assets and collecting debts.His practice focuses on counseling and representing clients in such areas as insurance coverage, business torts, products liability, contract and employment matters. He also served as a judicial law clerk to the Honorable Joseph F.Rob has served as national coordinating defense counsel on mass tort and product liability cases pending in State and Federal courts. Weis Jr., United States Court of Appeals for the Third Circuit.Rob is a Co-Managing Partner of SSEG and is involved with several of the firm’s practice groups including Insurance; Tort Defense, Product Liability and Complex Litigation; Human Resources, Labor and Employment; and Commercial and General Litigation.Rob has extensive experience representing clients in commercial and complex litigation, including class actions and mass torts, in state and federal courts throughout the country. D., magna cum laude, from Case Western University in 1990.In financial statements attached to an August 2009 private stock offering, Ink Stop reported a loss of .3 million on net sales of .2 million for the fiscal year that ended Jan. A year earlier, the company reported a net loss of .9 million on sales of .1 million. The bankruptcy filing listed nearly million in debts and million in assets.Even before the bankruptcy filing, Ink Stop employees filed suit for wages owed.While he wouldn't speak about the cases he has filed against Skoda Minotti, attorney John Chapman was willing to talk about the similar lawsuit filed by the bankruptcy trustee. Kettlewell bootstrapped the startup with a six-figure home equity loan in 2005.The story appeared less than seven months before Ink Stop filed for Chapter 7 bankruptcy liquidation.

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  1. Mar 26, 2012. Two-and-a-half years after InkStop Inc. filed to liquidate in U. S. Bankruptcy Court, the company's court-appointed trustee and disgruntled investors separately are. Both suits were filed by John Chapman & Associates LLC, a Cleveland law firm specializing in investment fraud and broker misconduct.

  2. Jul 27, 2017. A debtor may also seek confirmation of a liquidating plan. The liquidating plan may provide for the sale of the debtor's assets to a third party. The liquidating plan may also provide for the transfer of substantially all of the debtor's assets to a Liquidating Trust. For more insight, see our recent blog post - 2.

  3. Sean D. Malloy is an attorney at McDonald Hopkins in Cleveland who counsels clients on strategic alternatives in distressed business settings. Sean is Chair of the firm's Business Restructuring Services Department and Chair of the Creditors' Committee Practice Group.

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