Over the past several months the Trustee has resolved a number of lawsuits, some of which remain subject to approval by the Bankruptcy Court. Click HERE to access the motion for approval of the settlement, which describes in detail the reasons why the Trustee believed the settlement should be approved. The legal decisions you make should be reviewed, if possible, by counsel.
Please use the form below to refine and maximize search results.Interim distributions are rarely made in chapter 7 bankruptcy cases (like Fair Finance), but this is a special case. On May 28, 2015, a settlement in the amount of approximately 0,000 with John Head, Fair Finance’s former president, and a company owned by Mr. Click HERE to access the motion for approval of the settlement, which described in detail the reasons why the Trustee believed the settlement should be approved. Head’s allocated share of certain insurance proceeds. Claims against Daniel Laikin were settled in connection with the settlement described above. It is completely your decision whether to sell your claim.The Trustee knows that many creditors lost their retirement or life savings when Fair Finance went into bankruptcy. However, it is important to carefully read and understand the contract that a claims trader provides you before deciding to sell your claim.KCC does not endorse or warrant and is not responsible for any third-party content that may be accessed from this website. § 362), a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. This balance does not include all amounts the Trustee may receive from the settlements described above. Real Estate and Other Assets from Which the Trustee May Recover Funds The following is a list of real estate and other assets from which the Trustee may recover funds for the estate: 1. The Trustee has successfully transitioned the Debtor’s remaining accounts receivable portfolio to a collections agency, Monterey Financial Services, Inc. The settlement with United Expressline provided for monthly payments over the course of 35 months.
On February 8, 2010, an involuntary Chapter 7 petition was filed in the United States Bankruptcy Court for the Northern District of Ohio against Fair Finance Company which has been assigned Case No. On February 18, 2010, Fair Finance Company stipulated to the Chapter 7 filing and the Court appointed Brian Bash, Esq. On February 24, 2010, the Court entered its Notice of Consent Order. Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U. If you believe that you might be a creditor of the Debtor(s) based upon debts arising prior to February 8, 2010 and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The Trustee is unable to estimate how much will be recovered in connection with further collection efforts. Approximately ,350 from the settlement with United Expressline remains outstanding and is secured by the company’s assets and personal guaranties. The Debtor’s former headquarters (Market Street, Akron) has an estimated value of approximately 0,000. This property is a free-standing home located in Gun Barrel City, Texas. The Trustee’s initial diligence suggests a possible value of around 5,000. Tim Durham has assigned to the Trustee his stock in National Lampoon.So, the Trustee asked the bankruptcy court for permission to make an interim distribution to creditors before the end of the bankruptcy case. The contract may place risks and obligations on you which you were not expecting.