Ch. 7 Bankruptcy Filed 9/6/18

This IS that thread. There are hundreds of us.

 

They filed personally. Not under the business.

 

Good to know. I haven’t read it and just posted basic guidance. At this point I need a class in speed reading just to keep up!

 

With as many chapter 7’s I see in the aviation industry, the filer never sees a personal hit.

 

As I’ve said many times, I hate this area of law and no longer oversee it for our office. My entity just writes Chapter 7 cases off. Turnip rule.

 

Im sorry to all of you that already have there products on your truck! Your reping a low company now!

 

That is not correct........

Reference the following posts: #69, #94

 

It’s a shitty situation for everyone involved, but more-so for the customers. South Florida is full of rich business people who have done this same thing.

 

Actually Lasernut built my armor. #lasernutbilt

 

I agree with you. Unfortunately many of these people make a literal living doing this. They live extravagant lives in cycles, generally around their bankruptcy schedules. I’ve seen it for years. The people that really get screwed are the customers and suppliers. Many people are more than willing to go through a few years of having nothing for a few years of spending like maniacs to have everything. I don’t understand that mentality.

 

Oh shit, I missed that. Yeah, they’re fucked. I saw on FB where the it was a business filing. Guess that was incorrect.

 

Lot of clean up in here.. let’s make it be less of a mess with proceeding posts.

Thx.

 

Please clarify. Who is fucked and how? I can’t seem to follow the conversation. Thanks!

 

Spot on! No reason to let one bad vendor ruin it for the good ones.

 

How does the filing Chapter 7 protect a person from credit collection, and other legal proceedings?
The moment Chapter 7 is filed the automatic stay goes into effect which acts as restraining order against all collection and other financial legal proceedings pending against that person. After the case is filed, the court will mail a notice to all creditors ordering them to refrain from any further action against the person. Any creditor who intentionally violates the automatic stay may be held in contempt of court and may be liable in damages to the person filing.

 

Ok. That’s shitty. Thank you.

 

I don't have a hand in this mess, but with this "message", ch7 or not, they should be put in jail/prison because there was most definitely a crime committed here!!! What type/category of a crime I don't know, but they're getting away a bit too clean without paying any real consequences!!! While others go to jail/prison for the more pettiest of crimes!!! Just saying...

Finally, I admit I did not read 100% of this thread, but it is CLEARLY NOT rocket science for what they did here!!!

 

Everybody. If they are filing Bankruptcy under their own names and not as Pelfreybilt, they are going to be forced to liquidate everything. The monies from the liquidation will be divided up, legal costs come out first, then any large debts are paid, and then percentages get paid out from there. At least that’s how it got handled in the case I was involved in with the company I worked for several years ago. Since I was technically a contractor, I invoiced them for any flights I did and they would send me a check at the end of the following month. I was owed 2 months of pay in the amount of $40k and I got about $7k back.

 

That time stamped email should be enough to help the judge call bullshit on their filing.

 

I have been posting links throughout. Honestly, this sucks. If I were in the shoes of so many good people on here I would call my card company, or PayPal, and try to initiate a dispute and let them do the work for me. Also, know that Google is full of good and bad information. Don’t believe everything you read. The federal court system link I posted has some good information. Everyone with a dog in this fight will be noticed. Read the notices carefully. But, any and every one with money hanging out there should dispute it though their card company ASAP. I have not read the filing and have no idea if it is sufficient or not. I think @TLA said it was not but I admit I’m a bit dizzy from wading through all this.