Everything Attachments - Bankrupt?

[fried1765]

Just pulled this up, I'm not a lawyer so I don't claim to understand everything here but it looks like you're not getting the product you've paid for unless you can claw your payment back.
Please correct me if I'm wrong.
I'm still waiting on resolution of my claim with PayPal.

I am not an attorney, but that agreement looks to me like a chapter 11 filing, to continue limited business operations, under court supervision.

 

[skeets]

 

[GreensvilleJay]

It may be that 'everything attachments' is NOT the actual 'company ' name..more an 'everyday name', a 'catchy phrase' ? probably some name for it....

The actual court docs list TWO Incorporated companies and Ted C. Those 3 can't sell assets, have to pay the taxes(and interest) and come up with a 'plan' PDQ..so yes, sounds like a Section 11 bankruptcy..

here in Ontario you can have a 'numbered' company yet have a 'business' name. legally the 'numbered' company, say '1234567 Ontario' IS the name that has to be on loans and invoices.

 

[TheOldHokie]

I am not an attorney, but that agreement looks to me like a chapter 11 filing, to continue limited business operations, under court supervision.

Fidelity Bank supervision. He reports to their auditors and they control the purse strings.

Ted Corihet's personal assets have been frozen.

TC has 10 days to provide Fidelity with a THIRTEEN WEEK budgetary plan for continuing "business" operations.

He is further compelled to provide Fidelity with monthly accounting reports that confirm he is meeting that budget.

He is also compelled to provide Fidelity with monthly reports on his efforts to SELL the business "as a going business concern".

In plain speak he is being forced out and his personal assets have been frozen to keep them within the reach of his creditors when the final accounting arrives.

Signatories are T. H. Coriher, T. C. Coriher Implement Company, and Landshark Implements.

Dan

 

[fried1765]

Fidelity Bank supervision. He reports to their auditors and they control the purse strings.

His personal assets have been frozen.

TC has 10 days to provide Fidelity with a THIRTEEN WEEK budgetary plan for continuing "business" operations.

He is further compelled to provide Fidelity with monthly accounting reports that confirm he is meeting that budget.

He is also compelled to provide Fidelity with monthly reports on his efforts to SELL the business "as a going business concern".

In plain speak he is being forced out and his personal assets have been frozen to keep them within the reach of his creditors when the final accounting arrives.

Signatories are T C Coriher, T. C. Coriher Implement Company, and Landshark Implements.

Dan

Yup!

 

[ZTMAN]

I am not an attorney, but that agreement looks to me like a chapter 11 filing, to continue limited business operations, under court supervision.

Bankruptcy filings are in Federal Court. The referenced action is in Wake County, NC, a state court.
Looks like the bank is seeking repayment and is using the proceedings to obtain an injunction to preserve assets.

 

[North Idaho Wolfman]

Yes this is NOT bankruptcy paperwork.

 

[Runs With Scissors]

You guys are overlooking the most important thing here.

Where's Peanut?

 

[GreensvilleJay]

While not a 'bankruptcy', it is very ,very similar.

EVERYONE who has paid for ANYTHING ,should contact Fidelity PDQ ! Show that you're concerned about when/if you'll ever good the goods or money back. Get on there 'contact list' !!

If EA is as popular as some say, the list could have 1,000s of people looking for their money back.
The good news is computers make it a LOT easier these days to do the 'forensic accounting' and see what's what.

Most CC chargebacks are only good for 120 days (?),that varies, so you might not get your money back.

 

[fried1765]

You guys are overlooking the most important thing here.

Where's Peanut?

Me thinks... "Peanut" is at home doing his own yard work, and is likely awaiting unemployment insurance payments.

 

[Daferris]

Me thinks... "Peanut" is at home doing his own yard work, and is likely awaiting unemployment insurance payments.

As I recall Peanut retired a couple of years ago...

 

[MountainMeadows]

You guys are overlooking the most important thing here.

Where's Peanut?

He's gone Rogue and is opening his own implement business...........

 

[North Idaho Wolfman]

While not a 'bankruptcy', it is very ,very similar.

EVERYONE who has paid for ANYTHING ,should contact Fidelity PDQ ! Show that you're concerned about when/if you'll ever good the goods or money back. Get on there 'contact list' !!

If EA is as popular as some say, the list could have 1,000s of people looking for their money back.
The good news is computers make it a LOT easier these days to do the 'forensic accounting' and see what's what.

Most CC chargebacks are only good for 120 days (?),that varies, so you might not get your money back.

Fidelity will not have anything to do with you.
They have nothing to do with you trying to get money/ material back from EA.
They are a bank securing their assets, not yours.

 

[Marengo]

PayPal just sent my money back!
Only took 9 days from when I filed for non delivery.

 

[GreensvilleJay]

That's GREAT news !!!
Have to wonder how PP and CCCs will recover THEIR money from EA ,though I suspect they'll just 'write it off'

 

[TheOldHokie]

PayPal just sent my money back!
Only took 9 days from when I filed for non delivery.

By now EA is probably a well known name in their refund department.

Dan

 

[TheOldHokie]

That's GREAT news !!!
Have to wonder how PP and CCCs will recover THEIR money from EA ,though I suspect they'll just 'write it off'

I doubt PayPal is going to just write off a 6 figure loss.

By now they will have already clawed back any balances he had with them and frozen his accounts. Expect to see their name in the list of unpaid creditors.

Same for other payment processors.

Dan

 

[fried1765]

I doubt PayPal is going to just write off a 6 figure loss.

By now they will have already clawed back any balances he had with them and frozen his accounts. Expect to see their name in the list of unpaid creditors.

Same for other payment processors.

Dan

I kinda doubt that PayPal will have any other option than a total write off.
They will just be another, in a long line of unsecured creditors.

 

[TheOldHokie]

I kinda doubt that PayPal will have any other option than a total write off.
They will just be another, in a long line of unsecured creditors.

They will undobtedly sustain a loss - probably already have. But they will not ",just write it off" without participation in the claims action against T C Corihor et. al. Right alongside a number of other major payment processors with similarly sized claims.

The little guys who wrote a check for a Wicked Awesome Ultralight 55" Unicorn will be bottom of the pyramid.

Dan

 

[Kennyd4110]

Have to wonder how PP and CCCs will recover THEIR money from EA ,though I suspect they'll just 'write it off'

You really wonder about that?

They will use the money form all their other customers to fill that void.