Hays was appointed as Receiver for this operating business in Reno, Nevada on September 26, 2016.
Jova/Daniels/Busby Inc., one of Atlanta’s oldest architectural firms, founded in 1966, filed Ch. 7 bankruptcy on January 14, 2013 and Mr. Hays was appointed as the Chapter 7 trustee. The Trustee is in process of investigating the case and determining the status of client engagements.
Alpha Protective Services, Inc. (“APSI”) filed a Chapter 11 bankruptcy petition on April 12, 2012 and
continued operations during the Chapter 11 with the consent of its primary lender. APSI was allowed to
use the Lender’s cash collateral under strict guidelines to fund business operations including
payroll. After APSI defaulted under the terms of those agreements, the Lender withdrew its consent
and refused to consent to payroll being funded from the cash collateral and Neil Gordon was appointed
as the Chapter 11 trustee( the “Trustee”) on December 18, 2012.
On December 14, 2012, the Bankruptcy Court began the first day of hearings on whether APSI would be
permitted to continue using the lender’s cash collateral for payroll and other purposes. That hearing
concluded after a full day of evidence and legal arguments on December 20, 2012, and the Court
converted the Chapter 11 bankruptcy case to Chapter 7 and Neil Gordon continued to serve as the
Chapter 7 trustee. A copy of the appointment is included under the Docket Tab at
www.haysconsulting.net/Alpha . The Court also denied APSI the use of any of the lender’s cash
collateral to make payroll or for any other purpose. The result is that APSI was immediately closed and
all employees terminated.
The Trustee’s role is to liquidate all assets, pursue claims from litigation, and t maximize the
distribution to creditors including former employees Since the closure of APSI, the Trustee and his
advisors located and liquidated the assets of the company and is pursuing certain litigation claims. The
Report of Sale and Orders approving settlements are available for review at the Docket Tab.
In addition, the 401(k) plan that was available for certain employees was terminated, and funds were
distributed to participants who provided the plan distribution instructions. The final audit for the 401(k)
plan (covering 2013) will occur this spring.
As of March 1, 2014, a lawsuit filed by the U.S. Department of Labor (“DOL”) is pending against APSI and
the Trustee is working on issues regarding payroll with DOL. The Trustee anticipates filing various
lawsuits to recover funds for the Bankruptcy Estate. After the disposition of these lawsuits, the Trustee
is hopeful that he will be able make a distribution to creditors. At this time, the Trustee cannot predict
when or how much the distribution to creditors will be.
The Trustee will provide further updates on this web site as issues are resolved and the case progresses
in the bankruptcy court.
International Estate Brokers d/b/a Watch Brokers operated a consignment and retail sales and repair business for luxury watches and related items. Based in Atlanta, GA the company principally operated its business via the Internet and attracted a national and international clientele.
On September 19, 2012, the Honorable Judge Cynthia Wright of the Superior Court of Fulton County appointed Christopher J. Tierney as the Receiver in response to a Complaint filed by the State of Georgia ex rel. John D. Sours, Administrator of the Fair Business Practices Act.
People who feel that they may have a claim against International Estate Brokers d/b/a Watch Brokers should send an email to the Receiver at email@example.com with their complete contact information (name, address, phone number and email address) to assist the Receiver with future communications.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22392 / June 12, 2012
SEC v. Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC, Civil Action No. 1:12-cv-01996-TWT (U.S. District Court for the Northern District of Georgia)
Court Issues Preliminary Injunction against Atlanta Investment Advisor and His Company
On June 11, 2012, the Honorable Thomas W. Thrash of the United States District Court for the Northern District of Georgia issued an order of preliminary injunction against violations of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 in U.S. Securities and Exchange Commission’s case against Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC. The order also allows for expedited discovery, asset freezes, prevents the destruction or concealment of documents and requires an accounting. Lighthouse, an investment advisor located in Atlanta and registered with the State of Georgia, has been owned and operated by DeHaan since 2007.
The Commission filed its case against DeHaan and Lighthouse on Saturday, June 9, 2012. The Commission’s complaint alleged that from approximately January 2011 through early May 2012, DeHaan moved approximately $1.2 million in funds belonging to his clients from their accounts at a custodial broker-dealer into a bank account in Lighthouse’s name that he controlled, thus gaining custody and control of these client assets. DeHaan and Lighthouse told the clients that these funds would be used to open new accounts at another broker-dealer. Once in this account, at least some of these funds were moved to a personal account belong to DeHaan and to accounts used by Lighthouse for business expenses. At least $600,000 in client funds remains unaccounted for. DeHaan was also alleged to have provided false documents to the Commission’s staff and to an examiner for the State of Georgia.
DeHaan and Lighthouse consented to the entry of the order providing for a preliminary injunction and other relief without admitting or denying the allegations in the Commission’s complaint. The Commission may seek additional relief, such as a permanent injunction, disgorgement of any ill-gotten gains with prejudgment interest and civil penalties, at a later time.
For further information, see Litigation Release No. 22390 (June 11, 2012).
Initial distribution checks pursuant to the confirmed Plan of Distribution will be mailed on July 3, 2013. If you have an IRA account, the funds were sent to the IRA Custodian and you should contact First Trust Company of Onaga.
Founded in 1987, The Money Tree, Inc. (“The Money Tree” or the “Company”) operated 46 consumer finance branch offices in Georgia, Florida, Alabama and Louisiana. Based in Bainbridge, Georgia, the Company originated and serviced direct consumer loans, consumer sales finance contracts and motor vehicle installment sales contracts. The Money Tree also sold retail merchandise (principally furniture, appliances and electronics) at certain branch office locations and operated two used automobile dealerships in Georgia operated separately under the “Best Buy Auto” brand name.
On December 16, 2011, each of the Debtors listed below filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”). The cases were assigned the case numbers listed below (collectively, the “Bankruptcy Cases”) and are jointly administered under case no. 11-12254. The Bankruptcy Cases are pending before the Honorable William R. Sawyer in the United States Bankruptcy Court for the Middle District of Alabama.
Please see Documents section for additional information and a current status report.
On October 23, 2012, the Trustee filed his Third Status Report. Click here to review.
Email the Trustee at firstname.lastname@example.org.