On August 7, 2013, S. Gregory Hays was appointed Interim Trustee in the Trade AM International bankruptcy case.  For more details please see the documents tab.

March 25, 2014 @ 10:30 am. Hearing scheduled for Trustee’s Motion for Authority to Use Cash Collateral in Order to Pay Certain Tax Claims

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 ghays@haysconsulting.net.

Appointed Receiver of this failed loft condo project.

Mr. Hays was appointed as the Fund Administrator on July 7, 2009 to conduct claims procedures, develop a plan of distribution and effectuate a distribution of fund to investors for Tri-Star Investment Group, L.L.C. a/k/a Tri-Star Investment Group (“Tri-Star”). On December 10, 2002, the Securities and Exchange Commission (“SEC”) filed a lawsuit in federal court in Atlanta, Georgia, against Defendants James L. George, Paul E. Brodhagen, and Michael J. Wright relating to their roles as facilitators of a fraudulent securities offering involving Tri-Star. The Court has now entered Final Judgments against each of the Defendants requiring Defendants George and Wright to make payments into the Registry of the Court of civil penalties and a disgorgement of the profits they gained in the scheme, as well as pre-judgment interest. Defendant Brodhagen was not required to make such payments due to his demonstrated inability to pay.

Defendants George and Wright have now paid the full amounts required by the Final Judgments entered against them into the Registry of the Court. As a result, the total amount of the Registry Funds as of May 29, 2009, was $341,301.91. On July 7, 2009, the Court appointed Mr. Hays to act as the Funds Administrator in the case to oversee the administration and distribution of the Registry Funds to defrauded investors in the Tri-Star scheme.

INVESTOR UPDATE ON MAY 20, 2010

The Funds Administrator filed a motion for approval of distribution on April 21, 2010. The Funds Administrator issued checks for allowed claims. The distribution is 3.78% of allowed claims.

The Securities & Exchange Commission filed the above reference complaint in December 2005 in the United States District Court in Eastern District of Texas. Mr. Hays was appointed as Receiver by the Honorable Richard A. Schell. The receivership is for six individuals and six entities that sold over $400 million in investments in an offshore bank deposit program. The principal entered a guilty plea. The case generated significant press and TV coverage including stories in the Atlanta Journal Constitution, Sports Illustrated, and the Dallas Morning News.

INVESTOR UPDATE April 15, 2014

The Court entered an Order Terminating Receivership on April 10, 2014.  Please see the documents section for additional details.