Petters Bankruptcy Related Issues
It is has become axiomatic that bankruptcy courts
work more for the benefit of the distressed debt
industry and attorneys - then for Creditors.

So much so the 3rd Circuit has quoted Congress
in the case of
In Re Arkansas  ( here )

The Arkansas case states that the detrimental
endeavors in Federal BK cases - has fostered
organized bad faith dealings known as a
Bankruptcy Ring
of Attorneys who corrupt the Federal
System of Justice for their own benefit!
Admin of US Courts
releases video(s)
on basics of
bankruptcies
(
here )

germane to this
case is the
341 Creditors
Meeting
video
Bankruptcy
Professor
Johnathon
Hayes
has humor take
on taxes
( here )
Judges Nov 3
ORDER
For
Creditors
Meeting
November 25th
(
here )
ABA
American BAR
Association

Details
on proper
Federal
Receiver
protocols and
Precedents
click  ( here )
UPDATE  --  
Petters
Bankruptcy

HIS HONOR
Gregory F Kishel

Demonstrating very little
tolerance for feigned
efforts and veiled
agendas to carve up the(
here ) that all of Petters
Companies and
consolidated cases of
bankruptcies must File -
Separate Schedules of
Assets, Liabilities, etc.,

This is a
wonderful way to
assure a True
Fact Find

His Honor has
also extended
the time line for
claims filing by
Ordering that the
Debtor shall set a
claims deadline
with proper
notice to All
parties.

By Law if a party
is not noticed
then it has
recourses!

       KUDO"s- His
Honor Kishel
-
for strength &
integrity are
needed here
direly
!
Lancelot Files Bankruptcy

due to Petters debacle & Interim Trustee of Lancelot
puts in Notice of Appearance ("NOA") in Petters  (
here )
Many speculate he is really in protective custody
and has already made a deal with the USA

The soap opera has begun concerning the Federal Court
Receiver and who controls the Petters Bankruptcy cases

While the Dist Ct Judge has issued a Stay on legal actions
in all of Petters cases, the Bankruptcy Ct has begun to see
an influx of Petitions for Relief!

Richard Hettler has submitted requests (
here )

And Arrowhead has made an Emergency petitioned for a
UN-secured Creditors Committee (
here )
341 Creditors meeting Transpired  November 25, 2008 ( here )  
challenges to the Receiver's validity was only a matter of time!

Finally a Creditors files an Objection in MN District Court to
Receiver validity - as ACORN seeks to seize Polaroid under
Uniform Commercial Code (
here )

NEWS Acorn ( here ) and LG Electronics (here) file Objections to
Receivers Motion to Amend [expand]
Receiver counters (
here ) as the Receiver erroneously states it is
doing so on behalf of US Attorney

US Trustee appoints Official Unsecured Creditors Committee
Petters Bankruptcy cases
(here)
- Apriven
Creditor petitions
Petters
Bankruptcy Cases

for
Rule 2004
Examination
( here ) -  Federal
Receiver denies
Creditor right to
review Books n
Records
and
Receiver only has
$9000 in account
that $45 million
was wired into
(
here ) and ( here )
United States
Trustee
Manuals Handbooks
and Guidelines
( here )
Unsecured Creditors Comm seeks to appoint
Huron Consulting in Petters bankruptcies (
here)

US Trustee inappropriate attempt to appoint
Doug Kelly as Trustee for Petters BK's
( here )

List of 20 Lrgst Creditors (
here) Statement of Financial Affairs
(SOFA) (
here) and Summary of Assets Liabilities etc (here)-
These will most assuredly will be disputed by many - greatly!

US Trustee's Limited Objection
to having 2 separate US Trustee's
( here )

Acorn Objects to Receiver's contradiction of protecting Liens (
here )

Ritchie Capital et al - Motion on appointment US Trustee ( here )
Petters Bankruptcy PCI Schedules of Assets and Liabilities( fees )
NEWS -  Receivers
request approved
permitting certain
petters properties to
go into foreclosure
(
here )
in
Dreier Fraud the
Receiver gets
$650+ thousand
approved and gets
Emergency US
Trustee see
Law.com (
here )
Bankruptcy Court approves settlement of one Landlord (here)  
and approving transfer of Petters interest in 50% for $1 (
here)&
(
here)  Polaroid Creditors 344 Meeting scheduled for Feb 19 2009 (here)
Debtor filings of Statement of Financial Affairs (SOFA)
part1 (
here) part2 (here) part3 (here)
Receiver firm on behalf of Polaroid accuses Acorn of
complicity in Polaroid Petters scheme (
here)
Petters PCI Creditors petition right to Intervene
in Polaroid v Acorn (
here)
BK Judge grants permission to keep items secret (here)
Capn' Obvious points out  report on Trustee issues (here)
Ritchie Capital Petitions the MN Bankruptcy Court for right to
participate in selecting US Trustee
( here )



US Trustee appoints Official Unsecured CreditorsCommittee
Petters Bankruptcy cases
(here)

White Collar Professor Mentions Petters Indictment
and Star Tribune Reporters
( here )

Star Tribune story on Committee and Polaroid issues
by Jennifer Bjorhus
 ( here )

Kosher is as Kosher does - example of a Receiver fiduciary
being kosher
( here ) & ( here )

Editor has seen 1st hand what billion dollar powerhouses such as Bain
( involved in Fingerhut)  can DO and the bogus results that can
transpire due to billion dollar influence!
(here)