The Consolidated Resorts Bankruptcy 341 Hearing
Live from Las Vegas, Nevada
Robert Paisola Reports Live from Las Vegas, Nevada
Wednesday August 12, 2009
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Good Afternoon Ladies and Gentlemen, This hearing is being continued until September 16, 2009 but..., Robert Paisola Reports
There are few times in the life of a journalist where we are left speechless. We are trained in the areas of human psychology that permit us to dig into a story, present the facts, and our job is complete. This story is much, much different.
The incidents that I am about to explain to you are being presented as they happened, without the benefit of a live recording, but with scorched faces of victims of Consolidated Resorts in my mind who were literally clinging for life as they came from every direction to the Federal Courthouse in Las Vegas, Nevada to seek some kind of guidance on how to deal with this company, Consolidated Resorts - Tahiti Village et. al. who had taken everything that they had, canceled their insurance benefits, bounced their payroll checks and violated the FEDERAL COBRA LAWS , as they sat in the Federal Courtroom listening to A Federal Bankruptcy Trustee William A. Leonard , 5030 Paradise Road , B216, Las Vegas, NV 89119 , TEL 702-262-9322, FAX: 702-262-9209 who quickly laid out his ground rules to the standing room only crowd at this normally mundane Bankruptcy Examination Hearing , called a 341 Hearing, wherein both victim employees and victim purchasers who attempted to seek justice and showed up in unison only to be threatened to be kicked out by Leonard if any cell phone went off or any type of outburst came from the large audience"
Prior to the official beginning of the hearing, Leonard fielded questions from the Victims Present, and all but told the owner creditors to simply "leave now, as this will not concern you"
With that welcome, We asked Trustee Leonard if the hearing would be available in audio format, and he stated that it would. Thank god, as the data that was obtained and delivered during this mathematical nightmare hearing would take a team of forensic scientist’s months to piece the Consolidated Resorts - Tahiti Village - Arthur Spector Money Puzzle together, but much of the work is done... because we did it!
We had already done much of the work and knew many of the answers that the attorneys and the Trustee himself, failed to even consider. We need the tape and the entire transcript of the hearing. If you can get it please step up NOW and get it for us (email email@example.com) we will immediately post it on our 1500 websites around the world.
We need this CD immediately. If you were at the meeting, please send us a message with the subject 341 Meeting, and include your Name Address, Phone, Email and Story. We will be doing live interviews for broadcast for the next week.
If you have a story you want to tell the world, email us for the next available time for a live interview in Las Vegas, Nevada this week at investigations@ConsolidatedResorts.Info
What the Meeting of Creditors Is All About. As with most bankruptcies, the Meeting of Creditors is usually the only real “event” of any importance during the entire case, and it is generally the first and only time that the attorney and his clients will have to appear in Court. This hearing was much different, and Trustee William A. Leonard started the hearing by stating " This hearing will be officially continued until September 26, 2009 at 1:00 PM, however, Leonard, surrounded by his personal attorney and counsel for Consolidated Resorts, including LENARD E. SCHWARTZER, Attorney Blair, and Attorney Japinski (Sp) were grilled by Leonard on the 14 cases that had been merged for the purposes of this hearing.
The Cases Are as Follows:
09-22030 Destinations Unlimited, LLC
09-22032 Consolidated Media, LLC
09-22033 CRI Travel Holdings, LLC
09-22034 Consolidated Resorts Travel, LLC
09-22036 Consolidated Maui, Inc
09-22037 Consolidated Kona, Inc
09-22038 Lahaina Ticket Company, Inc
09-22039 Soleil PS, LLC
09-22040 Soleil LV, LLC
09-22041 Consolidated Tahiti, Inc
09-22042 Consolidated Orlando, Inc
09-22043 Consolidated Tickets, LLC
09-22031 Consolidated Realty, Inc
In these hearings, Creditors rarely show up, it is primarily an opportunity for the trustee to examine the debtor. This was a rare case and if this is any indication of what is to come, Counsel for the above named companies have a LOT of explaining to do to the American Public, the Creditors, and Former Employees.
Ideally, the actual hearing is supposed to be a very smooth and routine meeting, lasting just a few minutes, and then everyone is happily on their way. However, there are a myriad of things that can go wrong at the meeting much to everyone’s consternation and dismay. Fortunately, most problems can be avoided with proper planning and preparation, but this case was the exception.
In the audience sat the long haired Michael Kaplin, the former leader of Consolidated.
The trustee announced that HE WAS GOING TO COMPEL ARTHUR SPECTOR TO APPEAR BEFORE HIM. This was an audience favorite, and if today’s hearing is any indication of what is to come, Spector can start planning his prison term, along with his attorneys who you will hear in Live Audio, stuttering, jokes and them stating over and over “We do not know"
We could go on and on, and ABC News and many other news outlets around the world are following this case. But seeing it in person sheds a whole new light on the depth of deceit of the shell companies that were used by Arthur Spector to hide assets, transfer funds, and to scam America. We know a lot about this matter.
For your review, this is the docket as of today. There are thousands of pages, but if you have a story to tell contact us NOW and we will film you LIVE from Las Vegas, Nevada on HD Television.
The link to the docket that is updated is www.cribankruptcy.com which is NOT OUR SITE, but the site of the Trustee for this case.
Just so you can see where he is coming from, here is a brief Q and A about how he wants you to deal with this situation...
QUESTION: If I am a timeshare owner with Consolidated Resorts, how do the Chapter 7 bankruptcy cases of Consolidated Resorts and its related entities affect me?
ANSWER: While Consolidated Resorts and its related entities filed for Chapter 7 bankruptcy relief on July 7th and 8th, your timeshare resort property itself is not in bankruptcy nor is your timeshare resort itself in danger of closing or otherwise going out of business. Rather, these Chapter 7 bankruptcy cases of the original developer entities do NOT directly affect your use and enjoyment of your rights as a timeshare owner at your specific resort property -- including your exchange rights -- so long as you remain current on your own obligations. Your duties and obligations as a timeshare owner continue unchanged -- both as to payments for the balance due on your purchase contract for your timeshare interest and your separate and continuing obligation to pay timeshare maintenance assessments.
QUESTION: Can I still make reservations at the timeshare resorts?
ANSWER: Yes. All of the resorts will continue to operate uninterrupted and all reservations are being honored so owners do not need to worry. The bankruptcy of the timeshare development companies do not affect the on-going operations of the management of the resorts and it is business as usual for the management companies and the individual resorts.
QUESTION: What caused Consolidated Resorts to file bankruptcy?
ANSWER: The drastic change in the lending environment resulted in Consolidated Resorts not having sufficient financing to continue its day-to-day operations or to build additional projects. Without the necessary financing, the Consolidated Resorts could not continue to operate.
QUESTION: If I have further questions about my timeshare interest and how these bankruptcy cases impact me, who should I call?
ANSWER: You can call the toll-free line maintained by Consolidated Resorts at 1-800-231-3111 for additional information.
Ok... You decide what to do.... Sure William Leonard, I will happily pay my fees and assessments even though everything that I see read and feel smells and looks like fraud! Right....
Here is the docket as of today and we will be posting more audio, video and worldwide news coverage on this as it occurs, and you can bet we will stay as long as it takes to get you, the American Public, the absolute truth.
Special thanks to our investigative partners in Las Vegas, Hawaii and Orlando.
This is the docket as of today for your review:
In re Consolidated Resorts, Inc., Case No. 09-22035 (LBR) Jointly Administered
United States Bankruptcy Court, District of Nevada
|Recent Case Filings: Please find the following pleadings filed re: Consolidated Resorts, Inc., et al.: |
Order Establishing Case Management Procedures
Copy of the Lead Case Docket as of August 10, 2009
|Access to Case Pleadings: To access all pleadings in the bankruptcy cases, click HERE. |
|FAQ for Timeshare Owners: Please click HERE to view the FAQ for Timeshare Owners.. |
|General Information: On July 7, 2009, each of the Debtors filed voluntary petitions for relief under Chapter 7 of the United States Bankruptcy Code (the "Bankruptcy Code"). The 14 cases were assigned case numbers listed below (collectively, the "Bankruptcy Cases"). The Bankruptcy Cases are pending before the Honorable Linda B. Riegle, Bankruptcy Judge, United States Bankruptcy Court, District of Nevada. |
Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U.S.C. § 362), a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. If you believe that you might be a creditor of the Debtor(s) based upon debts arising prior to July 7, 2009, and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The staff of the Clerk of the Bankruptcy Court and the staff of Kurtzman Carson Consultants LLC are not permitted to give legal advice.
|Important Dates, Deadlines & Documents: Some dates, deadlines and documents in the Debtors' Bankruptcy Cases that may be relevant to interested parties are set forth below:|
|Meeting of Creditors: The meeting of creditors pursuant to section 341 of the Bankruptcy Code (the "341 Meeting") has been scheduled for August 12, 2009 at 4:00 p.m. prevailing Pacific Time|
| 300 Las Vegas Blvd., South, Room 1500 |
Las Vegas, NV 89101
Rule 9001(5) of the Federal Rules of Bankruptcy Procedure requires that a representative of the Debtors appear at the Meeting of Creditors for the purpose of being examined under oath by a representative of the Office of the United States Trustee and by any interested parties that attend the meeting. Creditors are welcome, but not required, to attend the meeting. The Meeting of Creditors may be continued or adjourned by notice at the meeting, without further written notice to creditors.
|Parties and Addresses:|
|Additional Links: |
Consolidated Resorts, Inc. http://crihi.com/index.aspx
|Note: Kurtzman Carson Consultants LLC ("KCC”) maintains this website at the direction of Sullivan, Hill, Lewin, Rez & Engel, the General Counsel for Chapter 7 Trustee. KCC maintains this website for the public's convenience and, while KCC makes every attempt to assure the accuracy of the information contained herein, this website is not the website of the United States Bankruptcy Court and does not contain the complete, official record of the Bankruptcy Court. All documents filed with the Court, including lists of the Debtors' assets and liabilities, are available for inspection at the Clerk of the Bankruptcy Court, District of Nevada.|
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THE CONSOLIDATED RESORTS DOCKET: