Consolidated Resorts Seeks Bankruptcy - HERE IS THE INFORMATION , Robert Paisola Reports

CONSOLIDATED RESORTS CHAPTER 7 BANKRUPTCY FILED IN LAS VEGAS NEVADA
CASE 09-22035-lbr
CHAPTER 7 NO ASSETS
CONSOLIDATED RESORTS, INC
801 SOUTH RAMPART BLVD SUITE 200
LAS VEGAS, NEVADA 89145

09-22035-lbr CONSOLIDATED RESORTS, INC.
Case type: bk Chapter: 7 Asset: No Vol: v Judge: LINDA B. RIEGLE
Date filed: 07/07/2009 Date of last filing: 07/17/2009



History

Doc.
No. Dates Description
1 Filed & Entered: 07/07/2009
Voluntary Petition (Chapter 7)
4 Filed: 07/07/2009
Entered: 07/09/2009
Set Deficient Filing Deadlines
-- Filed & Entered: 07/08/2009
Add Judge
-- Filed & Entered: 07/08/2009
Add Trustee
2 Filed & Entered: 07/08/2009
Declaration Re: Electronic Filing
3 Filed & Entered: 07/08/2009
Statement of Social Security Number(s)
5 Filed & Entered: 07/09/2009
Incomplete and/or Deficient Filing-Ch 7 Non-Individual (BNC)
6 Filed & Entered: 07/10/2009
Auto-docket of credit card
7 Filed & Entered: 07/11/2009
BNC Certificate of Mailing
8 Filed & Entered: 07/13/2009
Meeting of Creditors Chapter 7 No Asset Non-Individual (BNC)
9 Filed & Entered: 07/14/2009
Notice of Appearance and Request for Notice
10 Filed & Entered: 07/15/2009
Notice of Appearance and Request for Notice
11 Filed & Entered: 07/16/2009
Scheduling Conference
12 Filed & Entered: 07/16/2009
Certificate of Service
13 Filed & Entered: 07/16/2009
BNC Certificate of Mailing - Meeting of Creditors
14 Filed & Entered: 07/17/2009
Notice of Appearance and Request for Notice
15 Filed & Entered: 07/17/2009
Motion for Relief from Stay
16 Filed & Entered: 07/17/2009
Auto-docket of credit card
17 Filed & Entered: 07/17/2009
Motion for Order Shortening Time
18 Filed & Entered: 07/17/2009
Attorney Information Sheet


Consolidated Resorts Inc., a Las Vegas time-share developer with 14 resorts from Hawaii to Orlando, filed for bankruptcy-court protection on Tuesday.

The company filed under Chapter 7 of the U.S. bankruptcy code in federal bankruptcy court in Nevada. Chapter 7 allows an orderly liquidation. Consolidated estimated it had assets of $1 million to $10 million and liabilities of $100 million to $500 million.

The bankruptcy filing won't affect the operation of Consolidated's resorts because they're owned by time-share owners and managed by companies that aren't part of the filing, Lenard Schwartzer, a lawyer for Consolidated, said. Consolidated owes GMAC Financial Services, the company's biggest creditor, more than $200 million, Mr. Schwartzer said.

Late last month, Consolidated abruptly let go its marketing and sales staff and turned away potential buyers. At the time, a spokesman said the company was closing amid a lending environment that "made it impossible to continue this company." The "warehouse" lines of credit that Consolidated used to make loans to customers come due this fall, and lenders led by GMAC have refused to extend them, Mr. Schwartzer said.

A Goldman Sachs Group Inc. real-estate private-equity fund bought Consolidated in 2007. Goldman and GMAC declined to comment.

Did Tahiti Village Close its Doors? Did the FBI Close it Down? Robert Paisola Reports Live

This is a message that we received today from an employee at Consolidated Resorts. If you were there. Send us the details. NOW is the time to tell YOUR story to America. ARTHUR AND TODD SPECTOR are going to pay a huge cost for the financial scam that they pulled on America and the PUBLIC COMPANY GOLDMAN SACHS. Watch the fireworks, because this is when the FBI and the SEC start to enter the picture.

Contact us now at victims@tahitilawsuit.com and employees@tahitilawsuit.com

This is a DIRECT QUOTE....

WORD HAS IT FROM A VERY RELIABLE SOURCE THAT CONSOLIDATED RESORTS "TAHITI VILLAGE" CLOSED DOWN IT'S OPERATION TODAY AND SENT ALL OF THE EMPLOYEES HOME. TODD SPECTOR STOOD IN FRONT OF THE ROOM WITH A TEAR IN HIS EYE AND INFORMED THE EMPLOYEES THAT IT HAD COME TO AN END. IT IS NOT CLEAR WETHER THEY ARE FILING FOR BANKRUPTCY AND LEAVING ALL OF THEIR OWNERS HANGING BUT THIS IS MOST LIKELY. OH WELL, PAYBACK TIME. BUT I GUESS ARTHUR AND TODD SPECTOR AREN'T HURTING TOO MUCH AFTER HAVING RIPPED OFF GOLDMAN SACHS FOR THREE QUARTERS OF A BILLION DOLLARS LAST YEAR FOR 75% OWNERSHIP OF THE COMPANY. I WONDER WHAT GOLDMAN IS THINKING NOW? WE OWN 75% OF WHAT? HOW ABOUT ALL THOSE POOR PEOPLE THAT SPENT THEIR HARD EARNED MONEY FOR "A PIECE OF THE LAS VEGAS STRIP" AND FINANCED IT AT 16.9% INTEREST? WHAT DO THEY OWN NOW? FOR THOSE OF YOU WHO WOULD LIKE ANSWERS TO THESE QUESTIONS, CONTACT ARTHUR SPECTOR AT ASNY CORPORATION.

AMERICA... DO NOT PAY ONE DIME TO THIS COMPANY NO MATTER WHAT YOU SIGHED OR WHAT THEY SAY... WE WILL BE COVERING THIS LIVE