On the same day as the recent CURepossession article; ART Asset Adjusters, LLC Files Motion for the Appointment of Receivership posted, the law office of Fenmore Craig, PC filed a “Statement of Position Re the Application for the Appointment of a Receiver.” Fenmore Craig PC has been appointed by the other 66% shareholders in the company. In their filing they allege that; “Much of the allegations in the Complaint and Application are self-serving, incomplete, or inaccurate. “
The represented defendants listed are; Ames Enterprises, Inc., Accurate Adjustments, Inc., 1st Adjusters, Inc, WJRP Holdings, LLC, Weiss Family Ventures, LLC, Able Auto Adjusters, Inc., Joseph Hale, Rick Campbell, John Hale, William Hale, Justin Clayton, Mark Clayton and Steve Simons.
Taking note of the particular assertions made against Steve Simons of Paramount Recovery, the filing states; “they appear to have no other purpose than to sully Mr. Simons’ representation and cast aspersions and blame for Defendant’s failure to operate efficiently, effectively and profitably. Such allegations are unnecessary and inappropriate.”
The position filing alleges that the Plaintiffs, being minority owners of a mere 33%, did not have the legal standing to make major decisions on their behalf and that such decisions, according to the company Operating Agreement, require a 75% supermajority.
The filing states that the Plaintiffs’ Complaint and Application are replete with false allegations that are intended to deflect attention away from their own numerous management failures and breaches of fiduciary duty,”
Despite these allegations, the defendants go on to agree that “an impasse has been reached and that the appointment of a receiver is in the best interests of the stake holders and parties in interests surrounding the Defendant.”
Showing further assertion of their rights under the Operating Agreement, the defendants are requesting that “Mr. P. Gregg Curry of Ankura Consulting Group LLC would be an appropriate and qualified receiver for Defendant.
While the first hearing was held on the 13th, the online court calendar of the case does not as of the moment of this article report any decision or dates for future hearings.
Facebook Comments