Stephanie DeYoung says "I Object" - Objection to Obsidian Finance, Kevin Padrick & Tonkon Torp Fees
We are Interested Parties who are concerned about the cost of this bankruptcy case to unsecured creditors, LLC’s and LLC Members all of whom are suffering financially from the aftermath of this case. On April 22, 2009 Century Drive Mobile Home Park, LLC filed a proof of claim(1) with the Court for $585,584.68 (Exhibit A) representing shareholders’ share of proceeds from a 7/31/08 sale of 20.17% of the property to Jim Hull via a Tenant in Common Agreement. Checks were written directly to Inland Capital Corp (debtor’s affiliated lending company). Pursuant to the Century’s operating agreement, capital contributions were required to be made to cover the $80K per year of negative cash flow arising from distribution of these funds without paying down the related debt associated with this sale.
We are Interested Parties who don’t understand how the actions of the Trustee, i.e. no cooperation(2), no communication, and conducting activities that violate our operating agreements are able to create value for the estate. We believe these actions are a wanton waste of time and money, which increase legal and professional fees and decrease the assets in the estate, while increasing estate liabilities.
