Question:
Thorne Apple Valley filed chapter 11 March 5, 1999. They owe me in excess of $7,000.
I consulted my attorney and he said to expect .10 cents on the dollar to be paid in 5 years. (He called it the American way) He also said that the trustee was my friend in this situation. Is it possible that the Trustee may be able to help me with the loss.
The paralegal for TAV will not release any information about the trustee except her name.
The paralegal refers me to the Attorney Chair Committee for Unsecured Carriers. I have a feeling that this attorney is not going to be especially helpful.
Is there a way to make a pleaing with the trustee and is there a way to get a contact point for her through court documentation.
This case is file in the US Bankruptcy Court in Detroit MI.
Thanks
Betsy

Answer:

I'm not sure if this is true, but you may be able to seize property from the company that is of equal value if that property has not been protected in the bankruptcy. Again, I'm not sure if this is true or not, so you may want to ask that to your attorney. Opie may also know the answer.
Erik.

Answer:

Hairbear, you take property like that and I will quarranty that the cops will be knocking on your door.
Being in the situation that you find yourself in is not rare. Infact it a common situation. Their is not a whole lot you can do except to go to court and get a judgment. This will put you and a list of creditors that have to be payed back. But here is a bad part, you will be so far down the list that you may not see a dime.
You have few choices here from what information that you have given. Ethere make a deal with company and get partial payment or X amount of cents on the dollar or wait the situation out and see what happens or take them to court.

Answer:

Hairbear,
I'm going thru the same thing with Jamco. My $1000 claim is so far down the list that I don't really expect to see anything. Some carriers are in the 100's of thousands of dollars.
However, call Gary Green at OOIDA (800-444-5791) and talk to him (No one else). Tell him I said to call (mention John the Board member who sends all the Jamco paperwork to him- he'll know).
Personally, I think you're going to write this one off. The company will be sold or taken over (IBP has already offered) but Joel insists on trying to bring it back. All he's done so far is to succeed in losing his and his dad's stake, about $74 million dollars so far. Doesn't look like us stockholders will get anything either, so for what it's worth, you're not alone.
Did you haul directly for them or a broker?
The joys of being your own boss. Want to expand and buy another company?
HJ
ps - If OOIDA does get anything for you I think their fee is something like 5%. Well worth it.

Answer:

Thank you everyone for your advice.
Honest John- You seem very knowledgeable about the internal make up of TAV. I read your profile and I noticed you are from Detroit, I would like to plead my position to the Trustee but, I am unable to get an address or phone number for the trustee.
Her name is Claretta Evans.
I hauled direct for TAV, so there is no ones else I can go back on. Any help is greatly appreciated.

Answer:

Hairbear -
You were informed correctly, in that you "might get really lucky" and get awarded $.10 to the dollar. I had the same situation with a college I went to and that was what my lawyer told me also. Unfortunately, I was never awarded even that $.10. I guess I was just a peon compared to the rest of the people they owed. Best of luck!

Answer:

Is this company that you hauled for the shipper or receiver? Was the non-recourse section of the bill of lading executed (section 7)?
I am surprised that there is a Trustee appointed in a Chapter 11 case. That is unusual. The debtor in a case under chapter 11 is usually a debtor in possession. This means that the debtor continues to run the company under court supervision and the supervision of a committee of unsecured creditors. Tell me more about the nature of the work that you did for this debtor.
Opie.

Answer:

Here is all the information I can supply to you. Thorne Apple Valley is a manufacturer of edible (sometimes) goods. (hotdogs ect...)
I hauled products direct (no brokers)from their plants or cold storages to TAV customers.
They filed chapter 11 in March, I was sent paperwork from bankruptcy court for all monies owed by TAV to me.
TAV refered me to a paralegal. She was not helpful. The information I received from her was to contact Louis Rochkind. He is the attorney for the committee for unsecured carriers.
My attorney told me to contact the trustee for TAV. She may give me a more favorable allotment if I plead my case to her. I cannot find an address or phone number to contact this lady. Will this information be listed in the documentation filed in bankruptcy court?

Answer:

Hairbear,
Tried to get back to you earlier but the RT program ate my password and wouldn't recognize me. Monty says this has happened to others. Thought they had kicked me off at first. Then our power went out most of the day.
Anyway, you're probably SOL on this TAVI thing. Getting hold of the trustee won't do you any good at this point. Right now all that's happening is the formation of committees to argue amongst themselves about who's more important and should get the biggest, or only, share of the pie. In this case, there doesn't seem to be filling left in the piecrust. I'm sure your $7000 is quite important (it would be to me) to you, but, in reality, there are carriers and others that are probably owed in the 6 figure neighborhood, or more.
Plus, TAVI just borrowed another $7 million to make it thru their busy season. The word around here is that Joel still wants to try and bring it back as an independent rather than give it up for only one reason - anybody buying them would fire Joel immediately and he would miss that $1 million plus paycheck he's been paying himself. I don't see much hope of the unsecured creditors getting anything. The company is said to be worth less than $500,000 just the way it sets, which ain't much from what it was.
However, the stock went from the high 20's to a low of 1/4 when this broke, but is now at 1 5/8, so there might be hope for the future, but that won't do the creditors affected in the Chapter 11 much good.
For now, you're probably better off figuring on a tax write off when you have to offset some of those big profits that this business is supposed to be paying car owners. The only people who, in the forseeable future, will be getting any money are the over-priced attorneys (sorry Opie), the paper companies, and the post office.
You did file to get on the mailing list to receive all of the notifications and mailings didn't you??
Feel free to get hold of me any time.
HJ
PS Do you know Frank from Lakeside. I think TAVI owes him a chunk, too.

Answer:

You may have a claim against the consignees under the statute. Send me an Email with you phone number.

Answer:

Opie,
TAVI ships their stuff prepaid (except for customer pick up) and they are the direct manufacturer of the product. You have to go thru them to pull from their plants. Your the legal expert, BUT I know this company real well and I don't think she's got much of a chance. Hope I'm wrong.
HJ