by Michael Moecker & Associates | Jun 5, 2015 | Uncategorized
CONTACT: Phil von Kahle FOR IMMEDIATE RELEASE Office Phone: 954-252-1560 Email: Philv@moecker.com Phil von Kahle, Assignee to manage liquidation of art supply retail chain Ft. Lauderdale – Phil von Kahle, principle of Michael Moecker & Associates, has been assigned Pearl Artist & Craft Supply Corp. (“Pearls”) in an assignment for the benefit of creditor’s case. The case (#14-012499) has been filed in Broward Circuit Court, Judge Stretifeld presiding. Pearls, an artist retail institution for over 35 years had downsized its operations to two locations in Miami and Ft. Lauderdale following a Chapter 11 bankruptcy proceeding in 2010. The Miami location has just completed its liquidation process and has closed. Now the flagship store on Oakland Park Boulevard is in the stages of liquidation and wind down. The court filing shows debts of $3,369,469 and assets valued at $334,286. However von Kahle has stated that “we are confident that we will be able to generate significantly more value for the assets, generating a higher distribution for the creditors”. Pearls is represented by attorney Jeffery Solomon while Jared Gamberg of Gamberg & Abrams P.A. represents the assignee. Michael Moecker and Associates, Inc., a Florida insolvency and liquidation firm, supports the courts, creditors, and debtors by serving as Assignees, Receivers, Chief Restructuring Officer, Custodians, Special Masters and Liquidation Trustees in partnership with bankruptcy attorneys throughout the state. If you’d like more information about this topic or to schedule an interview with Moecker Vice President, Phil von Kahle, please call Phil at 954-252-1560 (office) or email him at Philv@moecker.com. Phil offers national availability by arrangement and is based in Ft. Lauderdale,...
by Michael Moecker & Associates | Jun 5, 2015 | Uncategorized
Michael Moecker & Associates, Inc. Announces, UMT International, LLC. Assignment CONTACT: Phil von Kahle FOR IMMEDIATE RELEASE Office Phone: 954-252-1560 Email: PhilVonKahle@moecker.com [FORT LAUDERDALE] Professional fiduciary, Phil von Kahle, is best known for his turnaround management skills and key role in recovering funds for Bernard L. Madoff feeder funds takes on a new challenge. Now, von Kahle of Michael Moecker and Associates, Inc., a well-known business insolvency firm has been assigned UMT International, LLC. UMT International is a world renowned company specializing in custom yacht davits, platforms, stairs and other marine accessories. The company filed an assignment for the benefit of creditors in Broward County court earlier this week. “This is a great opportunity to turn this internationally known company around,” says Moecker Vice President, Phil von Kahle. “We took one quick look at this assignment and said this is a great company.” “We met with production staff and quickly assessed the decision to continue production. Vendors are pleased to hear our turnaround plan and agree that the company has a great product line and reputation.” “Once the company is stabilized we will begin to speak with potential buyers of the company.” Michael Moecker and Associates, Inc., a Florida insolvency and liquidation firm, supports the courts, creditors, and debtors by serving as Assignees, Receivers, Chief Restructuring Officer, Custodians, and Liquidation Trustees in partnership with bankruptcy attorneys throughout the...
by Michael Moecker & Associates | Jun 5, 2015 | Uncategorized
FOR IMMEDIATE RELEASE CONTACT: Phil von Kahle Office Phone: 954-252-1560 Email: PhilVonKahle@moecker.com Insolvency veteran, Mark Healy of Michael Moecker & Associates, has been appointed as Assignee to manage the wind down of this well known clothing chain headquartered in Jacksonville Florida. Body Central Corp. a nationwide women’s clothing chain, has filed an Assignment for the Benefit of Creditors and is closing all 265 of its stores. Body Central was forced to lay off 2,500 employees as it winds down the business through the assignment, a state insolvency proceeding. Poor sales, rapidly changing trends and the lack of reliable long-term financing is believed to have contributed to their demise. “The board and a majority of investors opted for the state insolvency process, known as an Assignment for the Benefit of Creditors. This process is less expensive, faster and offers greater flexibility,” said Gardner Davis, a lawyer at Foley & Lardner LLP who represents the retailer. Michael Moecker & Associates is the leading Florida firm specializing in providing investors, shareholders, creditors and attorneys with successful resolutions to insolvency, bankruptcy and liquidation matters. Body Central, a publicly traded company, shares fell 29 percent upon the...
by Michael Moecker & Associates | Jun 5, 2015 | Uncategorized
FOR IMMEDIATE RELEASE 2015-12 Washington D.C., Jan. 21, 2015 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds in a scheme that raised more than $17 million since November 2013. The SEC’s complaint filed in federal court in the Southern District of Florida last week charged Elm Tree Investment Advisors LLC, its founder and manager, Frederic Elm, and Elm Tree Investment Fund LP, Elm Tree “e”Conomy Fund LP, and Elm Tree Motion Opportunity LP. According to the complaint, Elm, formerly known as Frederic Elmaleh, his unregistered investment advisory firm, and the three funds misled investors and used most of the money raised to make Ponzi-like payments to the investors. The complaint alleges that Elm treated the funds as his personal piggy bank, tapping them to buy a $1.75 million home, luxury automobiles, and jewelry, and to cover daily living expenses. Elm’s wife, Amanda Elm, formerly Elmaleh, is named as a relief defendant based on her receipt of investor monies. “Elm misled investors about how he and his funds would use their money and about how much he charged them in fees,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office. “As a result, Elm was able to wrongfully take millions of dollars from investors without their knowledge.” The SEC’s complaint charges Elm, his advisory firm and the Elm Tree funds with violating anti-fraud provisions of federal securities laws and SEC anti-fraud rules. The SEC is seeking relief for investors, including return of allegedly ill-gotten gains, with interest, and...
