Olympus Pools personal bankruptcy circumstance: Proprietor has 1st creditor assembly

TAMPA, Fla. (WFLA) — The to start with conference of collectors in the bankruptcy scenario of the proprietor of the now-shuttered Olympus Swimming pools took area on Thursday.

Olympus Swimming pools owner James Staten and his spouse Alexis verified belongings, together with their Pasco County dwelling – valued at $3.5 million, and the Olympus Swimming pools developing – valued at $1.5 million.

The few informed the trustee they moved their young children to show up at university out of the area for protection good reasons, but stated they vacation back again and forth. They equally said they now perform as consultants for an coverage corporation.

Far more than a dozen lenders have been on Thursday’s assembly – which took position by cellular phone – but no home owners spoke.

Although hundreds of individuals filed issues with the attorney general’s workplace about unfinished pools, there are at this time only 27 official creditor claims. In addition to consulting work, James Staten claimed he has the prospective to gather revenue from two other spots: $1 million in accounts receivable- such as some clients he states owe the enterprise, and from a 5 p.c possession he claims he has in his former business partner’s company, Staycation Swimming pools and Spas.

That is a claim that husband or wife, Jordan Hidalgo, denies.

As this scenario moves forward, there is one more scenario to continue to keep for buyers to check out: Legal professional General Ashley Moody has sued Olympus Swimming pools and James Staten. There are no hearings scheduled in that circumstance but.