Whoo Files for Chapter 7 Bankruptcy?

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Solar technology company Ascendant Energy, of Owls Head, Maine, has filed Chapter 7 bankruptcy. The Chapter 7 filing lists $781,957 in liabilities and a mere $1,610 in assets for the energy company. The bankruptcy would effectively eliminate the debt owed to the Maine Technology Institute (MTI) and the investment from the Wiscasset-based Coastal Enterprises Inc. Ascendant Energy also owes money to Oakhurst Dairy, for whom Ascendant was to have provided solar energy systems at 16 of its farms. It also owes tens of thousands of dollars to area contractors Jim Godbout Plumbing & Heating Inc. and G&E Roofing Co. Inc. The company lists its only assets as one laptop and one printer valued at $500, 6-year-old solar modules valued at $600 and tools valued at $500. According to a news report in the Bangor Daily News by Darren Fishell, Ascendant Energy had received some $1 million in loans or grants through MTI, a nonprofit organization that is supported with state money.  Ascendant Energy required the funding to develop a proprietary solar panel technology as well as to launch a manufacturing facility that could have provided some 40 jobs. The energy company was hired to install solar panels on the Wells Conference Center at the University of Maine by the end of 2010 to provide electricity and hot water; work that was never completed. Chris Straka, founder and CEO of Ascendant Energy, is the 100% shareholder in the company. He has separately declared Chapter 13 bankruptcy, which will allow for the reorganization of his debt and would allow him to keep his home. The Chapter 13 bankruptcy payment plan reportedly calls for Straka to pay $600/month for 54 months to a bankruptcy trustee, who would make car and mortgage payments, as well as other applicable payments. Straka had secured a patent in 2006 for a device that would ostensibly concentrate and amplify solar energy that is thinner than earlier devices performing the same task. At an energy conference, the company had publicized that its invention was 37% efficient at converting solar energy to electricity, when the industry standard was 14%. Ascendant had been in the media back in 2010, when it faced a number of lawsuits from creditors. For experienced and knowledgeable Chapter 7 or Chapter 13 personal bankruptcy assistance, you can depend on the attorneys from Client First Bankruptcy who have helped thousands of satisfied clients discharge their crushing debt. For your free initial consultation, please call our knowledgeable and empathetic lawyers toll-free at 800-383-6004.  We answer our phones Monday-Friday from 8:30 a.m. – 6:00 p.m.  And log onto www.clientfirstbankruptcy.com for vital and timely bankruptcy information 24/7 so you can get the information you need at your convenience. Call us today.

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Former Top Cop Files Chapter 7

Written by CFB Blogger. Posted in Blog

Keith Tarrillion, former police chief of Perryville, Missouri, and his wife, Shannon, have filed Chapter 7 bankruptcy. In July, according to an article in the Southeast Missourian by Emily Priddy, Mr. Tarrillion pleaded guilty to a misdemeanor charge of making a false report. He had previously resigned from the Perryville Police Department in March 2013 “amid allegations of professional misconduct ranging from sexual harassment to threatening employees”. Last November, the Missouri attorney general’s office charged Tarrillion with theft, forgery and making a false report. Since Perryville’s police chief is an elected rather than an appointed position, Tarrillion could not be fired. The city did accept his resignation “under a memorandum of understanding that required the city to pay his salary and benefits through the end of his term or until he was charged with a crime”. The bankruptcy filing could absolve Tarrillion of a financial obligation to the city stemming from his departure. However, if convicted of a crime, Tarrillion would be obligated to reimburse Perryville for money and benefits he received after his resignation; if exonerated, the city would owe him back pay through the end of his term. According to a federal bankruptcy court filing, Tarrillion, who now reportedly is selling cars as well as owning a landscaping business, owes the city $43,000, triggered by his guilty plea. The city is listed on the filing as a creditor holding “unsecured nonpriority claims.” At a preliminary hearing in January, a claims adjuster testified that Tarrillion submitted the property damage report to his insurance company, California Casualty, which then issued him two payments totaling $5,400. At that hearing, the presiding judge dismissed the theft charge but found probable cause to go forward with the other charges.  In exchange for Tarrillion’s guilty plea on the false report charge, the assistant attorney general dropped the forgery charge, the news article reports. As part of the plea agreement, Tarrillion was required to surrender his Peace Officer Standards and Training certification and license, given a suspended six-month jail sentence and 10 days in jail to be served in two-day increments throughout  this month. He will also be placed on a one-year court-supervised probation. As a condition of his probation, a judge also ordered the ex-cop to repay Perryville unless a bankruptcy court rules otherwise. The Client First Bankruptcy attorneys are among the most knowledgeable consumer bankruptcy attorneys in the country, representing thousands of clients in consumer bankruptcy cases. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m.-6:00 p.m. Central Time. You can also log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com 24/7 for timely and accurate information on filing your Chapter 7 or Chapter 13 bankruptcy. Don’t take chances with your family’s financial security; call the attorneys at Client First Bankruptcy for trustworthy and compassionate personal bankruptcy services.

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