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Statement of Financial Affairs FORBA NY, LLC - Doc 218

Statement of Financial Affairs FORBA NY, LLC - Doc 218

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Published by Dentist The Menace
Chapter 11 Bankruptcy - CHURCH STREET HEALTH MANAGEMENT, LLC,NOTES AND STATEMENT OF LIMITATIONS, METHODOLOGY, AND DISCLAIMER REGARDING THE DEBTORS' SCHEDULES OF ASSETS AND LIABILITIES AND STATEMENT OF FINANCIAL AFFAIRS
Doc 218
Filed 3-23-2012
Details being on page 12
Chapter 11 Bankruptcy - CHURCH STREET HEALTH MANAGEMENT, LLC,NOTES AND STATEMENT OF LIMITATIONS, METHODOLOGY, AND DISCLAIMER REGARDING THE DEBTORS' SCHEDULES OF ASSETS AND LIABILITIES AND STATEMENT OF FINANCIAL AFFAIRS
Doc 218
Filed 3-23-2012
Details being on page 12

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Published by: Dentist The Menace on Apr 29, 2012
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FN ]LJ ZNF]JM S]H]JS IHNKYZW]CV CBZY] @BY ]LJ OFMMDJ MFS]YFC] B@ ]JNNJSSJJ NHSLPFDDJ MFPFSFBN
------------------------------------------------------------------------ FN YJ5 ) ) Clhptjr 88 CLZYCL S]YJJ] LJHD]L OHNHAJOJN], DDC, )
jt hd.
 8
 ) Chsj Nb. 89-78:13 ) Mjitbrs ) Ebfntdy Hmofnfstjrjm ------------------------------------------------------------------------
ADBIHD NB]JS HNM S]H]JOJN] B@ DFOF]H]FBNS, OJ]LBMBDBAV, HNM MFSCDHFOJY YJAHYMFNA ]LJ MJI]BYS' SCLJMZDJS B@ HSSJ]S HNM DFHIFDF]FJS HNM S]H]JOJN]S B@ @FNHNCFHD H@@HFYS
Clurcl Strjjt Ljhdtl Ohnhajojnt DDC hnm fts suisfmfhrfjs, hs mjitbrs hnm mjitbrs fn  pbssjssfbn (cbddjctfvjdy, tlj "
Mjitbrs 
"), lhvj `fdjm tljfr rjspjctfvj Scljmudjs b` Hssjts hnm Dfhifdftfjs (tlj "
Scljmudjs 
") hnm Sthtjojnts b` @fnhncfhd H``hfrs (tlj "
SB@Hs 
", hnm cbddjctfvjdy wftl tlj "
Scljmudjs 
," tlj "
Scljmudjs hnm Sthtjojnt
") fn tlj Znftjm Sthtjs Ihnkruptcy Cburt `br tlj Ofmmdj Mfstrfct b` ]jnnjssjj (tlj "
Ihnkruptcy Cburt 
"). ]lj Mjitbrs, wftl tlj hssfsthncj b` tljfr hmvfsbrs, prjphrjm tlj Scljmudjs hnm Sthtjojnts fn hccbrmhncj wftl sjctfbn :98 b` tftdj 88 b` tlj Znftjm Sthtjs Cbmj (tlj "
Ihnkruptcy Cbmj 
") hnm Yudj 8771 b` tlj @jmjrhd Yudjs b` Ihnkruptcy Wrbcjmurj (tlj "
Ihnkruptcy Yudjs 
"). Ybmnjy Chwbbm, tlj Clfj` @fnhncfhd B``fcjr b` tlj Mjitbrs, lhs sfanjm tlj Scljmudjs hnm Sthtjojnts. Fn rjvfjwfna hnm sfanfna tlj Scljmudjs hnm Sthtjojnts, Or. Chwbbm lhs njcjsshrfdy rjdfjm upbn tlj j``brts, sthtjojnts, hnm rjprjsjnthtfbns b` vhrfbus pjrsbnnjd b` tlj Mjitbrs. Or. Chwbbm lhs nbt (hnm cbudm nbt lhvj) pjrsbnhddy vjrf`fjm tlj hccurhcy b` jhcl sucl sthtjojnt hnm rjprjsjnthtfbn, fncdumfna sthtjojnts hnm rjprjsjnthtfbns cbncjrnfna hobunts bwjm tb crjmftbrs. ]ljsj Adbihd Nbtjs hnm Sthtjojnt b` Dfofthtfbns, Ojtlbmbdbay, hnm Mfscdhfojr Yjahrmfna tlj Scljmudjs hnm Sthtjojnts (tlj "
Adbihd Nbtj
") pjrthfn tb, hrj fncbrpbrhtjm iy rj`jrjncj fn, hnm cboprfsj hn fntjarhd phrt b` hdd b` tlj Scljmudjs hnm Sthtjojnts. ]lj Adbihd  Nbtjs slbudm ij rj`jrrjm tb hnm rjvfjwjm fn cbnnjctfbn wftl hny rjvfjw b` tlj Scljmudjs hnm
8 ]lj Mjitbrs (wftl
tlj dhst `bur mfafts b` jhcl Mjitbr‖s `jmjrhd thx fmjntf`fchtfbn nuoijr hnm clhptjr 88 chsj
nuoijr), hrj5 Clurcl Strjjt Ljhdtl Ohnhajojnt, DDC (933:; Chsj Nb. 89-78:13), Sohdd Sofdjs Lbdmfna Cbophny, DDC (=663; Chsj Nb. 89-78:1=), @BYIH NV, DDC (<783; Chsj Nb. 89-78:1:), @BYIH Sjrvfcjs, Fnc. (0:70; Chsj Nb. 89-78:11), JJLC, Fnc. (=613; Chsj Nb. 89-78:10).
Chsj 3589-ik-78:13 Mbc 98< @fdjm 73/93/89 Jntjrjm 73/93/89 775=1581 Mjsc Ohfn Mbcuojnt Whaj 8 b` 96
 
9 Sthtjojnts.
9
 Fn tlj jvjnt tlht tlj Scljmudjs hnm Sthtjojnts mf``jr `rbo hny b` tlj `brjabfna Adbihd Nbtjs, tlj Adbihd Nbtjs slhdd cbntrbd. ]lj Scljmudjs hnm Sthtjojnts mb nbt purpbrt tb rjprjsjnt `fnhncfhd sthtjojnts prjphrjm fn hccbrmhncj wftl Ajnjrhddy Hccjptjm Hccbuntfna Wrfncfpdjs fn tlj Znftjm Sthtjs ("
AHHW 
"),
nbr hrj tljy fntjnmjm tb ij `uddy rjcbncfdjm tb tlj Mjitbrs‖ `fnhncfhd sthtjojnts. ]lj Scljmudjs
hnm Sthtjojnts cbnthfn unhumftjm fn`brohtfbn tlht fs suiejct tb `urtljr rjvfjw hnm pbtjntfhd hmeustojnt. Fn prjphrfna tlj Scljmudjs hnm Sthtjojnts, tlj Mjitbrs rjdfjm bn `fnhncfhd mhth mjrfvjm `rbo tljfr ibbks hnm rjcbrms tlht whs hvhfdhidj ht tlj tfoj b` sucl prjphrhtfbn. ]lj Mjitbrs lhvj ohmj rjhsbnhidj hnm abbm `hftl j``brts tb jnsurj tlj hccurhcy hnm cbopdjtjnjss b` sucl `fnhncfhd fn`brohtfbn, iut `urtljr rjsjhrcl br mfscbvjry ohy fmjntf`y suisjqujnt fn`brohtfbn tlht ohy njcjssfthtj ohtjrfhd hojnmojnts tb tlj Scljmudjs hnm Sthtjojnts. Hs h rjsudt, tlj Mjitbrs hrj unhidj tb whrrhnt br rjprjsjnt tlht tlj Scljmudjs hnm Sthtjojnts hrj wftlbut fnhmvjrtjnt jrrbrs, bofssfbns, br fnhccurhcfjs hnm ohy ij hojnmjm fn tlj `uturj.  Nbtlfna cbnthfnjm fn tlj Scljmudjs hnm Sthtjojnts slhdd cbnstftutj h whfvjr b` hny b` tlj Mjitbrs' rfalts br hn hmofssfbn wftl rjspjct tb tljfr clhptjr 88 chsjs, fncdumfna, wftlbut dfofthtfbn, hny fssujs fnvbdvfna suisthntfvj cbnsbdfmhtfbn, jqufthidj suibrmfnhtfbn, b``sjts br mj`jnsjs, hnm/br chusjs b` hctfbn hrfsfna unmjr tlj prbvfsfbns b` clhptjr : b` tlj Ihnkruptcy Cbmj hnm hny btljr rjdjvhnt hppdfchidj dhws tb rjcbvjr hssjts br hvbfm trhns`jrs. 8.
Suoohry b` Sfanf`fchnt Yjpbrtfna Wbdfcfjs
. ]lj `bddbwfna fs h suoohry b` sfanf`fchnt rjpbrtfna pbdfcfjs5 h)
 
Hddbchtfbn b` Dfhifdftfjs. ]lj Mjitbrs hddbchtjm dfhifdftfjs ijtwjjn tlj prjpjtftfbn hnm pbstpjtftfbn pjrfbms ihsjm bn rjsjhrcl cbnmuctjm fn cbnnjctfbn wftl tlj  prjphrhtfbn b` tlj Scljmudjs hnm Sthtjojnts. Hs hmmftfbnhd fn`brohtfbn ijcbojs hvhfdhidj hnm `urtljr rjsjhrcl fs cbnmuctjm, tlj hddbchtfbn b` dfhifdftfjs ijtwjjn tlj prjpjtftfbn hnm pbstpjtftfbn pjrfbms ohy clhnaj. ]lj Mjitbrs rjsjrvj hdd rfalts tb obmf`y, hojnm, hnm suppdjojnt tlj Scljmudjs hnm Sthtjojnts hs fs njcjsshry hnm hpprbprfhtj.  i)
 
Hojnmojnts hnm Suppdjojnts. Qlfdj tlj Mjitbrs ohmj rjhsbnhidj hnm abbm `hftl j``brts tb `fdj cbopdjtj hnm hccurhtj Scljmudjs hnm Sthtjojnts, fnhmvjrtjnt jrrbrs br bofssfbns ohy jxfst. ]lj Mjitbrs rjsjrvj hdd rfalts tb hojnm br suppdjojnt tlj Scljmudjs hnm Sthtjojnts hs fs njcjsshry hnm hpprbprfhtj. c)
 
Ihnkruptcy Cburt Brmjrs.
 
Wursuhnt tb vhrfbus brmjrs jntjrjm br tb ij jntjrjm iy tlj Ihnkruptcy Cburt (cbddjctfvjdy, tlj "
Wrj-pjtftfbn Whyojnt Brmjrs 
"), tlj
9
 
]ljsj Adbihd Nbtjs hrj fn hmmftfbn tb tlj spjcf`fc nbtjs cbnthfnjm fn jhcl Mjitbr's Scljmudjs hnm Sthtjojnts. ]lj `hct tlht tlj Mjitbrs lhvj prjphrjm h "Spjcf`fc Nbtj" wftl rjspjct bndy tb spjcf`fc Scljmudjs hnm Sthtjojnts slbudm nbt ij fntjrprjtjm hs h mjcfsfbn iy tlj Mjitbrs tb jxcdumj tlj hppdfchifdfty b` sucl Spjcf`fc Nbtj tb hny b` tlj Mjitbrs' rjohfnfna Scljmudjs hnm Sthtjojnts, hs hpprbprfhtj.
 
Chsj 3589-ik-78:13 Mbc 98< @fdjm 73/93/89 Jntjrjm 73/93/89 775=1581 Mjsc Ohfn Mbcuojnt Whaj 9 b` 96
 
3 Mjitbrs wjrj br wfdd ij hutlbrfzjm tb phy cjrthfn butsthnmfna prj-pjtftfbn cdhfos, fncdumfna, wftlbut dfofthtfbn, cjrthfn cdhfos b` jopdbyjjs `br whajs, shdhrfjs hnm  ijnj`fts hnm cjrthfn thx cdhfos. Hs h rjsudt, hnm hs mjthfdjm ljrjfn, tlj Mjitbrs lhvj nbt dfstjm tljsj cdhfos fn tlj Scljmudjs. ]b tlj jxtjnt sucl cdhfos hrj dfstjm bn tlj Scljmudjs hnm Sthtjojnts, fnhmvjrtjntdy br btljrwfsj, tlj Mjitbrs mb nbt whfvj hny rfalt tb hojnm tlj Scljmudjs hnm Sthtjojnts hnm/br suisjqujntdy biejct tb sucl cdhfos bn hny ihsfs, fncdumfna tlht sucl cdhfos lhvj hdrjhmy ijjn shtfs`fjm tlrbual phyojnts wftl rjspjct tb tlj Wrj-pjtftfbn Whyojnt Brmjrs. m)
 
Cdhfos Mjscrfptfbn. Hny `hfdurj tb mjsfanhtj h cdhfo bn h afvjn Mjitbr's Scljmudjs hnm Sthtjojnts hs "mfsputjm," "cbntfnajnt," br "undfqufmhtjm" mbjs nbt cbnstftutj hn hmofssfbn iy tlj Mjitbr tlht sucl hobunt fs nbt "mfsputjm," "cbntfnajnt," br "undfqufmhtjm." ]lj Mjitbrs rjsjrvj hdd rfalts tb mfsputj hny cdhfo, wljtljr rj`djctjm bn tljfr rjspjctfvj Scljmudjs hnm Sthtjojnts br hssjrtjm  pursuhnt tb h `fdjm prbb` b` cdhfo, bn hny arbunms, fncdumfna, wftlbut dfofthtfbn, hobunt, dfhifdfty br cdhssf`fchtfbn, br tb btljrwfsj suisjqujntdy mjsfanhtj sucl cdhfos hs "mfsputjm," "cbntfnajnt," br "undfqufmhtjm."
 
j)
 
Cdhssf`fchtfbns. Dfstfna h cdhfo br cbntrhct (f) bn Scljmudj M hs "sjcurjm," (ff) bn Scljmudj @ hs "unsjcurjm," br (fff) bn Scljmudj A hs "jxjcutbry" br "unjxpfrjm," mbjs nbt cbnstftutj hn hmofssfbn iy tlj Mjitbrs b` tlj djahd rfalts b` tlj cdhfohnt, br h whfvjr b` tlj Mjitbrs' rfalt tb rjclhrhctjrfzj br rjcdhssf`y sucl cdhfo br cbntrhct. `)
 
Chusjs b` Hctfbn. Mjspftj rjhsbnhidj hnm abbm `hftl j``brts, tlj Mjitbrs ohy nbt lhvj fmjntf`fjm hnm/br sjt `brtl hdd b` tljfr chusjs b` hctfbn (`fdjm br pbtjntfhd) hahfnst tlfrm phrtfjs hs hssjts fn tljfr Scljmudjs hnm Sthtjojnts. ]lj Mjitbrs rjsjrvj hdd rfalts wftl rjspjct tb hny chusjs b` hctfbn hnm nbtlfna fn tlj Adbihd  Nbtjs br tlj Scljmudjs hnm Sthtjojnts slhdd ij mjjojm h whfvjr b` hny sucl chusjs b` hctfbn. Sfofdhrdy, fn fnsthncjs wljrj tlj Mjitbrs hrj mj`jnmhnts fn  pjnmfna chusjs b` hctfbn, nbtlfna fn tlj Adbihd Nbtjs br tlj Scljmudjs hnm Sthtjojnts slhdd ij mjjojm hs hn hmofssfbn br mjtjrofnhtfbn wftl rjspjct tb, br h whfvjr b` hny mj`jnsj br biejctfbn tb, sucl chusjs b` hctfbn, hnm hdd b` tlj
Mjitbrs‖ mj`jnsjs, biejctfbn hnm btljr rfalts wftl rjspjct tb sucl chusjs b` hctfbn
hrj ljrjiy prjsjrvjm. a)
 
Cbn`fmjntfhd, Wrfvhtj, hnm Cboojrcfhddy Sjnsftfvj Fn`brohtfbn. Fn cjrthfn fnsthncjs, tlj Mjitbrs ohy lhvj fntjntfbnhddy hdtjrjm, rjvfsjm, rjmhctjm br cbnsbdfmhtjm cjrthfn fn`brohtfbn fn tlj Scljmudjs hnm Sthtjojnts muj tb tlj nhturj b` hn harjjojnt ijtwjjn h Mjitbr hnm h tlfrm phrty, cbncjrns hibut tlj cbn`fmjntfhd br cboojrcfhddy sjnsftfvj nhturj b` cjrthfn fn`brohtfbn br cbncjrns `br tlj prfvhcy b` hn fnmfvfmuhd. Fn hmmftfbn, fn cjrthfn fnsthncjs, tlj sjnsftfvfty b` sucl fn`brohtfbn ohy rjqufrj fts bofssfbn `rbo tlj Scljmudjs hnm Sthtjojnts. ]b tlj jxtjnt pbssfidj, tlj hdtjrhtfbns, rjmhctfbns, cbnsbdfmhtfbns hnm bofssfbns lhvj  ijjn dfoftjm tb tlj jxtjnt mjtjrofnjm iy tlj Mjitbrs tb ij njcjsshry br hpprbprfhtj tb prbtjct tlj Mjitbrs br tlfrm phrtfjs wlfdj hdsb prbvfmfna fntjrjstjm  phrtfjs wftl su``fcfjnt fn`brohtfbn fn rjspbnsj tb tlj Scljmudjs hnm Sthtjojnts.
Chsj 3589-ik-78:13 Mbc 98< @fdjm 73/93/89 Jntjrjm 73/93/89 775=1581 Mjsc Ohfn Mbcuojnt Whaj 3 b` 96

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