Tuesday, August 05, 2008

F&S Oil: biodiesel plant auction delay?

Reported by the WRAs Dave Krechevsky:

A Hartford Superior Court judge agreed Monday to set deadlines for secured creditors of F&S Oil Inc. to file claims against the proceeds from the first two auctions of the failed company's assets.

The court-appointed receiver also said Monday he expects to delay the auction of F&S Oil's biodiesel facility in Cheshire until sometime in September....

Monday's meeting with the judge did not resolve disputes over the F&S Oil's biodiesel facility on Sandbank Road in Cheshire.


I'm wondering if the judge is going to tire of the unresolved disputes and consider piercing the corporate veil?

Tim White

4 comments:

Anonymous said...

With all your "Piercing the Corporate Veil" talk, it sure sounds like you're hoping some of the Bowman's get taken down Tim? Would you like to elaborate on why you feel the "corporate veil" should be pierced? I'm sure some of the Bowman's would like to know.

tim white said...

it sure sounds like you're hoping some of the Bowman's get taken down Tim?

well, that's a leap. A huge leap. No. I just want closure for the people who lost money on F&S prepayments (and others).

Would you like to elaborate on why you feel the "corporate veil" should be pierced?

Wikipedia lists the first issue as "absence of corporate records." My understanding is that was one of the issues. So I believe my question is only logical.

Anonymous said...

The 7:13 a.m. comment is too concerned with one particular group of business owners and shows little or no concern for the thousands, and 10’s of thousands of hard working, honest state residents who were methodically taken to the cleaners by the likes of F&S Oil and it partner companies, Village Oil, Carlson Oil, and Cheshire Investment. Whenever a fraud the size of the F&S fiasco occurs you can be certain that it takes a very long time before the general population as well as the multitude actually scammed forgets. Here’s hoping any of the corporate flotsam and jetsam from that wreck which is still in business has gone out of their way to hire the very best in corporate reconstruction consultants and will use the advise available.

Anonymous said...

Several newspaper reports said that Cheshire Investment only owns the land and not the building. One report said that they own the building. Does anyone know exactly what they own? If F&S owned the building, I guess it would be very difficult to auction that off.