LOUIS J. PEARLMAN/TRANS CONTINENTAL AIRLINES, INC.
Soneet R. Kapila was appointed Chapter 11 Trustee in these related cases that incorporate a classic Ponzi scheme of approximately $500 million and transactions intertwined in over 100 related entities. The number of investors and loss victims is expected to exceed 1,400 and the case involves recovery of off-shore assets.
CONTINUUM CARE CORPORATION
Soneet R. Kapila was appointed Chapter 11 Trustee of this healthcare not-for-profit business of multiple assisted living facilities and a skilled nursing facility. He has operated the business to oversee it through the sale of the assets.
PRIME
CAPITAL CORPORATION
Soneet
R. Kapila was the Chapter 7 Trustee of this multi-million
dollar accounts receivable factoring business and Ponzi scheme.
The principals
of the corporation sought and entered into joint ventures with prominent
wealthy groups to finance the purchase of commercial accounts receivable
from private industry. The Trustee investigated the business conduct
of this Debtor wherein money was raised in significant amounts
and fraudulently
transferred to repay the capital of several investors. He recovered several
million dollars for the creditors with a distribution of 40%.
The
Trustee has vigorously pursued recovery of additional fraudulent
transfers from various investors. He has litigated
aggressively in the face of a
very able defense team of national law firms and an international accounting
firm. Kapila & Company investigated voluminous records to prove a
Ponzi scheme and to develop a proof of insolvency.
BOBBY
ALLISON WIRELESS, INC./BOBBY ALLISON WIRELESS CORPORATION
Soneet
R. Kapila was the Chapter 11 Trustee of this multiple store, specialty,
retail, wireless communications operation overlapping multiple states
in the Southeast Region of the United States. The company retails cellular
and personal communication systems, wireless telephone services for
various carriers, and also retails pager services and associated products
and
accessories to cellular and pager services
MHP
GROUP ONE, L.C. A/K/A RIDGECREST MOBILE HOME PARK
Soneet R. Kapila was the Chapter 11 Trustee of
this mobile home park. He operated the business and sold it to maximize
a return to the creditors.
JUAN
SANTAELLA
Soneet R. Kapila was elected the Chapter 7 Trustee
of this individual bankruptcy Debtor with a vast web of tangled real estate holdings
and
corporate shell organizations in international jurisdictions with overseas
banking institutions. The major creditor, Eastern National Bank, with
the support of the FOGADE (the governmental arm in Venezuela overseeing
financial institutions), elected Kapila with a focus on his forensic
investigative skills. His investigation encompassed international boundaries
and revealed fraudulently concealed assets by the Debtor in foreign
jurisdictions. VITECH
AMERICA, INC.
Soneet R. Kapila was appointed the Chapter 11 Trustee
of this telecommunications logistics and computer exporter business with operations
in Brazil. Vitech
is labeled as one of the largest bankruptcies in South Florida, with
assets exceeding $400 million.
ATLAS ENVIRONMENTAL,
INC. AND SUBSIDIARIES
Soneet R. Kapila was the Chapter 11 operating Trustee
of this NYSE company, in the waste management of construction and demolition
debris.
Atlas,
with its eleven subsidiaries, operated two principal divisions, environmental
remediation and recycling. The Trustee operated this enterprise, restructured
its debt which exceeded $30 million, and sold the business.
PRINCETON
MEDICAL MANAGEMENT
Soneet R. Kapila was the Chapter 11 operating Trustee
of this publicly quoted dental management company with operations in Michigan
and Florida.
He operated and restructured this business to enhance value for all
the creditors and sold it to provide a return to the creditors.
EMPIRE
MARBLE & GRANITE, INC.
Soneet R. Kapila was the Chapter
11 Trustee of this tile and marble business where he oversaw the
business
operations
and assisted Debtor’s
counsel in filing a confirmable Plan of Reorganization providing a
return for unsecured creditors.
SKIPPER'S
OIL, INC.
Soneet R. Kapila was the Chapter 7 Trustee
of this $35 million gas distribution and multi-location gas retail
business. The Trustee liquidated the assets
of this gas station business to maximize return to the creditors.
DIGITAL PRODUCTS
CORPORATION
Soneet R. Kapila was appointed "Responsible Person" and
later interim CFO of this publicly traded company during its Chapter 11 proceeding
to oversee the conduct of management and assist in the reorganization
of the Debtor. The company provided electronic monitoring equipment
and services to correctional and substance abuse institutions.
GATEWAY INVESTMENTS
CORPORATION
Soneet R. Kapila was the operating Chapter 11 Trustee
for this major South Florida real estate developer, which owned over 400,000
square
feet of commercial office space. In a highly contested and litigated
environment, he negotiated and restructured multi-million dollars of
institutional debt and proposed a Plan of Reorganization and Disclosure
Statement, which were confirmed by the United States Bankruptcy Court.
His duties included investigating the operations of this Debtor, operating
the business, and reorganizing the corporation.
ALTERNATIVE
SERVICES, INC.
Soneet R. Kapila was the operating Chapter 11 Trustee
for this twelve-group home, not-for-profit entity providing care for developmentally
disabled
clients. He rapidly re-engineered the cost centers of this facility
to manage the limited cash flow without endangering the care and service
to the clients and residents. Mr. Kapila balanced the competing interests
and pressures of the Department of Health and Rehabilitative Services,
various advocacy groups and creditors, to negotiate and consummate
a sale of the operations and satisfy all competing interests. This resulted
in a distribution to creditors of 80% and continuing care for the residents.
JUNCTION
FINANCIAL CORPORATION/U.S. OSTRICH CORPORATION
Soneet R. Kapila was the Chapter 11 and 7 Trustee and Kapila & Company
was the Trustee's accountants. Our duties included confirming the existence
of the alleged securities fraud, closing operations and liquidating
assets thereby minimizing losses to over one thousand investors. Both
Soneet
Kapila and other firm professionals worked closely with the Chicago
office of the S.E.C.
HOME & HOUSING
OF DADE, INC.
Soneet R. Kapila was the operating Chapter 11 Trustee
for this low-income, multi-unit, housing development that was financed by a combination
of
private bond money and government funds, including HUD. Mr. Kapila
skillfully negotiated and restructured the overall debt and also raised additional
funds to rehabilitate a dilapidated housing community.
BELVEDERE CONSTRUCTION
COMPANY
Soneet R. Kapila was the operating Chapter 11 Trustee
of this significant multi-million dollar commercial construction contractor.
His duties included
managing the business operations and completing several open contracts.
He operated the business to accomplish an orderly liquidation of the
bankruptcy estate and maximize the return to creditors.
A.R.E. & OVERSEAS,
INC.
Soneet R. Kapila was the operating Chapter 11 Trustee
of this airline aviation services company at a major South Florida international
airport.
His duties included operating and managing all facets of the business,
accomplishing a turn around of the business and successfully negotiating
a sale with several potential buyers and lenders.
HAULOVER
RESORT MARINA
Soneet R. Kapila was the operating Chapter 11 Trustee of this recreational
marina business. His skill and efforts in operating this marina and
negotiating the terms of the sale with potential buyers and major creditors
resulted
in distributions to creditors. He turned this "no asset case" into
a return to creditors.
EXCALIBUR,
INC.
Soneet R. Kapila was the operating Chapter 11 Trustee
of this marina. He operated the business and helped competing interests resolve
issues
to ultimately dismiss the case and paying of the secured lender.
FAMILY PARADISE,
INC. (MOTEL/MARINA)
Soneet R. Kapila was appointed the operating Chapter
11 Trustee of this motel and marina in Key Largo. Following a careful financial
analysis,
he turned over the business to Debtor's management, recommending this
to be the most cost-effective way to reorganize the business.
CHERYL'S
DAY CARE CENTER, INC.
Soneet R. Kapila was the operating Chapter 11 Trustee
for this multi-location, child day care center in a disadvantaged neighborhood.
Within very constrained
financial conditions, he operated the business until all the children
were well placed in alternative schools before closing down the business
and distributing funds to creditors.
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