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| Forms and Instructions - Recent Status - Chapter 11 Trustee Reports - Creditor's Comm. Updates - Contact Information |
Evergreen Security, Ltd. R.W. (Bill) Cuthill, Jr. President 341 N MAITLAND AVE, STE 210 MAITLAND, FL 32751 Telephone: 407-644-3781-235 Facsimile: 407-644-3943 RCuthill@msn.com www.trusteeandexaminercuthill.com December 18, 2007 Evergreen Steering Committee Via: e-mail RE: Status of third distribution Dear Committee members: Leigh Meininger, Chapter 7 Trustee in the bankruptcies of Jon Knight and Anthony Huggins, advised me that the completion of these bankruptcies has been delayed and the distribution of funds to Evergreen, projected for December or January, will be delayed. Mr. Meininger is holding approximately $2 million in the Knight case and $1 million in the Huggins case. These amounts are before administrative costs of the trustee, his attorneys and accountants. He estimates this at approximately $200,000. At this time he cannot make a projection of when the cases will be completed. The delay was caused by several events which I will summarize. Mr. Meininger settled with Mr. Knight and Mr. Huggins and the approximately $3 million in funds mentioned above was paid over to Mr. Meininger in the two cases. I filed an action to recover over $671,000 in legal fees from Huggins’ attorneys, Gray Robinson PA, and Knight’s attorneys, Peter R. Ginsberg PC, and the respective individual attorneys who worked on the cases in these firms. The Court entered an order for Gray Robinson PA and its individual attorneys to pay $300,000 to Evergreen, which they have. The Court has not entered an order related to Ginsberg. Ginsberg has filed an appeal of the Gray Robinson PA order. This appeal has not been heard. Gray Robinson PA and its individual attorneys filed claims in the Knight and Huggins bankruptcies. Counsel for the filers of these claims has stated they will not withdraw them until the Court has approved the settlements. I will keep you advised as to the status of the third distribution. Very truly yours, R.W. (Bill) Cuthill, Jr., President CC: Hans C. Beyer, Esq. R. Scott Shuker, Esq. |
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| Official Committee of Unsecured Creditors for Evergreen Security, Ltd. |