Post by Logan on Apr 8, 2017 16:02:51 GMT -6
THR & Associates founder Jeff Parsons faces civil contempt from '12 bankruptcy case
THR & Associates founder Jeff Parsons is on more than one payment schedule resulting from federal court orders in Springfield.
The former Springfield and Athens resident, who now lives in Texas, faces possible civil contempt at a hearing scheduled for April 18 in U.S. Bankruptcy Court for the Central District of Illinois after falling behind on $1,000-a-month payments toward a $2.2 million judgment in the bankruptcy of THR. Parsons also has been ordered to make $500-a-month payments in the separate case of more than $12 million in overtime and penalties owed former THR employees.
Parsons was allowed to make the token payments in the employee case after he successfully argued he could not afford the originally ordered payments of $5,155 monthly.
A court-appointed trustee filed the bankruptcy complaint in late 2013, alleging Parsons took more than $3.8 million out of THR & Associates from August 2011 through September 2012 as the sole company shareholder, even though the road-show buying company founded by Parsons was insolvent. THR lost $6.5 million from October through December 2011 alone, according to court documents.
Read more: www.sj-r.com/news/20170406/parsons-faces-civil-contempt-from-2012-bankruptcy-case
THR & Associates founder Jeff Parsons is on more than one payment schedule resulting from federal court orders in Springfield.
The former Springfield and Athens resident, who now lives in Texas, faces possible civil contempt at a hearing scheduled for April 18 in U.S. Bankruptcy Court for the Central District of Illinois after falling behind on $1,000-a-month payments toward a $2.2 million judgment in the bankruptcy of THR. Parsons also has been ordered to make $500-a-month payments in the separate case of more than $12 million in overtime and penalties owed former THR employees.
Parsons was allowed to make the token payments in the employee case after he successfully argued he could not afford the originally ordered payments of $5,155 monthly.
A court-appointed trustee filed the bankruptcy complaint in late 2013, alleging Parsons took more than $3.8 million out of THR & Associates from August 2011 through September 2012 as the sole company shareholder, even though the road-show buying company founded by Parsons was insolvent. THR lost $6.5 million from October through December 2011 alone, according to court documents.
Read more: www.sj-r.com/news/20170406/parsons-faces-civil-contempt-from-2012-bankruptcy-case