Florida Claims Status
Florida Members
Receive Checks from TAI of Florida
Former TAI (Thousand Adventures, Inc.) members who purchased their memberships in Florida or who had Florida home parks, and filed timely proofs of claim in that bankruptcy have finally beenissued checks in partial compensation for their losses. The maximum amount of payment was $1,800.
The company filed for Chapter 11 Reorganization in Florida but abandoned the bankruptcy by refusing to file the required documentation concerning their financial dealings and status, and refusing to provide a viable plan for reorganization.
Members had lost from $3,000 to upwards of $22,000 for memberships and "Leases" in the Florida campground system.
Judge Briskman heard the Chapter 7 Trustee (Mr. Cuthill), his attorney (Mr. Shuker), the IRS attorney, and several members at the hearing on 26 May 1999. All members who appeared to defend their claim received favorable rulings from Judge Briskman. Judge Briskman is the first bankruptcy judge to actually understand the situation of the members in the TAI scheme.
The attorney for the Florida Unsecured CreditorsÕ Committee, Mr. Zusmann, originally instructed members in that bankruptcy to file their claims as "Priority" claims. Mr. Cuthill and Mr. Shuker were initially inclined to oppose Priority status for members until a discussion with the attorney for the "Class Action" against TAI, Mr. Napier (Mr. Napier had already won a lawsuit on behalf of "all" TAI members in an Iowa action against the parent company, TAI).
It was Mr. NapierÕs intervention that finally swayed the Florida Chapter 7 Trustee to accept and defend Priority status for members.
Those of us who served on the Florida Unsecured CreditorsÕ Committee (and later formed the National Association for Members) would like to feel that we played some constructive role in helping members in this sad saga.
The real heroes and the persons to whom we all owe our gratitude, however, are Mr. Zusmann, Mr. Cuthill and Mr. Shuker from Florida, and Mr. Napier, the Class-action attorney in Iowa.
"It Ain't over 'Till it's Over" - and it isn't over!
The class action filed in Iowa continues to seek recovery from additional sources "on behalf of ALL TAI members, including those who received money from Florida".
Those Florida members who did not file a proof of claim in Florida are still part of the national class action and may participate in any distribution of funds received in the class action according to Mr. Napier.
"Florida members who, for whatever reason,did not receive a check from Florida should not think it is all over for them", he said.
The Chapter 7 Trustee and his attorney (Mr. Lam and Mr. Childers) inform us that they are still pressing on with recovery of assets in the bankruptcy of the parent company, Thousand Adventures, Inc. They are not yet ready to report on their successes. We will report their progress to you when more facts are known.
Download
the Proof-of-Claim form
with instructions for the Iowa bankruptcy
(All
TAI members)
