Welcome

REMINDER:  The deadline for submitting claims against the Siskey-Related Debtors is August 23, 2017.  For more information on filing claims in the bankruptcy case, please click the “FILING CLAIMS” tab at the top of this page.

On January 27, 2017, Michael D’Agata, Charlotte Dreibelbis, and Anthony William Packer filed an involuntary petition against TSI Holdings, LLC, thereby initiating a chapter 7 bankruptcy case currently pending before the United States Bankruptcy Court for the Western District of North Carolina as case number 17-30132.  Rick Siskey allegedly operated a Ponzi Scheme through TSI Holdings, LLC.

On February 8, 2017, the Honorable J. Craig Whitley issued an Order Requiring Appointment of Interim Trustee appointing Joseph W. Grier, III (the “Trustee”) of Grier Furr & Crisp, PA as the Interim Trustee for TSI Holdings, LLC.  The Order directs the Trustee to preserve property of, and prevent loss to, the bankruptcy estate and enumerates the following duties:  (1) take possession of the property of TSI Holdings, LLC’s bankruptcy estate; (2) collect and analyze TSI Holdings, LLC’s financial records to identify all property lost through fraudulent transfers and/or preferences, and to bring the property back into the estate for the benefit of creditors; and (3) take all other acts necessary to preserve and protect the property of TSI Holdings, LLC’s bankruptcy estate, including taking possession of property as might be necessary to prevent any further loss to the estate.

Since his appointment as the Trustee for TSI Holdings, LLC, the Trustee has been appointed in other bankruptcy cases for entities related to TSI Holdings, LLC:  WSC Holdings, LLC (Bankr. W.D.N.C. case number 17-30338); SouthPark Partners, LLC (Bankr. W.D.N.C. case number 17-30339); and Sharon Road Properties, LLC (Bankr. W.D.N.C. case number 17-30363).

This website will be the Trustee’s primary means of communication with investors and the public.  The Trustee will use this site to provide updates on the status of the TSI Holdings, LLC bankruptcy (and related legal proceedings) and to post pleadings entered in such actions.  Please be encouraged to post questions on this site, and the Trustee will answer those questions as time and resources allow, with a focus on fielding inquiries that have general applicability to all investors and/or the public.  You may also communicate with the Trustee at tsiholdings@grierlaw.com.  Please check back periodically for additional information.

REMINDER:  The deadline for submitting claims against the Siskey-Related Debtors is August 23, 2017.  For more information on filing claims in the bankruptcy case, please click the “FILING CLAIMS” tab at the top of this page.

Motion for Protective Order on Documents Subpoenaed from MetLife

On July 5, 2017, the Trustee filed a motion seeking a protective order from the Bankruptcy Court in order to preserve the confidentiality of certain information contained in documents subpoenaed from MetLife.  A hearing on the motion for protective order will be held on July 24, 2017 at 9:30am in Bankruptcy Courtroom 1-4 at 401 W. Trade Street, Charlotte, North Carolina.

DE79 – Motion for Protective Order on MetLife Materials

The Estate of Richard C. Siskey Auction Catalogue Now Available for View Online

Siskey Estate Auction Catalogue available here.

Order Directing United States to Turnover Funds Seized from Debtor’s Bank Account

TSI Order to Turnover Seized Funds

Information about Mainstar Trust Accounts

It has come to the Trustee’s attention that some investors with Mainstar Accounts may have value in those accounts in the form of a Cash Balance.

Research has revealed that historically valuation information regarding the interests in WSC Holdings, LLC, TSI Holdings, LLC, SouthPark Partners, LLC and/or Sharon Road Properties, LLC (“Siskey Bankrupt Entities”) was forwarded by Richard Siskey, or someone acting on his behalf, to Mainstar Trust on a quarterly basis.  Mainstar Trust would import that information into its system which would generate the value of the Siskey Bankrupt Entity reflected individual investor Mainstar Trust quarterly account statements.    That valuation was last provided to Mainstar in September, 2016 and has not been updated.    The values for those entities as reflected on the Mainstar Trust account statements are not reflective of today’s value because the Trustee is unable to place a value on the Siskey Bankrupt Entities at this time;  the values on the Mainstar Statements will continue to reflect September, 2016 values reported by Mr. Siskey.   The Trustee is working with his accountant to value these interests and intends to update the valuation before the end of 2017.

If you have a question about your Mainstar Account you may contact Carmine Matzkey at Mainstar Trust at 800-521-9897.

For Bankruptcy Proof of Claim purposes, to the extent distributions were made to an investor by a Siskey Bankrupt Entity in the form of checks sent to investor Mainstar Accounts, any such distributions should be reflected as distributions on the Proof of Claim Addendum whether or not the investor thereafter withdrew those funds from the Mainstar Trust account or not (to the extent withdrawal did not occur, those funds should remain in the Mainstar Trust accounts).

The Estate of Richard C. Siskey Auction Scheduled for July 20, 2017 at the Charlotte Convention Center

For more information, click on the following links:

https://www.ironhorseauction.com/auctions/detail/the-estate-of-richard-c.-siskey-and-diane-siskey-bw11427

https://stories.lelandlittle.com/the-estate-of-richard-c-siskey-and-diane-siskey/

 

Trustee Seeks Turnover of Funds Seized by U.S. Government

On May 25, 2017, the Trustee filed a motion seeking turnover of $8,422.01 seized by the United States from a deposit account in the name of TSI Holdings, LLC.  A notice of hearing with respect to that motion is linked below.

DE68 – NoH – Order Directing Turnover of Funds Seized from Bank Account

Submit Your Proof(s) of Claim by August 23, 2017

The Trustee and Bankruptcy Court are ready to receive claims in the Siskey-related bankruptcy cases (In re TSI Holdings, LLC (17-30132), In re WSC Holdings, LLC (17-30338), In re SouthPark Partners, LLC (17-30339), and In re Sharon Road Properties, LLC (17-30363)).

To properly submit a claim in these cases, you must electronically file both:  (a) the Official Form B410, “Proof of Claim” (available here); and (b) the court-approved claim addendum (available here:  Siskey Addendum to Proof of Claim Form) as an attachment to the standard form proof of claim.

Please submit one Proof of Claim form and addendum per each of the Siskey-Related Debtors in which you invested.

Claims should be filed electronically through the Bankruptcy Court’s website, accessible by clicking here.

The instructions for Official Form B410, “Proof of Claim,” are available by clicking here.

The deadline for submitting claims against the Siskey-Related Debtors is August 23, 2017.