Welcome

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.

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Trustee Joseph W. Grier, III has filed his  Memorandum of Law in support of the Trustee’s First Omnibus Report of Claims, Objections to Claims, and Recommendations Regarding Claims as to TSI Holdings, LLC, WSC Holdings, LLC, SouthPark Partners, LLC, and Sharon Road Properties, LLC  addressing the responses filed thereto, as well as an Affidavit of Edward P. Bowers Regarding Sharon Road Properties, LLC.  The Court will hold hearings on January 24, 2018 at 9:30 am Bankruptcy Courtroom 1-4 at 401 W. Trade Street, Charlotte, North Carolina to consider legal issues raised in the responses filed as to Trustee’s Claims Report, including challenges to the proposed net-investment method of claims determination, and on February 5, 2018 at 9:30 am in the same court room to hear any evidence with regard to responses filed as to the Trustee’s Claims Report.

Trustees Memorandum of Law in Support of Claims Report

DE154 – Amended Affidavit of Ed Bowers – Trustee Brief ISO Claims Report

 

Order on Motion for Reconsideration

The Motion for Reconsideration was granted at the January 8, 2018 court hearing.  The Trustee is relieved from re-noticing a new response period as to the Claims Report at this time.  As previously ordered, the Court will hold a hearing on claims’ determination methodology on January 24, 2018 at 9:30 a.m. in the Bankruptcy Courtroom in the Charles Jonas Federal Building, 401 W. Trade St., Courtroom 1-4, Charlotte, NC.

 

Siskey Order

Trustee’s Motion for Approval of Settlement with Denise Rhodes

The Motion requests approval of a settlement with Denise Rhodes for the sum of $220,000.00 after a demand for $250,008.58 in life insurance proceeds received after the death of Richard Siskey. If you agree with the relief requested then you do not need to respond or attend the Court hearing thereon. If you do not want the Court to approve the Motion or if you would like the Court to consider your views on the Motion then on or before January 31, 2018 you or your attorney must file with the Court a written response explaining your position and requesting the Court consider your position. Any response should also be served upon the Trustee. If responses are filed, the Court will hold a hearing on the Motion on February 12, 2018 in the Bankruptcy Courtroom in the Charles Jonas Federal Building, 401 W. Trade St., Courtroom 1-4, Charlotte, NC.

 

Motion to Approve Settlement with Denise Rhodes

Motion to Approve Settlement with Denise Rhodes Exhibit A

Trustee’s Motion to Reconsider Bench Order (A) to Re-Notice Response Deadline Regarding Trustee’s Claims Report and (B) Setting Claims for Claimants not Filing Responses

On January 3, 2018, Tobitha Deese filed a response to the Trustee’s motion asking the Bankruptcy Court to reconsider a bench order by (a) relieving the Trustee from immediately re-noticing the Trustee’s claims report and (b) not solidifying the claims of those claimants who did not file a response to the claims report.  A copy of Deese’s response is attached.

Also on January 3, 2018, the Trustee filed a reply to Deese’s response, which is also attached. The hearing on these issues will be held on January 8, 2018 at 9:30 A.M. in Bankruptcy Courtroom 1-4 in the United States Courthouse, 401 West Trade Street, Charlotte, North Carolina.

  DE145 – Tobitha Deese – Response to Motion to Reconsider

DE147 – Reply to Deese Response to Motion to Reconsider

Trustee’s Motion for Approval of Settlement with Benjamin Lowder

The Motion requests approval of a settlement with Benjamin Lowder for the sum of $220,000.00 after a demand for $250,008.58 in life insurance proceeds received after the death of Richard Siskey.  If you agree with the relief requested then you do not need to respond or attend the Court hearing thereon.  If you do not want the Court to approve the Motion or if you would like the Court to consider your views on the Motion then on or before January 25, 2018 you or your attorney must file with the Court a written response explaining your position and requesting the Court consider your position.   Any response should also be served upon the Trustee.  If responses are filed, the Court will hold a hearing on the Motion on February 12, 2018 in the Bankruptcy Courtroom in the Charles Jonas Federal Building, 401 W. Trade St., Courtroom 1-4, Charlotte, NC.

SiskeyMotiontoAppLowder

SiskeyLowderSAfiled