Bankruptcy filing exposes litigation, shell organizations
Utilities Inc. attorney Laura Granier accused Willow Creek golf course owner Jim Scott of playing a shell game with his numerous businesses during litigation over the upkeep of the ponds.
A Chapter 7 bankruptcy filing by Scott in the Eastern District of California on Jan. 30 appears to bear that accusation out. Court records reveal a tangled net of different limited liability corporations and adequate lawsuits and unpaid judgments to preserve a fat Las Vegas law firm busy for years.
Scott lists $ 2.15 million in assets, in each genuine and individual house in this bankruptcy, and $ 35.15 million in liabilities — $ 6.83 million in secured claims and $ 28.three million in unsecured, non-priority claims.
The California bankruptcy petition involves a long list of firms in which Scott has an interest. They include:
* A one hundred % ownership of Gulf Union Inc., a company that submitted a stalking horse bid on Willow Creek Golf Course in 2010
* A 49.52 % ownership in Caldera Corporation, which has a one hundred % ownership in Sunray Petroleum Inc.
* Full 100 % ownership in Funds Max Corp., in All Capital Funding LLC, in Seventh Company Inc., in Wonderful Anticipation LLC and in Sunset Parkson Plaza LLC
* An 80 % interest in Trimco LLC and an 80 percent ownership in Western Pozzolan Inc.
* An 86 percent interest in SCRS Investors LLC and a 91.57 % interest in SCRS Technologies No. 1 LLC SCRS Investors LLC is listed as the holder of a promissory note in the Willow Creek bankruptcy
* An 86.63 percent interest in Earthco Investors LLC, an 85 percent interest in Charleston Major Casino LLC and an 85 percent interest in Herko Investments LLC
* A 31.25 percent interest in Pahrump 15.66 LLC for the foreclosed Ishani Ridge subdivision along with a 75.08 percent interest in Pahrump 37 LLC and an 86.63 % share in Pahrump 88 LLC through Earthco Investors LLC. Vision Acquisitions LLC is listed in the Nevada Secretary of State’s records as the managing member of Pahrump 88 Vision Acquisitions lists as a managing member Pahrump developer Brock Metzka
* A 28.33 percent interest in Pahrump 161 LLC
* Caldera Corporation has a one hundred % interest in Caldera P & G, present owner of Willow Creek Golf Course
* A 30 % interest in FB-29 LLC a 50 % interest in Hotel Holding Organization and a 19 percent interest in Butte Stonegarden Business
* A 100 percent interest in Pacific Coast Living LLC, a project in San Diego, a one hundred % interest in Stone Gate Winery Co. and a one hundred percent interest in Vegas Landmark LLC.
If Scott’s holdings are confusing, the number of lawsuits against a quantity of his enterprise interests is equally baffling.
Secured claims in the California bankruptcy include a $ 1.1 million judgment lien by Second District Court in Washoe County a $ 316,715 1st deed of trust for his residence in Sacramento, Calif. a $ 149,876 1st deed of trust for his home in Maui a $ 559.742 very first deed of trust by Chase Bank and a $ 1.9 million second deed of trust from Nevada Buttes in Yuba City, Calif. for more property in Sacramento a $ 1.9 million judgment lien from Clark County and a $ 900,000 1st deed of trust from Union Home Loan for two a lot more parcels in Sacramento.
Floyd’s Construction has an $ 18,750 unsecured claim in the California bankruptcy. Lakeside Mortgage of Reno has a $ 12.5 million private guaranty and Lexon Insurance coverage Organization of Mt. Juliet, Tenn. have a $ 3 million private guaranty for Pahrump 88 LLC, developers of the defunct Ishani Ridge project.
Lawyer Matthew Callister, who sued Utilities Inc. of Central Nevada over Willow Creek golf course, has a $ 200,000 claim. Worth Recovery Group LP of Columbus, Ohio has a $ three.7 million unsecured claim from a breach of contract/guaranty case won by Neighborhood Bank of Nevada in Clark County. Interest Earnings Partners has a $ two.7 million private guaranty for Western Pozzolan Corporation.
Beyond the claims of private entities, Scott lists a quantity of government agencies holding unsecured priority claims, including the Internal Income Service, Franchise Tax Board of California, Employment Department and California State Board of Equalization.
The judgment lien by Utilities Inc. of Central Nevada has been in the Pahrump press more than lawsuits filed against Willow Creek Holdings LLC and Ashland Capital LLC. But Scott has a long list of litigation in his unsecured non-priority claims. It contains a $ 1.69 million claim by 580 Parkson Road LLC in a breach of guaranty judgment in the Second District Court in Washoe County.
Gallipeau Associates Inc. won a judgment against Scott over breach of contract filed in Clark County and has a pending case for fraudulent transfers in the Superior Court of California, Sacramento County.
Jeffrey Evans sued Hotel Holding Company for breach of contract in Clark County.
A case was stayed, filed by Lexon Insurance coverage Company against Pahrump 88 in Clark County, for breach of contract.
David Flynn sued Scott’s company Sunray Petroleum Inc. in Clark County over a loan.
A case filed by Stone Garden Vineyards in the San Joaquin County Superior Court of California against the Regional Financial Development and Group Inc. et al, for breach of contract was dismissed without prejudice.
Piper Investments LLP received a judgment against Western Pozzolan Corporation in Clark County for breach of contract.
Steve Yanke received a judgment against Pahrump 37.65 LLC in Clark County District Court for breach of contract and has a pending case in Superior Court of California, Kern County.
Nevada Buttes won a judgment against Herko Investments in Second District Court in Washoe County for breach of guaranty.