Olympus Swimming pools individual bankruptcy scenario: Operator has first creditor meeting

TAMPA, Fla. (WFLA) — The initially assembly of collectors in the bankruptcy scenario of the operator of the now-shuttered Olympus Pools took put on Thursday.

Olympus Pools proprietor James Staten and his wife Alexis confirmed assets, such as their Pasco County house – valued at $3.5 million, and the Olympus Pools building – valued at $1.5 million.

The pair instructed the trustee they moved their young children to show up at university out of the space for security causes, but said they vacation back and forth. They both equally reported they now do the job as consultants for an insurance corporation.

A lot more than a dozen creditors ended up on Thursday’s meeting – which took place by cellphone – but no homeowners spoke.

While hundreds of customers filed grievances with the legal professional general’s office about unfinished pools, there are at this time only 27 formal creditor claims. In addition to consulting work, James Staten claimed he has the prospective to collect funds from two other destinations: $1 million in accounts receivable- including some prospects he claims owe the organization, and from a 5 per cent possession he statements he has in his previous organization partner’s enterprise, Staycation Pools and Spas.

That is a claim that associate, Jordan Hidalgo, denies.

As this case moves ahead, there is another scenario to retain for buyers to enjoy: Lawyer General Ashley Moody has sued Olympus Swimming pools and James Staten. There are no hearings scheduled in that case yet.

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