(b) The Motion proposes to pay four months’ rent to Eagle View One in the amount of $24,000. This figure cannot be correct. On September 27, 2007, Eagle View withdrew its Motion for Relief, indicating that Plasticon was now current on its rent obligations. Docket #235. The monthly rent was $5,662.50; therefore any obligation for the period October 1 - November 7 would be significantly less than $24,000. Upon information and belief, this proposed payment may instead be diverted to pay the rent of TelcoBlue, Inc., a corporation controlled by former Plasticon CEO James N. Turek. See Withdrawal of Motion for Relief from Stay, Docket #235 (“TelcoBlue has not paid its rent at this time.”).
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02/04/2008 367 Objection Filed by U.S. Trustee (RE: related document(s)357 Motion to Approve, filed by Trustee Stephen Palmer). (Daugherty, John) (Entered: 02/04/2008)
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Claim 17
Extract
February 6, 2008
Eagle View One, LLC,
a Kentucky Limited Liability Company
3288 Eagle View Lane, Suite 300
Lexington, Kentucky 40509
To Whom It May Concern:
Regarding TelcoBlue, TelcoBlue is current on its rent through January, 2008. TelcoBlue has not paid its February, 2008 rent as of today, February 6, 2008, the same now being late.
Regarding Plasticon, per 11 U.S.C. 502(b)(6), Eagle View One is entitled to administrative expenses of the greater of (a) one year's rent ($67,950.00) or (b) 15% of the rent remaining under the lease, but not to exceed three (3) years rent ($33,125.00), Thus, Eagle View One is entitled to $67,950.00 priority administrative expenses.
Thus, the $24,000.00 listed is less than the administrative amount to Eagle View One, LLC is entitled and Eagle View One, LLC is still owed the remaining monies under 11 U.S.C. 502(b)(6) of the total administrative entitlement of $67,950.00.
(Plasticon did not pay rent from 10/1/07 to present).
Managing Member of Eagle View One, LLC
Telephone: (859) 321-3211 |
