Treatment Abuse, Behavior Modification, Thought Reform > The Ridge Creek School / Hidden Lake Academy
HIDDEN LAKE ACADEMY,INC. FILES BANKRUPTCY
Anonymous:
I am a current parent and I know. It doesn't take much to figure out what is happening when you get a letter that asks you to pay the last month's tuition far in advance of when your child is to complete the program.
Bucca has to be a narcisisst to send out the letters he does and expects everyone to beieve him? HLA claims they have another location to continue operations and they have laid off staff and continue to take in new students. They have taken advantage of parents desperate to get help for their child and are charging an incredible amount of money to do so.
TheWho:
--- Quote from: "guest99" ---HLA Bankruptcy Lawyer asked for an expedited hearing, yet the filing was deficient with regard to the financials. Now HLA is required to do what they are asking of Nancy Pelosi. This may be good for Berger and Montague as they cannot seem to acquire financial documents, post discovery from Buccellato. Although even though the documents are being submitted to court, I wouldn't place much weight on them. Afterall, a sworn affidavit to the Federal court by Buccellato meant nothing.
To be Filed Within Fifteen (15) Days From the Date of Filing of the Petition
Statement of Financial Affairs (Form 7)
Schedule A
Schedule B
Schedule D
Schedule E
Schedule G
Schedule H
Summary of Schedules, Page 1 (Form 6?Summary)
Statistical Summary (Form 6?Summary)
Declaration Concerning Debtor's Schedules (Form 6)
Attorney Disclosure of Compensation Form 203
Dated:
--- End quote ---
This is boilerplate stuff to show the court that HLA cannot continue to stay afloat with its existing debt. Does anyone know what they are filing for?
Chapter 11 is just a formality of reorganization and will relieve HLA of their debt and allow them to continue even stronger. (Like what GM is trying to do). This would allow them to expand and increase their profits almost immediately.
Chapter 7 would force them to liquidate or sell their assets to satisfy what they owe and essentially close the place down.
Anonymous:
To the above poster, go back to the first page of this topic. It is all there.
Anonymous:
Will the Chapter 11 bankruptcy protect HLA from foreclosure and the settlement( although he signed an affidavit of personal guaranteet to the court), which pre-dated the bankruptcy filing? If his attorneys think it will, I gather that is why they all wanted the Chapter 11 hearing expedited before the sale. One would think if the morons were in that much of a hurry, they would have attached the financials..
Anonymous:
Management fees taken out of just HLA for the last three yearsappears to be over 3,000,000. Where do you think that went? I think Buccellato should have enough in his personal kitty to flip the settlement bill. Perhaps B&M through subpoena, should check 'all' the traffic through 'all' the Merrill Lynch accounts, even if they are no longer active... I don't think Blackmon wants any more trouble coming his way after all the press he got. Maybe he is gone with the BofA
change over, but records stick around unless one shreds them or has a bonfire. Wasn't there a movie "Bonfire of the Vanities"...
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