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Monday, April 10, 2017

Priceville Partners creditors have not received money in bankruptcy case By Keith Clines Staff Writer


Blogger Comments: 

Sheriff Ana Franklin has lied so many times to the people of this county, the news media, and the local news channels I honestly do not know how anyone can believe a word she says.  Governor Bentley is one of Sheriff Ana Franklin's biggest fans and supporter.  Want to know why we here in Morgan County, Alabama could not get anything done?  Two names Governor Bentley and Luther Strange.  


It is sickening to hear how Bentley dragged Hanna thru the mud, demeaned her and threatened her because his sorry self.  The bile you read coming out of his mouth is some of the same bile that came out of Sheriff Ana Franklin's mouth.  The threats to employees, inmates, and setting up citizens for crimes they didn't commit is sickening.  Why?  Because these slime balls in their high-powered position think they are above the law.  Now that the shoe is on the other foot, how does that make you feel Luv Guv?   One at a time. Tic Toc.....
None of the creditors with claims against Priceville Partners LLC have been repaid any money from the company’s year-old federal bankruptcy case, the bankruptcy trustee said.
Among the unpaid creditors is Morgan County Sheriff Ana Franklin, who loaned the company $150,000 from the Morgan County Jail inmate food account.
Stuart Maples, a Huntsville attorney appointed as trustee in the case, said last week that he is trying to collect all the company’s assets and determine a fixed list of creditors to pay.
“We could have a partial distribution in the fall,” he said.
Unsecured creditors would receive a pro rata share of the money from liquidating the company’s assets.
Priceville Partners filed for Chapter 11 bankruptcy in the Northern District of Alabama in March 2016 with a list of more than $5.4 million in claims from creditors. The company’s filing said it had between $500,000 and $1 million in assets.
The company had used-car dealerships in several locations, including Performance Auto Sales on Point Mallard Parkway in Decatur and on Alabama 157 in Moulton.
Federal bankruptcy Judge Clifton R. Jessup Jr. on Jan. 27 approved the company’s reorganization plan that showed more than $5.96 million in unsecured claims by creditors, court records show.
The bankruptcy was filed by Harold Jeffreys, a Decatur businessman and former banker who owns 60 percent of the company.
Greg Steenson, who owned 40 percent of the company, was sentenced to four years in federal prison and ordered to pay more than $5.2 million in restitution after pleading guilty in 2002 to bank fraud conspiracy charges.
Jeffreys claims in a civil lawsuit he filed against Steenson in late 2015 that Steenson owes him $3.2 million from unpaid loans and misappropriated money from the company. The case is set for a jury trial on June 12 in Morgan County Circuit Court.
Steenson has agreed to a judgment requiring him to pay the company $750,000, Maples said. Jessup could approve the judgment this week, he said.
Maples said he doesn’t know if Steenson has the ability to pay the judgment.
“If I could find some assets of Greg Steenson’s, I could drag him back into bankruptcy court and make a distribution to creditors,” Maples said.
Steenson was released from Limestone County Jail on $285,000 bail after his August arrest on eight counts of first-degree theft, two counts of second-degree forgery and one count of second-degree theft, according to court records. He was moved from Morgan County Jail to Limestone because of Franklin’s connection with the dealership.
Steenson is accused of selling vehicles for which he did not have a title and for forging names on documents to get replacement titles for cars he sold, Morgan County District Attorney Scott Anderson said.
Steenson has a pending motion in front of Circuit Court Judge Glenn Thompson asking for permission for limited out-of-state travel as a salesman for Dixie Playground and Equipment Co. of Falkville. Thompson previously denied a similar travel motion.
Priceville Partners’ assets to be sold at auction are primarily automobiles. Filings in the case said the list of vehicles to be sold can increase as vehicles are repossessed, dropped off by customers, or recovered from garages or third parties.
Maples said anyone who bought a vehicle from one of Priceville Partners’ dealership in good faith and who is current with monthly payments will be protected in the bankruptcy proceedings. That includes customers who bought a vehicle from any of Priceville Partners’ dealerships, even if Priceville Partners didn’t hold the vehicle’s title, Maples said.
“If they’re paying for the car, they’re not going to lose their car,” said Maples, the court-appointed trustee who is running the reorganized company out of Moulton’s Performance Auto Sales. The Moulton dealership is the only location that has remained open.
Mason Johnson, of Danville, has been frustrated trying to make sure he can keep the 2003 Chevrolet Avalanche he bought at Performance Auto in Decatur a few months before the bankruptcy filing.
Johnson said Maples told him the legal owner of the vehicle was Lynn Layton Chevrolet in Decatur.
“Performance Auto never owned the title,” Johnson said. “They didn’t own the vehicle to sell it.”
Johnson said he made Maples an offer that would allow him to keep the Avalanche. “He seemed OK with me giving him $2,000 to keep the truck,” Johnson said.
In addition to not owning the title, Johnson said Performance Auto lied to him about the mileage on the vehicle, and he said the motor and transmission both failed.
“They were crooked as hell out there,” he said. “It’s been nothing but trouble with them.”
Court records show 130 companies and people who have made bankruptcy claims against the company. Jeffreys’ $3.4 million claim is the largest.
Franklin’s $150,000 claim is a loan she made to the company in June 2015 from what she then called her “savings for retirement.” Franklin since has said the money came from the account used to feed Morgan County Jail inmates.
State law allows most sheriffs in the state to keep money left over from feeding inmates, but a 2009 amended consent decree from a 2001 civil lawsuit against the county about jail conditions requires all money the Morgan County sheriff receives to feed inmates be used only for that purpose.
Franklin has replaced the $160,000 she took out of the food account, but said in a filing in the jail lawsuit that she has not recovered any of the $150,000 she loaned Priceville Partners.
Maples said “none of that money” Franklin put back in the food account came from Priceville Partners.
A federal court hearing is scheduled for 1:30 p.m. Friday in Decatur to determine if Franklin should be held in contempt of the order for using the inmate food money for other purposes.
In June, Jeffreys filed a lawsuit in circuit court against Joseph Wynn and the accounting firm of Wear, Howell, Strickland, Quinn & Law LLC in Decatur claiming that Wynn and the firm failed to furnish him reliable financial information about Priceville Partnership’s business as they were hired to do.
Jeffreys’ lawsuit said Wynn and the firm were negligent and careless in passing along financial information about Priceville Partners from Steenson without verifying the information was correct. Jeffreys said he lost $3.8 million because of the accountant's neglect.
Wynn and the accounting firm denied Jeffreys’ claims, and said that if he suffered any losses, it was from the actions of another party.
Wynn did not return a telephone message seeking comment Friday.
A jury trial in the case is scheduled for June 12 in Morgan County Circuit Court.
Jeffreys has won a lawsuit he filed in Morgan County Circuit Court on July 11 to have Steenson and his wife, Robin Steenson, move out of their house at 38 Jackson Way in Decatur, according to court records. Jeffreys said in his complaint that he and his wife, Judy B. Jeffreys, foreclosed on the property and received title on March 30, 2016.
District Court Judge Charles Langham issued a default judgment for Jeffreys after Greg Steenson did not respond to the lawsuit, court records show.
Robin Steenson filed for divorce from Greg Steenson on Feb. 17, 2016, on grounds of incompatibility, according to court records. The divorce became final March 29, 2016.
keith.clines@decaturdaily.com or 256-340-2438. Twitter @DD_KeithClines.

27 comments:

  1. Harold Jeffreys, 60% owner. Why was Mr Jeffreys, a supposed trusted businessman, in a partnership with a known felon? Jeffreys was a local banker, surely he was aware of Steenson's history of defrauding banks. What other questionable business dealings was Jeffreys involved with?

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  2. How much money has been paid to Ana Franklin from this business

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    1. No idea, but if this car dealership was scamming and ripping off it's customers, as Glenda claims, then Jeffreys must be a crook. As the majority holder, this was HIS business.

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  3. Yes probably. As I have been told cars and trucks impounded by the sheriff's office have been sold through them also

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  4. Is Harold Jeffreys a crook? You decide. Here are a few facts that he would prefer keep to himself.
    1. Harold used the investors money at Priceville Partners to buy his son Ben Jeffreys a new Ford Mustang Gt, all Ben had
    To do is pretend to stop smoking.
    2. Harold bought Ben a new 2500 diesel Chevrolet High Country pick up to drive when he didn't want to drive the
    Mustang GT. Once again on the back of the investors.
    3. Harold also let Ben buy a new Polaris RZR for around $20,000. Ben got drunk and wrecked it a few days after he got it, he fixed it and sold it and kept the money for himself.
    4. Another interesting fact, Harold bought Ben a new house, only after Ben agreed to leave his x wife, the mother of his son. All because Harold and Judy hated her so bad, and they call themselves Christians. Think about that a minute.
    5. Then there was the time Ben got himself a DUI and the bond and insurance for the whole operation was cancelled.
    Harold worked hard to keep that covered up.
    6. Harold has a classic Corvette that was purchased by the dealership. I am sure the investors would like to have it to sale.
    7. Harold purchased a Ford dump truck that cost around $30,000 with investor money. Wonder what happened to it?
    8. Harold also bought a Kubota tractor and several pieces of equipment that went with it. All new of course, and at investors expense. But I understand it was a nice one, that he is proud of.
    9. One of Harold's favorite toys was a customized van he bought with investor funds to travel to and from ball games in. I hear it made travel much easier.
    10. And of course Harold bought several new Chevrolet and Ford trucks with investor money that he drove personally. He sold one of his personal vehicles to a guy from Falkville that had to give it back because Harold would not get him a title.

    It seems that the truth is slowly coming out. I hear that there are attorneys and accountants involved now that can't be paid off by Harold, and I think good unbiased views will show the Jeffreys for who they truly are.

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    1. Let's not forget the black customized new Chevrolet 2500 crew cab with dealer plates that ziaja had. It ain't all the Jeffrey's

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    2. Facts?! Just because you say something, that doesn't automatically mean it's true, let alone a "fact."

      The Mustang GT was sold at Dealers Auto Auction in Athens and everything that was made from the sale of this vehicle went directly into the bankruptcy lawyer's trust account for Priceville Partners...for the benefit of the creditors (Mr. Jeffrey's did not even have access to this account).
      The 2500 Chevy diesel suffered the same fate as the Mustang GT. Sold at Dealers Auto Auction, and the money from it went into the bankruptcy trustee"s secure account for the benefit of the creditors.
      The house Ben lives in was bought with Mr. Jeffreys' personal money. It did not and does not belong to Priceville Partners or the car lot.
      Why is what Ben does (or has done) in any way supposed to imply that Mr. Jeffreys did anything wrong, let alone illegal?
      The classic Corvette was given to Mr. Jeffreys as a Christmas gift from Ben and Greg Steenson. It was also sold at DAA and the money went into the attorney's trust account.
      What dump truck?!!
      The Kubota and all of the accessories to go with it was auctioned off at DAA, just like the Mustang, Chevy truck, Corvette, etc.
      Mr. Jeffreys does not even attend high school ball games...or college games. So why would he need a customized van? The answer is he would not.
      The Chevy and Ford trucks were all leased, although Greg Steenson did sell one of the trucks that was leased to his former father-in-law.

      Hope this helps clear things up!





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    3. If Steenson sold a vehicle to his father in law who got the money. I bet it went into Jeffreys business, which would make Jeffreys responsible. Let's see what kind of spin the spin master can put on this.

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    4. No money ever changed hands on that transaction. It was a straight up trade. Steenson's father-in-law traded him truck-for-truck...a 2013 Silverado for a 2014 Silverado.

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    5. why are you hillbillies trying once again to deflect the acts of what this blog seems to be. Give the public facts of why the the sheriff of morgan county spent inmate food funds into a convicted felons car lot as well as other law enforcement officers...the public could give a rats ass about the wrongdoings of the blogger...the jeffries.

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    6. Again, the car lot belonged to Jeffreys. How hard is that for you idiots to understand?

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  5. I wasn't aware of that, but not surprised.

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  6. Well I am not going to defend anyone involved. They should all stand on their own and prove their own innocence. Ana invested money that wasn't hers. Did she receive money from the dealership ( I personally believe that she did) if she did the money belongs to Morgan County not herself. She is a criminal

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  7. Facts?! Just because you say something, that doesn't automatically mean it's true, let alone a "fact."

    The Mustang GT was sold at Dealers Auto Auction in Athens and everything that was made from the sale of this vehicle went directly into the bankruptcy lawyer's trust account for Priceville Partners...for the benefit of the creditors (Mr. Jeffrey's did not even have access to this account).
    The 2500 Chevy diesel suffered the same fate as the Mustang GT. Sold at Dealers Auto Auction, and the money from it went into the bankruptcy trustee"s secure account for the benefit of the creditors.
    The house Ben lives in was bought with Mr. Jeffreys' personal money. It did not and does not belong to Priceville Partners or the car lot. Also, hypothetically, if a woman --the mother of your grandson-- was not "faithful" to your only son, how would you (personally) feel about that woman?
    Why is what Ben does (or has done) in any way supposed to imply that Mr. Jeffreys did anything wrong, let alone illegal?
    The classic Corvette was given to Mr. Jeffreys as a Christmas gift from Ben and Greg Steenson. It was also sold at DAA and the money went into the attorney's trust account.
    What dump truck?!!
    The Kubota and all of the accessories to go with it was auctioned off at DAA, just like the Mustang, Chevy truck, Corvette, etc.
    Mr. Jeffreys does not even attend high school ball games...or college games. So why would he need a customized van? The answer is he would not.
    The Chevy and Ford trucks were all leased, although Greg Steenson did sell one of the trucks that was leased to his former father-in-law.

    Hope this helps clear things up!

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  8. We notice you didn't address a couple of things like the razor, but let's suppose for a minute your summary is correct (which I seriously doubt) one can't help but wonder how much money was lost on these purchases. My guess would be a lot. That of course would be money taken directly out of the investors pocket. Next, how about the 17% interest that Harold Jeffreys paid himself each month for the money he loaned his OWN company. That had to cost the investors a significant amount of money. Somehow paying yourself with investor funds at a rate of 17% on money you put in your own company just doesn't seem right. But what do we normal working people know. Another brain teaser that comes to mind is how does he sue Steenson for 3 plus million dollars and then list it as a debt owed you by the company you OWN. Strang.

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    1. Don't be stupid. Jeffreys loaned the company his own money. He had every right to receive interest on his investment. You seem to forget that you Greg, Booger, and Ana got a 45% on your return.

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  9. Why is everyone trying to deflect attention to put a bad spin on everyone except for the high sheriff who decided it was ok to invest 160k into a convicted felons car lot...then lie 3 times about where the money came from...goodbye thugs

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  10. Dont blame the jeffreys...they apparently thought steenson was a changed man...gave him a chance to show his son a new business. Focus on why the high almighty sheriff thinks its ok to spend morgan county tax dollars and federal food funds. Bentley cant hold a candle compared to what she has done to our county.

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    1. Don't blame Franklin, she thought Steenson was a changed man. See how easy that is?

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    2. Franklin is also Steenson's cousin. She should have known better.

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    3. GIVE ME A BREAK!! Sheriffs police officers etc DO NOT CONSORT WITH NOR DO BUSINESS WITH A CONVICTED FELON. Steenson her cousin is a convicted felon. Stop it people no excuses

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  11. Yes the Sheriff stealing from people locked up in jail. Taxpayers money paid to feed them. The only reason there was money left over in the food account is Ana putting money from other sources in the account.

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  12. Oh look... Jeffreys playing the victim, supplying info to Glenda. What a shock.

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  13. Glenda, the truth is beginning to come out on the Jeffreys family. For over a year now we have all heard the poor pitiful Harols and Judy story, guess what, nobody believes it anymore. You see when you pay these so called accountants and lawyers hundreds of thousands of dollars each they do and say what you want them to. Kinda like you do for the Jeffreys, but when new accountants and attorneys get involved that Harold can't control or manipulate the truth begins to come out. Just watch, the best is yet to come from what I hear. Harold has a long list of business deals where he was supposedly the "victim" and lost money, inquire on those for your readers. It's a pattern in his life to be the victim. Good day.

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    1. From what you hear, hmmm? And where exactly did you hear it? Considering the source is usually always a pretty good indicator.

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