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Post by whatwouldherbdo on Sept 13, 2013 15:30:56 GMT -5
Well,
I'd like to know some of the reasons that she is "retaining the forms, but not signing them"... I calculate that it would take roughly 15 minutes to sign all 300 employees forms. Heck, she could sign 3 per day to have it done within the month.
If I lived in FL, I would definitely stop by Adams and Reese, as well as the BK court next week to see if any of the Corporate Officers have to testify. I'd probably swing by Orlando as well to see the shiny new offices where Avantair was located there.
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Post by pay me on Sept 13, 2013 21:26:26 GMT -5
I have attempted to contact lynn sherman a dozen times so far with only one reply to my requests to gain access to my 401k. As previously posted all we need is a signature from her and she won't do it. The only response I got was that the court is looking for a third party to handle our accounts. I don't need a third party, all I need its a simple signature so I can pay my mortgage.
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Post by whatwouldherbdo on Sept 13, 2013 23:22:14 GMT -5
Hey avwriter,
Obviously our employees who have tried to contact Ms. Scharrer and Ms. Sherman have had little to no success in getting a simple signature, compared with your success of getting actual face time and conversation with them. If you go to court again, could you possibly ask why they are wasting time trying to pay a third party for $6000.00, when the individual employees could do it for free? All that would be required of them is take an hour to sign all the employees paperwork (1 signature, Page 8). And what happens when we are with a third party after the Chapter 7 is complete, yet not with another employer? Who will sign our paperwork then? I know, that's a rhetorical question.....
Thanks for your updates and help....
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Post by Volunteer on Sept 14, 2013 7:18:28 GMT -5
It is unclear now if the "third party" refers to another firm, besides CPI, to handle the accounts or another law firm to sign the transfer/cash-out forms?
The only thing even tangentially associated with Avantair at this point that is worth anything is the aggregate money in the 401k accounts.
401k firms have to come up with the money when asked; they are under the US Dept of Labor regulations. CPI was recently bought out by the much larger CUNA corporation, so the money is there or they will have to scrounge around and get for you somehow.
Something here still smells like a dead fish. The bankruptcy trustee could sign the forms; it does not have to be the unresponsive lawyer.
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Post by Guest17823789139 on Sept 14, 2013 16:54:06 GMT -5
The bankruptcy trustee Is the unresponsive lawyer...
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Post by Volunteer on Sept 14, 2013 17:33:05 GMT -5
I thought Lynn Sherman was an attorney for the trustee, not the trustee?
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Post by whatwouldherbdo on Sept 14, 2013 19:37:32 GMT -5
Correct,
But Mary Beth Scharrer is ALSO an unresponsive attorney........
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Post by Volunteer on Sept 15, 2013 11:41:45 GMT -5
If Mary Beth is saying that CPI is dragging their feet and they need to transfer all the accounts to another firm she is orbiting Pluto. If CPI is drawing out the procedure all Mary Beth she has to do is call the US Department of Labor.
That said, you have to ask who benefits by drawing out the redemption/transfer of the funds. The only party that really benefits is CPI. They don't have to sell the mutual funds or raise cash or make portfolio adjustments or forgo the periodic fees. It is really sad if CPI is doing this while their customers are hurting badly.
It is well past the time someone from CPI has a face-to-face meeting with Mary Beth.
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Post by whatwouldherbdo on Sept 16, 2013 16:45:26 GMT -5
If Mary Beth is saying that CPI is dragging their feet and they need to transfer all the accounts to another firm she is orbiting Pluto. If CPI is drawing out the procedure all Mary Beth she has to do is call the US Department of Labor. That said, you have to ask who benefits by drawing out the redemption/transfer of the funds. The only party that really benefits is CPI. They don't have to sell the mutual funds or raise cash or make portfolio adjustments or forgo the periodic fees. It is really sad if CPI is doing this while their customers are hurting badly. It is well past the time someone from CPI has a face-to-face meeting with Mary Beth. Volunteer, Trust me when I say this... CPI IS NOT THE PROBLEM!!! A simple call to them will get you the form that you need to cash out or roll over your funds within 5 business days. But there is a problem: The Trustee's attorney, Ms. Lynn Welter Sherman, already has completed Participant Request for Distribution Forms on her desk, but is refusing to sign them. So please tell me what good a meeting with the Trustee and CPI will do. Ms.Scharrer and Ms. Sherman are the problem, not CPI!
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Hungry & homeless soon
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Post by Hungry & homeless soon on Sept 16, 2013 17:12:14 GMT -5
I had no problem speaking with someone at CPI and they sent me the required forms and told me to have them signed and I would get my money. I also spoke with Mr. Funkhouser who basically said the same thing....get a signature and get your money.....no one will sign it.
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Post by volunteer on Sept 17, 2013 7:40:35 GMT -5
Ask the Tampa Tribune to write an article about the situation. The one thing sleazy lawyers don't like is sunlight. Also contact your congressman, both senators, the governor, the Florida bar association, the Florida attorney general, and the securities and exchange commission.
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Post by Volunteer on Sept 17, 2013 10:21:08 GMT -5
Contact the Department of Labor's Pension Welfare and Benefits Administration (202) 693-8300.
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Post by aircraftmx on Sept 26, 2013 12:08:53 GMT -5
Updates?
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Post by Guest85236554 on Oct 3, 2013 13:04:07 GMT -5
How is their stock still trading?
Avantair Inc. (OTCBB:AAIR) is up 28 per cent today. Closing at .5 cents yesterday and opening at .64 cents on Thursday, the stock has remained at that level and is trading in the area of 50,000 shares. No news from the company has been released lately but this is a good penny stock pick to grab because it has remained consistent for the past month, falling only slightly from its high of .9 cents early in September.
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JustFellOffTheTurnipTruck
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Post by JustFellOffTheTurnipTruck on Oct 3, 2013 13:23:07 GMT -5
Bhaaaaaaaaaaaaaaaaa Haaaaaaaaaaaaaa Haaaaaaaaaaaaa thats funny I don't care who you are.
Now, you owe me a new keyboard cause I just spit coffee all over mine.
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