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Wednesday, November 22, 2017 4:27:05 PM
McCusker, in his BK filings, now says those two companies--McCusker & Company and Service USA--are completely worthless, and that he still owns them. So what happened between then and now? In the BK filings, he says he sold McCusker & Company of the Caribbean, McCusker Service Group, Inc., and McCusker Holding (no S) Corp to the ORRV shell:
Now, IF, as was said in the 27 February annual reports, McCusker & Company and Service USA were simply subsidiaries of McCusker Holding, then everything would be fine. They'd have been sold to ORRV along with McCusker & Company. It was in fact long assumed that was what had happened.
But now, for the purposes of the BK, McCusker says he STILL owns McCusker & Company and Service USA, and that the debt owed by them should be discharged in the bankruptcy.
Do you see the difficulty with all this? It seems to me to be a serious one.
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