InvestorsHub Logo
Followers 2571
Posts 306898
Boards Moderated 29
Alias Born 04/12/2001

Re: TheRealMrPirate post# 55703

Wednesday, 11/22/2017 4:27:05 PM

Wednesday, November 22, 2017 4:27:05 PM

Post# of 63188
I see that as a very real problem for whoever will be preparing the financial statements. There's no way those annual reports filed on 27 February can be removed from OTCMarkets. Hawley could hide them in the "inactive" file, but they're still available for the public to read.

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.