Stanton Scams? EFTI/USSE/USSP/USEI/OSSG

[Bob22701]

Castcrete plant's sale before federal court

Castcrete plant's sale before federal court
By Mary Hurst
News Chief staff
Published: Thursday, October 18, 2012 at 8:07 a.m.
Last Modified: Thursday, October 18, 2012 at 8:07 a.m.

HAINES CITY - A motion has been filed in the Middle District of Florida bankruptcy court to approve the sale of the former Castcrete plant, 1603 Grove Ave.

The plant is owned by EME Modular Structures Inc., which filed for Chapter 11 bankruptcy protection in June 2008. Both sides have requested an Oct. 31 hearing date.

The perspective buyers are L & A Fusion Holdings LLC from Longwood, which has agreed to purchase the property at 1306 Grove Road for $410,000.

If the sale is approved, $61,034 would be used to settle bankruptcy claims and for lawyer fees. As for the rest of the money, $296,693 is due in property taxes, $15,000 in Haines City code enforcement liens and $37,273 due the auctioneer who sold the property.

L & A Fusion Holding officials could not be reached for comment Wednesday.

Both sides have requested an Oct. 31 hearing date. The closing of the sale would be up to 45 days after court approval.

The property is owned by one of five entities owned by John Stanton, a St Petersburg multi-millionaire who was on the run from December until his arrest in September.

The Tampa Tribune reported at that time he is being held in federal custody without bail on a tax evasion charge. Federal prosecutors say he owes tens of millions of dollars.

The other properties included in the bankruptcy is EarthFirst Technologies Inc., Electric Machinery Enterprises Inc., World Environmental Solutions Company Inc. and Solar Diesel Corporation. Those cases were consolidated in July 2008.

http://www.newschief.com/article/20121018/NEWS/210185039

GLTA
Bob