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Replies to post #70808 on Innerscope Hearing Technologies Inc (INND)
03/03/25 11:50 AM
I. INTRODUCTION
Poppy Bank joins the United States Trustee (“UST”) in its request for dismissal of
Debtors’ Chapter 11 Case based on Debtor’s failure to obtain adequate insurance. Additional
causes also warrant dismissal of Debtor’s case, including unauthorized use of cash collateral
combined with gross mismanagement, as well as diminution of the value of the estate. Debtor is
using cash collateral but has not obtained court permission to do so and has no plan to obtain such
permission until March 27, 2025 at the earliest. Debtor’s recent unauthorized expenditures were
for items that do not appear necessary for continued business operations, with at least one
payment made directly to an insider. Debtor has demonstrated a pattern of mismanaging its
affairs in a way that unfairly benefits its managing partners at the expense of Debtor’s creditors as
well as Debtor’s solvency. Additionally, the accumulation of penalties and interest on delinquent
taxes and mortgage installments are eroding the estate. For these reasons Poppy respectfully joins
the UST in its request to dismiss Debtor’s case.
InnerScope is not an independent third-party entity. It is also controlled by the Moores. By allowing InnerScope to continue in possession without paying rent, Debtor effectively subsidized this other Moore-controlled company. InnerScope now owes Debtor $540,000 in back-rent. If Debtor had addressed InnerScope’s failure to pay rent immediately, Debtor may have remained solvent. Debtor’s mismanagement, through the Moores, demonstrates its inability or unwillingness to rehabilitate Debtor’s business.
03/03/25 4:24 PM
03/06/25 12:19 PM
Wednesday, March 05, 2025
40 audio Audio Docket Entry Wed 03/05 4:54 PM
PDF with attached Audio File. Copies of recordings on the Docket are NOT the official record of any proceeding, may not be cited as the record, and are provided as a convenience to the public. Instructions for ordering the official record may be found on the Court's website. Court Date & Time [03/05/2025 02:59:00 PM]. File Size [ 4718 KB ]. Run Time [ 00:13:17 ]. (auto)
Tuesday, March 04, 2025
39 related Certificate/Proof of Service - Including Amendments Wed 03/05 9:25 AM
Certificate/Proof of Service of33 Motion/Application to Employ Stephan M Brown as Attorney(s) [TBG-1],34 Declaration (dpas)
38 related Certificate/Proof of Service - Including Amendments Wed 03/05 9:23 AM
Certificate/Proof of Service of35 Motion/Application to Use Cash Collateral [TBG-2],36 Notice of Hearing,37 Declaration (dpas)
37 related Declaration Wed 03/05 9:22 AM
Declaration of Mark Moore in support of35 Motion/Application to Use Cash Collateral [TBG-2] (dpas)
36 related Notice of Hearing Wed 03/05 9:20 AM
Notice of Hearing Re:35 Motion/Application to Use Cash Collateral [TBG-2] to be held on 3/27/2025 at 10:30 AM at Sacramento Courtroom 33, Department E. (dpas)
35 motion Cash Collateral (Use) - Including Amended Motion Wed 03/05 9:19 AM
Motion/Application to Use Cash Collateral [TBG-2] Filed by Debtor Moore Holdings, LLC (dpas)
34 related Declaration Tue 03/04 3:56 PM
Declaration of Stephan M Brown in support of33 Motion/Application to Employ Stephan M Brown as Attorney(s) [TBG-1] (dpas)
33 motion Employ - Including Amended Motion Tue 03/04 3:55 PM
Motion/Application to Employ Stephan M Brown as Attorney(s) [TBG-1] Filed by Debtor Moore Holdings, LLC (dpas)
AI
