" Subject: Re: SEC Response - File HO::~00104343~::HO [ ref:00D3JxQy.5003CWXfb:ref ]
> To: "Help <help@sec.gov>" <help@sec.gov> > Date: Sunday, January 30, 2011, 1:13 PM
We have all but given up in our 2 year long attempt to find
any regulatory influence to help the owners of Aventine Renewable Energy with the clear theft of their property.
After having lost 30 years of saving and investment and
knowing the 40 years we paid into Social Security are gone
we have struggled to understand why so many retirees who
have worked a lifetime to contribute and then retire are
being treated, by our Legal System and Representative
government as an inconvenience to the priorities of Wall
Street and Hedge Funds, specifically.
We are hard working educated and responsible members of
society who believe in justice and honesty but have learned
a lesson which will leave us devastated as seniors. The
System is rigged and has no time or interest in those who
trusted their investments would not be taken by Bankruptcy
FRAUD.
From your reply-
"While it is unfortunate that shareholders did not receive
any distribution under the confirmed bankruptcy plan, the
statutory scheme under the Bankruptcy Code prioritizes the
rights of creditors to those of shareholders. The
Bankruptcy Court determined that the Debtor did not have
sufficient liquidation value to pay the full amount of
creditor claims. Accordingly, under what is known as
the "absolute priority rule", the Debtor is prohibited by
statute from paying shareholders any amount for the value of
their shares.
During the Aventine Bankruptcy Case, the SEC staff heard
from several investors and referred allegations of
bankruptcy fraud, as well as the alleged conflict of
interests of certain professionals retained by the Debtor,
to the Office of the US Trustee, which is the bankruptcy arm
of the US Justice Department. The US Trustee approves
the retention of all professionals retained by a debtor in a
bankruptcy case and also considers allegations of bankruptcy
fraud for further prosecution. The US Trustee is further
empowered under the Bankruptcy Code to appoint shareholder
committees in bankruptcy cases."
We know without qualification, if, IF, anyone had taken a
LOOK at the valuations and premise for filing in the first
> place, the ENTIRE Bankruptcy sham would have been rejected.
The PROCESS continued without investigation into the data
used to apply for Bankruptcy protection by an organized team
of officers of OUR courts. It is amazing to hear implicitly,
you are too late, as though there is solace in a time
component to a victim who has cried for help but has been
told you didn't ask for help properly in the correct
manner.
We deserve better than how we were treated in NOT being
"unfortunate" but in believing in OUR system of
representation.
We again, THANK You, truly, for taking the time to respond
but know we have no reason or understanding for the actions
taken as we are asked to accept the loss of property and our
retirement at the hands of a criminal undertaking, without
any representation in a process and a system gone bad.
Sincerely,
Bill & Sheila Toomey
Shareholders Aventine Renewable Energy
On Thu, 1/27/11, "Help" <help@sec.gov>
help@sec.gov
ubject: SEC Response - File HO::~00104343~::HO
[ ref:00D3JxQy.5003CWXfb:ref ]
To: "talesnavigator@yahoo.com"
> <talesnavigator@yahoo.com>,
> "toomey6@aol.com"
;toomey6@aol.com>
Date: Thursday, January 27, 2011, 1:39 PM
Dear Mr. Toomey:
Thank you for contacting the U.S. Securities and
Exchange
Commission.
Sheila M. Toomey
William J. Toomey
Re:
> > Dear Mr. and Mrs. Toomey,
> >
> > This is to confirm receipt of your January 11, 2011
> > correspondence to Securities and Exchange Commission
> (SEC)
> > Chairman Mary L. Schapiro, the SEC's Offices of
> Enforcement
> > and Inspector General and others regarding Aventine
> > Renewable Energy bankruptcy case. Your email was
> > forwarded to the Office of Investor Education and
> Advocacy
> > (OIEA) for response. We note that we have
> previously
> > responded to your complaint and that you have been
> in
> > contact with the US Trustee regarding your
> concerns.
> > We are providing the following additional information
> which
> > we thought may be helpful.
> >
> > As you may be aware, a plan of reorganization was
> confirmed by the United States Bankruptcy Court for the District
> of
> > Delaware on February 24, 2010 and the Bankruptcy
> Court
> > recently entered an order on December 20, 2010 closing
> the
> > Chapter 11 case. Accordingly, the Bankruptcy Court
> > will not entertain a request for the appointment of a
> > shareholder committee at this juncture.
> >
> > While it is unfortunate that shareholders did not
> receive
> > any distribution under the confirmed bankruptcy plan,
> the
> > statutory scheme under the Bankruptcy Code prioritizes
> the
> > rights of creditors to those of shareholders. The
> > Bankruptcy Court determined that the Debtor did not
> have
> > sufficient liquidation value to pay the full amount
> of
> > creditor claims. Accordingly, under what is known
> as
> > the "absolute priority rule", the Debtor is prohibited
> by
> > statute from paying shareholders any amount for the
> value of
> > their shares.
> >
> > During the Aventine bankruptcy case, the SEC staff
> heard
> > from several investors and referred allegations of
> > bankruptcy fraud, as well as the alleged conflict of
> > interests of certain professionals retained by the
> Debtor,
> > to the Office of the US Trustee, which is the
> bankruptcy arm
> > of the US Justice Department. The US Trustee
> approves
> > the retention of all professionals retained by a
> debtor in a
> > bankruptcy case and also considers allegations of
> bankruptcy
> > fraud for further prosecution. The US Trustee is
> further
> > empowered under the Bankruptcy Code to appoint
> shareholder
> > committees in bankruptcy cases.
> >
> > If you have specific allegations of bankruptcy fraud,
> we
> > suggest you again contact the Office of the US Trustee
> in
> > Delaware. The address is 844 King Street
> Wilmington,
> > DE 19801 and the US Trustee in Delaware may be reached
> via
> > telephone at 302-573-6491.
> >
> > If you have any questions for the SEC, please contact
> > Christopher Wilson, an attorney on my staff, at (202)
> > 551-6344 or wilsonch@sec.gov.
> >
> > > >
> > Sincerely,
> > Gloria
> > Smith-Hill
> >
> > > >
> > Branch
> > Chief
> >
> > File Attachment:
> > Correspondent Name: Mr. William Toomey
> > Create Date: 1/11/2011
> > Origin: Email
> > File #: HO::~00104343~::HO
> > Description:
> > -----Original Message-----
> > From: TALES McKinley [mailto:talesnavigator@yahoo.com]
> >
> > Sent: Tuesday, January 11, 2011 8:07 AM
> > To: AskDOJ@usdoj.gov;
> > oig.hotline@usdoj.gov;
> > OIG; ENFORCEMENT;
> > CHAIRMANOFFICE
> > Cc: Crystal@CrystalCox.com
> > Subject: Bankruptcy Fraud requiring help after closed
> > shareholder
> > updates of proceedings
> >
> > April 22, 2010
> > MORGAN STANLEY
> > Metalmark now CITIBANK
> > Whitebox
> > Wachovia
> > Bank of America
> > We have been shareholders, patient ones, with family
> > members of AVENTINE
> > RENEWABLE ENERGY since early 2007. In January of this
> year,
> > we, Bill and
> > Sheila Toomey, sat in attendance during a Bankruptcy,
> in
> > Wilmington, DE,
> > hearing, where our objections were entered into the
> dockets
> > record. We
> > are not lawyers and our attendance was with sincere
> respect
> > to the
> > court, for entering our objections. We learned, quite
> > quickly, the
> > procedural format of lawyers takes precedence over
> the
> > actual evaluation
> > of data impacting this entire Bankruptcy, in
> progress.
> > With the manner of how this has developed, we have
> the
> > following
> > concerns and are frustrated with the procedural
> process
> > inability to
> > resolve these concerns. We are and have been
> shareholders,
> > yet, our
> > rights, as shareholders to VOTE on the initial
> bankruptcy
> > filing, the
> > selection of the ever changing senior management and
> the
> > Board of
> > Directors have ignored and excluded our input, as
> members
> > of majority
> > shareholders . We have been consistently superseded by
> a
> > creditor group
> > who had directed the activities of the senior
> management
> > and Board of
> > Directors prior to the Bankruptcy filing, and continue
> to
> > do so, as
> > indicated by previously employed senior managers. We,
> the
> > shareholders,
> > have not been considered, informed or included in the
> > decision making
> > process for over two years, well before the
> Bankruptcy
> > filing. From our
> > perspective, we had been passively patient not even
> > considering how our
> > management and Board of Directors were taking
> direction
> > from the
> > company financial advisor, and creditor, while
> excluding
> > shareholders.
> > It is this obvious CONFLICT(s) of Interest(s) which
> causes
> > us to implore
> > your support for the overdue formation of a
> Shareholders
> > Committee.
> > Further, we would request an understanding, with
> > explanation, why a
> > creditor group and financial advisor selected and
> voted
> > successfully a
> > POR, Plan of Recovery, which was overwhelmingly
> rejected,
> > by over 70% of
> > the actual shareholder owners. Those who won the vote
> for
> > the exclusive
> > POR, submitted, were nothing more than bondholders
> who
> > could, and can,
> > be paid, as promised through the cash flow of the
> business.
> > Of course,
> > they would like to take ownership of the company for
> > serviceable debt,
> > but why should a creditor and financial advisor be
> placed
> > into a
> > position to take the company from the shareholder
> owners,
> > without the
> > shareholders choice to pay the debt, as promised ?
> > Finally, we the shareholders, having been excluded
> and
> > ignored
> > throughout this procedural process, we find
> completely
> > unnecessary,
> > humbly request, your support of the shareholders right
> to
> > call an
> > immediate shareholders meeting, in April 2010, to
> > deliberate in these
> > details for the benefit, inclusion and future success
> of
> > employees,
> > shareholders, partners and customers of Aventine
> Renewable
> > Energy. We
> > may not be lawyers, but we know what paying debt and
> > managing a business
> > requires. Given the opportunity, we will ensure the
> bills
> > are paid and
> > business responsibilities are conducted as the
> principles
> > of business
> > ethics expect. We believe the actual bankruptcy
> filing
> > should be
> > rejected, dismissed, because the rationale and
> premise, for
> > filing, have
> > been proven to not satisfy or meet the need for
> Bankruptcy
> > protection.
> > Your consideration and approval of these requests are
> in
> > line with the
> > respect shareholders deserve for their investment in
> this
> > company and in
> > how shareholder rights are understood by the majority
> of
> > existing,
> > shareholder owners.
> > Thank you for your time and sincere consideration of
> our
> > humble
> > requests.
> > May God guide and Bless you.
> > Sincerely,
> > William J Toomey and Sheila M Toomey
> > Shareholders Aventine Renewable Energy "
More on this SEC Complaint, Bankruptcy Case Coming Soon..
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