Biased creditor committee

To The Honorable Chief Judge Stuart Bernstein, the Honorable Judge Lamar Davis,U.S. Trustee Elizabeth Gasparini, U.S. Trustee Joel Pasche, Mr. Kenneth Silverman and Mr. Lloyd Whitaker.

We the undersigned shareholders of SpongeTech Delivery Systems humbly but strongly request that the proposed sale of Dicon assets be denied. It has come to our attention that Mr. Celia's accountant is on the creditors committee. We also believe that this was achieved through a criminal act. We also believe that there is a huge conflict of interest regarding this issue. The creditors committee CANNOT be unbiased when this is the case. The creditors committee has already turned down a better offer than Mr. Celia provided. We also believe Mr. Celia orchestrated Dicons involuntary bankruptcy.

We also humbly request that The Honorable Chief Judge Stuart Bernstein and The Honorable Judge Lamar Davis work together to combine the SpongeTech and Dicon bankruptcy's together. Mr. Whitaker the trustee for Dicon has a ZERO track record for bringing a company out of bankruptcy. Mr. Silverman has at least shown an interest in bringing SpongeTech out of Chapter 11.

By combining the bankruptcies and denying the sale of Dicon Mr. Silverman can better satisfy all the creditors. The companies SpongeTech and Dicon along with the shareholders and anyone else concerned. Surely this is better than only SOME creditors being paid with everyone else taking a complete loss.

 

 

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