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.
Updates
September 26, 2010
The petition has now reached two hundred fifty signatures. This reflects a clear consensus that the current management of these bankruptcy proceedings is inadequate.
Reached 250 supporters
September 23, 2010
Reached 100 supporters
September 22, 2010
6 Comments
Are you kidding me? Everyone needs to see this for what it is. Combine the cases and get someone in there who actually cares about the truth.
Finally some people speaking up. Mr. Celia shouldn't get away with this involuntary bankruptcy nonsense. Clear out the committee and start fresh.
Corruption at its finest. Just pure greed from the start.
So obvious what is happening here. They just want the assets for pennies. Stop this sale now.
This whole thing smells rotten. How does an accountant get on the committee when they are clearly involved in the mess? Total conflict of interest.
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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.
Updates
September 26, 2010
The petition has now reached two hundred fifty signatures. This reflects a clear consensus that the current management of these bankruptcy proceedings is inadequate.
Reached 250 supporters
September 23, 2010
Reached 100 supporters
September 22, 2010
6 Comments
Keep digging into this. The shareholders deserve to know why a better offer was rejected. Something is definitely going on behind closed doors.
Are you kidding me? Everyone needs to see this for what it is. Combine the cases and get someone in there who actually cares about the truth.
Finally some people speaking up. Mr. Celia shouldn't get away with this involuntary bankruptcy nonsense. Clear out the committee and start fresh.
Corruption at its finest. Just pure greed from the start.
So obvious what is happening here. They just want the assets for pennies. Stop this sale now.
This whole thing smells rotten. How does an accountant get on the committee when they are clearly involved in the mess? Total conflict of interest.
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Keep digging into this. The shareholders deserve to know why a better offer was rejected. Something is definitely going on behind closed doors.