According to the Minneapolis Star Tribune, plaintiffs LG and Zenith are attempting to sue Polaroid as part of a patent dispute involving flat-screen televisions. Polaroid is owned by Petters Group Worldwide, whose founder and former CEO, Tom Petters, has been indicted on 20 counts of fraud, conspiracy, money-laundering and other charges.
Judge Ann Montgomery denied the request from LG, Zenith and a third defendant, the hedge fund Acorn Capital Group, to lift a court-mandated freeze on civil actions related to Petters. The judge, according to the paper, determined that it is too early in the investigation to lift the freeze.
If Judge Anne Montgomery thinks it is "to early" for lifting the "freeze" when does the good judge figure it will be to late to lift the freeze allowing creditors suits to proceed? I wonder when the receiver and his entourage, ("Kelley & Company"), will actually submit a receiver’s report to the Court. They have already submitted a $650,000.00 bill to the Court asking to be paid for whatever it is they have been doing these past few months.
I hope these Kelley & Company don't spend to much time and money finding out what most people already know, that Tom Petter's Byzentine Business Empire is made up of nothing more than a series of corporations that were used as very expensive props and the employees of these various corporations were nothing more than actors in his long running Ponzi Scheme. I think that both "The Sting" and “Matchbookman" should be required viewing for anyone involved in the Tom Petter's confidence scheme. Including Judge Montgomery and Doug Kelley.
I would be very surprised if Mr. Kelley and his crew of highly paid investigators discover any Petter's company that is making money. Anyone here know of a single Petter's company which they can say is making money?