It was just announced (about 30 some minutes ago) Judge Landis of Bankruptcy Court in Las Vegas Nevada has decided to move the case to Massachusetts.
http://www.ponzitracker.com/main/2014/5/6/court-suspends-telexfree-bankruptcy-grants-motion-to-transfe.html
Judge cited many reasons, essentially concluding that the ONLY thing tying TelexFree to Nevada is a mailbox and a piece of paper filed with Nevada. EVERYTHING that had something to do with the company, such as HQ, staff, equipment, assets, and so on, are in or near Massachusetts. Even 10 of the top 30 creditors are in Massachusetts.
Judge did not rule on motions such as which parts of temporary restraining order conflicts with the automatic stay (part of bankruptcy) or the US Trustee's request to have a special trustee placed to oversee the bankruptcy rather than TelexFree personnel (such as Runge and MacMillan).
Stay tuned to MLMSkeptic blog, BehindMLM, PonziTracker, and/or PatrickPretty websites for more updates as they become available.
UPDATE: News now confirmed by Boston Globe
http://www.bostonglobe.com/business/2014/05/06/las-vegas-bankruptcy-judge-will-send-telexfree-case-back-massachusetts/KAo3EqqIOmcfFYGGnjioNP/story.html
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http://www.ponzitracker.com/main/2014/5/6/court-suspends-telexfree-bankruptcy-grants-motion-to-transfe.html
Judge cited many reasons, essentially concluding that the ONLY thing tying TelexFree to Nevada is a mailbox and a piece of paper filed with Nevada. EVERYTHING that had something to do with the company, such as HQ, staff, equipment, assets, and so on, are in or near Massachusetts. Even 10 of the top 30 creditors are in Massachusetts.
Judge did not rule on motions such as which parts of temporary restraining order conflicts with the automatic stay (part of bankruptcy) or the US Trustee's request to have a special trustee placed to oversee the bankruptcy rather than TelexFree personnel (such as Runge and MacMillan).
Stay tuned to MLMSkeptic blog, BehindMLM, PonziTracker, and/or PatrickPretty websites for more updates as they become available.
UPDATE: News now confirmed by Boston Globe
http://www.bostonglobe.com/business/2014/05/06/las-vegas-bankruptcy-judge-will-send-telexfree-case-back-massachusetts/KAo3EqqIOmcfFYGGnjioNP/story.html
