Friday, November 19, 2021

Lawyered Up?

One interesting little fact popped out in the Express Grain bankruptcy.

Dr. Michael Coleman and his son John own Express Grain Terminals, Express Grain Processing, and Express Biodiesel. Express Grain is a grain elevator in Greenwood. The company either sells the crops is from farmers or converts it to biodiesel. 

Express Grain owed $71 million to UMB Bank. The bank sued in September to force the companies into receivership. The Colemans and the Express Grain companies filed bankruptcy the next day.  Earlier post

The implosion of the grain elevator operation threatens hundreds of Delta farmers, banks, and even the Greenwood public utility with severe financial losses. 

 

The $71 million debt owed to UMB Bank included a $37 million revolving line of credit. The Colemans apparently hit the line of credit pretty hard. The debtors had to file a statement of financial affairs with the bankruptcy court. The statement included a list of all transfers made out of their accounts during the 90 days prior to the bankruptcy filing.

The statement includes a $50,000 payment to the Collette & Collette law firm on September 24, 2021. John Collette is one of the premier criminal defense lawyers in Mississippi.

UMB filed its lawsuit on September 28. The lawsuit accused the Colemans of committing fraud. 

Ironically,  the victimized farmers accused the bank committing fraud as well. A group of farmers sued UMB Bank last week, accusing the bank of stealing the harvests they delivered to Express Grain.  The complaint alleges the bank knew the true condition of the company and propped it up throughout 2021 until the farmers deliver their harvests. Once delivered, the bank allegedly pulled the rug out from under the company and seized their crops without paying for them. Earlier post.

Hmmmmm...... why would the Colemans hire a criminal defense lawyer from Jackson?


18 comments:

Anonymous said...

Maybe they'll get lucky and get the same chicken$twit prosecutor that the Mad Timber lawyer and lobbyist got. Hell, they are probably all friends.

Anonymous said...

Boy Scout motto-Be prepared.

Billable Hours Accumulate Quickly said...

It's going to take a lot more than $50,000 for "Elite Representation For The Wrongfully Accused" if this goes on very long.

Anonymous said...

12:56 I can assure you most if not all of that $50,000.00 retainer fee has been “spent”. Everything from now own quite literally could be handled with “cash”.

Anonymous said...

The 90 day period is the preference period

Any money paid to anyone for 90 days prior to filing is subject to being clawed back by the trustee…..

If collette has his solid gold glasses on then he is flush….if the glasses are gone he’s hocked them until the next crook needs a good lawyer



John Pittman Hey said...

Wonder if that $50,000 check to Collette bounced. The $33,000 check to their bankruptcy lawyer Craig Geno did.

Anonymous said...

FYI, the Bank did not seize any grain.

Kingfish said...

What part of alleged or accused do you not get?

Anonymous said...

There was some mention of Madisontimber. It is interesting to note that Lamar Adams of Madison timber is from Indianola Ms. which is only 30 miles from Greenwood where this fraud occurred.

Anonymous said...

Queue up the Dukes of Hazzard theme song for these Delta boys.

Anonymous said...

Biggest Fraud in the Delta since poppa convinced them that the Feds was going to install pumps when they bought his land.

Diddywahdiddy said...

Diddywahdiddy says,
I admit that I am not the smartest when it comes to the business of row crop farming...but I see at least six landowners who are within a short ATV drive from what I own in Leflore/Tallahatchie County. The six landowners were issued checks totaling over $1.8 million. Did these checks bounce? Did they receive their payment for their soybeans/corn stored at Express Grain? Pardon my ignorance, but that is a lot of money if they didn't get paid...and that's only six from a list of many. Thanks in advance for "the answer".
Best,
DWD

Anonymous said...

Note that the BioDiesel Farm Welfare money kicked back in during January. The Kitchen Grease/Yellow Gold and Bean Double Subsidy money is oh so sweet. And the "financial instruments" and tax dodges on that are, too.

More than one company mentioned in more than one thread on this site has gotten very wealthy off of Uncle Chuck Grassley.

And when eye doctors start swapping corn and beans and their offspring start drinking with the banksters and the lawyers and Chicago and Wall Street types, well,.. things sound great! Till the tab is due.

Where's Waldo? said...

"It is interesting to note that Lamar Adams of Madison timber is from Indianola Ms. which is only 30 miles from Greenwood where this fraud occurred."

What the hell is 'interesting' about that? Both town are within a stone's throw of Parchman too. So what?

Anonymous said...

Attn 5:24. I see that the federal prison service now allows on line access. Happy thanksgiving, Lamar!!!! Also, try to calm down,you don’t want your blood pressure escalating.

Anonymous said...

1;36 makes a very good point.
desperate people to very desperate things.
by definition bankruptcy is nothing but legalized fraud where the creditor gets to screw everyone he owes.
much the same principal in lobbying , which is nothing but legalized payoffs to political figures.
the fraud perpetrated by certain for and not for profit corporations in this state is mind numbing.
and if and when they ever get caught its always the same excuse.....they say....'hey , this was nothing but a business deal gone bad"
bernie ebbers, mr ridgeway, chris epps and his little band of marauders, lamar adams and his sales staff at the big law firms, the nancy new family and her band of wrestlers all come to mind....
feel free to add to my list....................

Anonymous said...

1;36 makes a very good point.
desperate people to very desperate things.
by definition bankruptcy is nothing but legalized fraud where the creditor gets to screw everyone he owes.
much the same principal in lobbying , which is nothing but legalized payoffs to political figures.
the fraud perpetrated by certain for and not for profit corporations in this state is mind numbing.
and if and when they ever get caught its always the same excuse.....they say....'hey , this was nothing but a business deal gone bad"
bernie ebbers, mr ridgeway, chris epps and his little band of marauders, lamar adams and his sales staff at the big law firms, the nancy new family and her band of wrestlers all come to mind....
feel free to add to my list....................

Anonymous said...

Attn 9:16. Mississippi gets a lot of bad press. I am glad you pointed out several of the things Mississippi is really good at


Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.