Friday, March 3, 2023

Express Grain: Coleman Forced into Chapter 7

 This post is reprinted with the permission of The Taxpayers Channel (Greenwood).  It was published yesterday. 

Today, the federal judge presiding over John Coleman's personal bankruptcy case signed an order converting it from Chapter 11 to Chapter 7.

This means that the United States Bankruptcy Trustee will begin liquidating the estate and paying creditors until all the money is exhausted.

But just in the nick of time, Coleman's bankruptcy attorney Craig Geno filed a "final application" for compensation in the amount of $14,995.24. The court approved the payment before signing the order converting the case to Chapter 7. The court had previously approved compensation of $34,181.08, bringing the Geno law firm payments to a total of $49,176.32.

To see Mr. Geno's latest request for compensation, with an itemized invoice, and the court's order approving the final payment, view here:

Geno Final Application for Compensation

Order Approving Compensation to Geno

Of course, Geno's payments for representing Mr. Coleman in his personal bankruptcy case are separate from the much higher compensation the Geno law firm has so far received representing bankrupt Express Grain.

In addition to Geno's fees in this case, the court has also awarded the court-appointed Examiner and his attorneys almost $130,000 in compensation.

Coleman and some of his creditors and the US Trustee have gone back and forth regarding whether Coleman's case should be converted to Chapter 7. In the final analysis, the trustee advocated it, and Coleman opposed it. For more details on this squabble, see our original reporting here: Bankrupt Express Grain President John Coleman asks for continuance in his federal criminal case

The court's order filed today moving the case to Chapter 7 may be seen here: Order Converting Case to Chapter 7

As of now, the Chapter 7 Trustee, William Fava, will begin paying whatever claims can be paid out of the approximately $249,000 left in the bankruptcy estate. Somewhere around $90 million in claims have been filed against Coleman, so the remaining cash won't go far at all.

But already, the court has signed an order directing Mr. Coleman to file a report disclosing his monthly income, which is now required under Chapter 7. Coleman has 14 days to comply with the order. See the court's order here: Notice of Deficiency

With today's actions in court, Coleman's personal bankruptcy case is rapidly approaching the end.

But as for the Express Grain bankruptcy, there are still miles to go before we sleep.


Anonymous said...

I believe that there is more than a grain of truth here.

Anonymous said...

a $249,000 crumb-

Anonymous said...

I'm starting to think there's no more there there for a Chapter 11 to get help him get right!

Anonymous said...

I wonder if Benny's fingerprints are on this scandal? With the amount of money (grease) involved methinks that it is highly likely.

Anonymous said...

Only in the 'Sip would someone think it's worth trying to fly something like the Express Grain 'Meltdown in the Delta' was caused by a black elected official at JJ...

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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