Close

CARPENTER’S ROOFING: US Trustee Objects to Plan & Disclosures

Subscribe or sign up for a free trial.

The United States Trustee for Region 21 submitted objections to the Disclosure Statement and Proposed Plan filed by Carpenter’s Roofing & Sheet Metal, Inc.

The U.S. Trustee points out that the Disclosure Statement should be updated to provide a current status on the Debtor’s issues with the Internal Revenue Service and Florida Department of Revenue.

The U.S. Trustee asserts that the Disclosure Statement should provide an estimate of administrative expenses, including professional fees, net of retainers and amounts paid to date.

The U.S. Trustee questions the validity of the Debtor’s Liquidation Analysis because it assumes that, in a conversion, the Internal Revenue Service and Florida Department of Revenue’s claims would not be challenged as they are in a Chapter 11.

The U.S. Trustee objects to the language regarding U.S. Trustee’s fees contained in Section 2.2 of the plan.

The U.S. Trustee complains that the disclosure statement fails to contain sufficient information and projections relevant to the creditors’ decision to accept or reject the proposed plan.

About Carpenter’s Roofing

Carpenter’s Roofing & Sheet Metal, Inc. is a roofing contractor headquartered in West Palm Beach, Fla. It was founded in 1931 by Howard Carpenter.

Carpenter’s Roofing & Sheet Metal sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-24798) on Nov. 29, 2018. At the time of the filing, Debtor disclosed $1,040,593 in assets and $1,838,038 in liabilities.

The case is assigned to Judge Mindy A. Mora.

The Debtor hired Kelley & Fulton, PL, as its legal counsel, and Rinehimerbaker LLC as its accountant.