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Wednesday, May 8, 2019

MARK NOSS ORDERED TO PROVIDE EXTENSIVE LIST OF DOCUMENTS TO INDEPENDENT BANK IN FULL SPECTRUM MANAGEMENT, LLC CHAPTER 7 BANKRUPTCY CASE: “Produce All Documents In Your Possession” Relating To Any Loan, Debt, Payments, Contracts Between Full Spectrum Management, LLC & Grand Traverse Academy, Steven Ingersoll, Smart Schools Management, MDN Development, Rehman Group Et al.

BREAKING NEWS! MARK NOSS SERVED SUBPOENA MAY 7 ON BEHALF OF INDEPENDENT BANK; ORDERED TO PROVIDE “ALL CORRESPONDENCE OR OTHER DOCUMENTS” RELATING TO $925,000 LOAN. NOSS SET FOR “2004 EXAMINATION” MAY 21 IN U. S. BANKRUPTCY COURT.


Mark Noss, formerly the provider of Grand Traverse Academy's  management services via his now-defunct Full Spectrum Management, LLC, (FSM) was ordered yesterday to a May 21, 2019 2004 examination hearing, and to provide extensive documentation relating to a $925,000 line of credit debt. Noss filed a Chapter 7 bankruptcy petition February 19, 2019 on behalf of FSM.

A 2004 examination is a bankruptcy tool that allows an interested party (such as the bankruptcy trustee or a creditor) to ask a witness questions under oath and demand documents that may be relevant to the issues in the bankruptcy case. 

For this reason, it’s very similar to a deposition. 

The procedure is called a 2004 examination because it’s authorized under Rule 2004 of the Federal Rules of Bankruptcy Procedure.

Steven Ingersoll masterminded the off-loading of his obligation to repay Traverse City State Bank (TCSB) in early March 2014 from Smart Schools Management, Inc. (SSM) to Mark Noss, then president of the Grand Traverse Academy’s (GTA) board of directors. 

A contemporaneous string of emails from early March 2014 among Steven Ingersoll, Mark Noss and TCSB's Dan Stahl revealed a deal was struck on March 16, 2014 for Noss to assume the obligation to repay Ingersoll's outstanding debt, days before the GTA board voted to sever ties with Ingersoll. 

Noss wasn’t formally awarded a management contract for the GTA until March 19, 2014. 

He then signed a promissory note on March 20, 2014 as a Managing Member of Full Spectrum Management, LLC, assuming the legal obligation to repay $925,000 left outstanding by Steven Ingersoll's Smart Schools Management, Inc. 

However, on April 17, 2014, Noss paid Steven Ingersoll's Smart Schools Management $17,841.94—the first in a string of secret payments to Ingersoll that were repeatedly denied by Noss, and would not be independently confirmed for nearly two years.



The list of documents requested by Independent Bank is extensive:
For an in-depth examination of Noss, Full Spectrum Management's bankruptcy, and the $925,00 bank loan, click on these links: Part 1, Part 2.

More on this story as it develops.

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