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Wednesday, August 26, 2020

WHAT'S WRONG WITH A LITTLE FRAUDULENT TRANSFER BETWEEN FRIENDS? Mark Noss Paid Steven Ingersoll Nearly $400,000 For No-Show “Consulting” and “Licensing” Contracts, And Engineered A $54,358 Payment From The Grand Traverse Academy To Ingersoll—After He’d Been Convicted Of Tax Fraud

WHITE GUY JUSTICE: MARK NOSS SCORES EVIDENTIARY HEARING DELAY, STEVEN INGERSOLL GETS DEFAULT JUDGMENT SET ASIDE; Noss hearing now set for September 22 at 1:00p.m.; Ingersoll gets another three weeks to defend his late response to a complaint issued April 30, 2020, a response now due by September 18: Between March 19, 2014-April 1, 2016, Mark Noss paid Steven Ingersoll more than he did Traverse City State Bank.

According to his own records, produced by Noss subsequent to Full Spectrum Management's Adversary Complaint document discovery, Noss shelled out over $452,000 to Steven Ingersoll, and nearly $11,000 to his daughter-in-law, Gretchen Ingersoll.

In comparison, Noss/Full Spectrum paid Traverse City State Bank $331,804 on Ingersoll's delinquent line of credit debt, a legal obligation Noss assumed in March 2014.

There will be no additional updates on this case until these two file their late homework; in the interim, if you want to know what's going on, ask the Record-Eagle.

Those people actually get paid to cover this stuff.

Oh, wait, they haven't...

Thursday, August 20, 2020

CAMERA SHY: Mark Noss Not Ready For His Bankruptcy Court Close-Up; Attorneys Representing Noss Seek Evidentiary Hearing Delay, Maintaining “Witness Credibility” Would Be Inhibited By Video Hearing

It was good enough for Steve Bannon...but not for Mark Noss?

If I'd been drinking a glass of 7UP when I read the “motion to adjourn” filed yesterday, I'd still be cleaning my computer's sticky keyboard!

An evidentiary hearing in the Full Spectrum Management, LLC Chapter 7 bankruptcy case (starring former Grand Traverse Academy board president/disgraced management honcho) Mark Noss is currently scheduled for August 26, 2020 at 10:00 a.m.

However, yesterday, August 19, attorneys representing Noss filed a motion requesting a delay, claiming “it is and has been the position of the Movants that this hearing cannot be adequately and competently performed by a video process. Witness credibility is the essential element of the hearing. Personal observation of responses to questions by the witnesses cannot be duplicated by technical means. In addition, there are numerous potential exhibits that will be introduced and handling of these exhibits is significantly complicated under video processes.” 

On January 27, 2020, Kelly M. Hagan, the Chapter 7 Trustee in the Full Spectrum Management case, filed a Motion for Approval of Compromise, seeking approval of a proposed settlement with Independent Bank.

Noss filed an objection to the settlement on March 9, 2020, over one year after filing a Chapter 7 bankruptcy petition for his defunct Full Spectrum Management, seeking primarily to get out from under nearly $800,000 still owed to Indepdendent Bank. 

A hangover of the Grand Traverse Academy's Steven Ingersoll regime, the massive debt reflects the deal Noss made in 2014 with Ingersoll (and Traverse City State Bank's Dan Stahl) to personally assume repayment of Ingersoll's delinquent $989,825 line of credit debt.

During a June 4, 2020 status conference regarding the Trustee’s motion, Kevin M. Smith, Esq. attorney for the Trustee, Sandra S. Hamilton, attorney for Independent Bank, and Wallace H. Tuttle, Esq., attorney for the Objecting Creditors, appeared at the status conference by telephone. 

At the conclusion of the status conference, the court determined to schedule an evidentiary hearing on the Motion for Approval of Compromise. 

Attorneys representing Noss filed a witness list on August 18, 2020, including:

Trustee Kelly M. Hagan
Any witnesses listed on the Trustee's witness list
Unidentified rebuttal witnesses

But, two days later, they hit the brakes, skittering back to court and seeking to delay the hearing.

So who's this witness with the dysfunctional Zoom performance anxiety?

Could it be this guy?