New court filings from Olympus Pools owner asks court for permission to use cash, challenges lien by one creditor

Better Call Behnken

(WFLA/Better Call Behnken photo)

TAMPA, Fla. (WFLA) — In new court filings related to their bankruptcy case, the owner of embattled Olympus Pools, James Staten, and his wife Alexis Staten, asked the court to reexamine the “extent, validity and priority” of a lien placed on their property by one of the Statens creditors. 

The business shut down in July following months of investigation by Better Call Behnken.

The business also voluntarily relinquished its license, but said the move came amid pressure from state regulators.

The list of their creditors includes the Florida Business Development Corporation, Revenue Recovery Services, American Express and SCP Distributors, LLC, the country’s largest pool supply company, among others. 

A new filing submitted to the court today, Oct. 20, requests the court to revisit the amounts owed to SCP Distributors through liens on the Statens finances and property based on the grounds that with so many creditors, the amount collected by SCP may affect the security interest and other claims to the remaining debts owed, and the debt-holders.

The owner of Olympus Pools, James Staten, and his wife Alexis, filed for Chapter 11 personal bankruptcy on Oct. 6.

In the court proceedings that followed, a monthly budget of roughly $11,000 was allowed for the family to pay their debts, pay their monthly bills and provide for their family. 

Another filing submitted today requests that the court allow for reorganization of the family’s financial and business assets, and allow for disposition of some properties that they own, to help provide for their five children.

The filing said the Statens are requesting that the Clerk of Court “maintain the list of the 20 largest unsecured claims filed” to create an Order Limiting Notice to “minimize disruption” and allow the family to “preserve operating expenses.”

A third filing submitted today asked the court for authorization to use cash to pay their bills and preserve the value of their estate while completing a reorganization of their assets. 

The motion for use of cash will be explored at an Oct. 26 hearing in a Middle District of Florida courtroom.

The request to use cash for paying debts is based on the Statens request to rely upon the budget previously set by the bankruptcy court for roughly $11,000 per month, to cover expenses such as groceries, school fees, utility costs, and housing costs, among others.

The $11,000 budget was less than the Statens wanted, which was originally proposed at over $17,000 per month.

The three new filings submitted to the court come just a week after Florida Attorney General Ashley Moody took action against Olympus Pools’ owner for leaving its jobs incomplete while taking upfront payments from customers.

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