- 9 -
DTC Suit
DTC was due a liquidating distribution from Omni in the
amount of $496,437.50 (the DTC liquidating distribution), which
it never received.
On or about October 28, 1986, DTC filed suit in Polk County,
Florida (the DTC suit), for payment of the DTC liquidating
distribution, naming, as defendants (1) Omni, and (2) husband in
his individual capacity, as director of Omni, and as trustee for
the shareholders of Omni. A complaint (the complaint) was served
on husband by substitute service on petitioner at the family
residence on October 30, 1986. The complaint alleges, among
other things, that husband had:
surreptitiously removed from the Meritor Account and
placed them in personal accounts or accounts over which
he has control, and has thereby converted to his own
personal use and benefit funds of DTC which were
entrusted to him for safekeeping and distribution.
Mueller has further caused assets of Omni which should
have been used for payment of liquidating dividends to
shareholders to be diverted to himself, his business
associates, or companies which he controls.
On June 1, 1989, the court in the DTC suit entered summary
final judgment in DTC’s favor against Omni and husband in the
amount of $496,437.50. Eventually, DTC recovered $10,259.50 of
the dividend by garnishing an Omni account, leaving a balance due
of $486,178.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011