| Stake Bank Files Suit Against Former Owner, Looks For Two Missing Planes |
| Fri, May 3, 2024 |
|
Four pages! That's how long the list of assets is that Stake Bank Enterprises - in receivership - is trying to recover from ousted owner Mike Feinstein.
Stake Bank has now filed suit against its former owner to recover a very long list of items which the receiver says the company owns but does not have possession of.
The list includes top tier luxury items such as a Beech King Airplane valued at 1.5 million dollars as well as another aircraft! The receiver tells the court these are registered in the company's name, but he can't locate them. The list - we are told - includes many items which the receiver deems non-project related.
But one item they are seeking return of - which is VERY project related is the 23 acres of reclaimed land surrounding the original 16 acres which the Bank holds the title for.
Feinstein reclaimed the surrounding 23 acres - but the title for those lands are in his name, not the company's. Well, Stake Bank has filed suit for the return of that most valuable asset as well.
Notably, a forensic audit of the company is currently underway, involving both local and international accountants.
|
