posted October 10, 2008
Those seeking to recover assets for creditors in the Luis H. Rivas bankruptcy case have requested over $190,000 in fees for the first four-month period.
Attorney Cara Alday said those involved in chasing down the assets of Rivas, who allegedly bilked investors out of over $31 million, have thus far recovered over $2 million in cash in addition to assets for creditors.
She said two auctions of Rivas-purchased items have brought in over $500,000.
Claims have been filed against former Rivas employees for the return of $580,144 in cash and over $100,000 in assets.
An action was brought against the Knox Forex group for $1,777,000. That group was one of the few to profit from the Rivas "currency trading" operation, it was stated. Authorities said Rivas actually was operating a giant Ponzi scheme.
Ms. Alday's firm of Patrick, Beard, Schulman and Jacoway is asking $124,002 in fees and $6,500 in expenses for the period June 6 to Oct. 7.
Trustee Grey Steed is seeking $43,460 in fees and $4,235 in expenses.
Other requests include:
Rene Barletta of Kendall Investigations - $4,380
Curtis Professional Investigations - $5,393
Kevin Hogan Investigations - $4,492
Ricket and Associates - $300
TJT Investigations- $1,082
Rivas is facing federal fraud charges in Chattanooga and in Spartanburg, S.C.
His trial is set before Judge Curtis Collier on Dec. 15.
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