- Report: #523200
Complaint Review: Chris Hanson High Profile Realty - Glendale Arizona
Reported By:
WOW CHRIS IS A LOSER!!! -
Glendale, Arizona, U.S.A.
Submitted:
Updated:
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Author Confirmed
Why?
Chris Hanson High Profile Realty
Glendale Glendale, 85308 Arizona, United States of America
Phone:
6234869050
Web:
www.highprofilerealty.com
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Chris Hanson High Profile Realty Chris Hanson High Profile Realty Thief Liar Glendale, Arizona
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Maybe Chris Hanson should do his homework on BK!!!! Here is an email where he claims that everything is fine at High Profile Realty and he is filing Chapter 11 so there is no reason to worry!!! Yeah Right!! A Chapter 11 plan is confirmed only upon the affirmative votes of the creditors, who are divided by the plan into classes based on the characteristics of their claims, and whose votes are a function of the amount of their claim against the debtor. With the number of agents owed money totaling 100k+by Chris Hanson plus the additional creditors like Countrywide 1.1 million, Leasing Company 24k, countless credit cards 100k+ Chris Hanson is crazy to think his creditors will go for the Chapter 11!!! Read the explanation below along with the email sent by Chris Hanson to his agents today!!! This guy is so delusional it is pathetic!!! WOWOWOWOW!!! Agents beware - just because Chris Hanson thinks he is going to walk away from this and run High Profile Realty like nothing ever happened does not mean that is true!!!!!!
Chapter 11
Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt.
Individuals usually file Chapter 7 or Chapter 13 rather than Chapter 11.
The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. The debtor in possession is a fiduciary for the creditors. If the debtor's management is ineffective or less than honest, a trustee may be appointed.
A creditors committee is usually appointed by the U.S.Trustee from among the 20 largest, unsecured creditors who are not insiders. The committee represents all of the creditors in providing oversight for the debtor's operations and a body with whom the debtor can negotiate an acceptable plan of reorganization.
A Chapter 11 plan is confirmed only upon the affirmative votes of the creditors, who are divided by the plan into classes based on the characteristics of their claims, and whose votes are a function of the amount of their claim against the debtor.
If the debtor can't get the votes to confirm a plan, the debtor can attempt to "cram down" a plan on creditors and get the plan confirmed despite creditor opposition, by meeting certain statutory tests.
Chapter 11 is probably the most flexible of all the chapters, and as such, it is the hardest to generalize about. Its flexibility makes it generally more expensive to the debtor. The rate of successful Chapter 11 reorganizations is depressingly low, sometimes estimated at 10% or less.
Individuals usually reorganize under Chapter 13, which offers a streamlined plan at modest cost that allows the individual to keep possession of his assets, catch up on secured debt, and discharge unsecured debt at the end of the plan.
Dear High Profile Agents,
I would like to take this time to apologize for the barrage of recruiting calls and emails you may have received in the last couple days from other companies. They are simply trying to take advantage of misguided media attempt to discredit myself, and High Profile. One of the more unscrupulous competitors has gone as far as trying to convince agents that we have a Class action suit brought against us. I assure you this is not the case, there are no pending class action suits , nor will there be since we have reorganized through a Chapter 11, and cannot be sued during this reorganization. This means we are staying in business, and working on a repayment plan with past creditors. It does not mean we are going out of business, or shutting down such as a ch 7 bankruptcy like many other real estate companies are doing, or have done.
Our cutting of expenses, and reorganizing has allowed us to be turning a profit which is required in a Ch 11 in order to be approved to repay past creditors. Our goal is to remain in business, continue turning things around, and provide even better services for our agents, and customers. We will continue paying all of your commissions directly from escrow. I welcome, any comments, or questions you may have, and again, would like to thank you for your continued support.
Sincerely,
Chris Hanson, Designated Broker
High Profile Realty
18185 N. 83rd Ave, Suite D202
Glendale, AZ. 85308
Chapter 11
Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt.
Individuals usually file Chapter 7 or Chapter 13 rather than Chapter 11.
The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. The debtor in possession is a fiduciary for the creditors. If the debtor's management is ineffective or less than honest, a trustee may be appointed.
A creditors committee is usually appointed by the U.S.Trustee from among the 20 largest, unsecured creditors who are not insiders. The committee represents all of the creditors in providing oversight for the debtor's operations and a body with whom the debtor can negotiate an acceptable plan of reorganization.
A Chapter 11 plan is confirmed only upon the affirmative votes of the creditors, who are divided by the plan into classes based on the characteristics of their claims, and whose votes are a function of the amount of their claim against the debtor.
If the debtor can't get the votes to confirm a plan, the debtor can attempt to "cram down" a plan on creditors and get the plan confirmed despite creditor opposition, by meeting certain statutory tests.
Chapter 11 is probably the most flexible of all the chapters, and as such, it is the hardest to generalize about. Its flexibility makes it generally more expensive to the debtor. The rate of successful Chapter 11 reorganizations is depressingly low, sometimes estimated at 10% or less.
Individuals usually reorganize under Chapter 13, which offers a streamlined plan at modest cost that allows the individual to keep possession of his assets, catch up on secured debt, and discharge unsecured debt at the end of the plan.
Dear High Profile Agents,
I would like to take this time to apologize for the barrage of recruiting calls and emails you may have received in the last couple days from other companies. They are simply trying to take advantage of misguided media attempt to discredit myself, and High Profile. One of the more unscrupulous competitors has gone as far as trying to convince agents that we have a Class action suit brought against us. I assure you this is not the case, there are no pending class action suits , nor will there be since we have reorganized through a Chapter 11, and cannot be sued during this reorganization. This means we are staying in business, and working on a repayment plan with past creditors. It does not mean we are going out of business, or shutting down such as a ch 7 bankruptcy like many other real estate companies are doing, or have done.
Our cutting of expenses, and reorganizing has allowed us to be turning a profit which is required in a Ch 11 in order to be approved to repay past creditors. Our goal is to remain in business, continue turning things around, and provide even better services for our agents, and customers. We will continue paying all of your commissions directly from escrow. I welcome, any comments, or questions you may have, and again, would like to thank you for your continued support.
Sincerely,
Chris Hanson, Designated Broker
High Profile Realty
18185 N. 83rd Ave, Suite D202
Glendale, AZ. 85308
