Maine business owners file for Chapter 7
Bankrutpcy News » Chapter 7 Bankruptcy by Kristen MacBethMay 12th, 2011
A business owner from Brunswick, Maine, along with his wife, recently filed for liquidation, after their company went under in January.Conrad and Vivian Thibeault filed in U.S. bankruptcy court in Portland, according to a report. The couple listed debts between $1 million and $10 million, as well as assets in the range of $100,000 to $500,000.The Thibeaults owe money to approximately 50 to 99 creditors, according to The Brunswick Times Record. The former owners of Thibeault Energy list of creditors includes Brunswick Home and Garden, Brunswick Electrical Supply, Sherwin Williams and Brunswick Ford.many of the creditors may not see any money, and despite myriad complaints to the state attorney general, no criminal action will be taken, the news source reported. a portion of the company's regular customers paid for oil during the winter, but never received it due to the bankruptcy.Maine state Sen. Stan Gerzofski, said the couple did not do anything illegal, and since their company went out of business, they shouldn't have taken any funds during that time, according to the news source.
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