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Lewis B. Freeman, Receiver
Professional Resources System International, Inc.
Case No. CL 00 00067AB
Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida
January 6, 2000
Dear Merchants and Creditors:
I am writing this letter to you since it is the best and fastest way to communicate to all those involved. As you most likely are aware by now, on January 4, 2000, I was appointed by the Circuit Court to be the Receiver for Professional Resources System International, Inc.
I will attempt to answer as many questions as I can in this letter.
1. What is a Receiver?
I am an officer of the court, and it is my duty to gather and protect the assets of the corporation. I am experienced in these matters, having served as receiver for Unique Gems Int'l, Inc. and co-liquidating trustee for the Air Florida Creditors, the Trade Center Building in Miami and various other businesses. My qualifications are as follows: Licensed as an attorney and CPA in the state of Florida and Certified Fraud Examiner.
2. What is going on now?
I am investigating PRSI, locating the Company's assets and transferring the assets to my control. Also, I am investigating what claims, if any, the Company may have against third parties.
3. When can I get my money back? And how much?
It is too early to say how much, if any, and when. It is not possible to determine at this early date, what funds, if any, will be returned.
4. Do I need an attorney?
It is your right to have an attorney. Part of my duties as Receiver is to bring all suits and collect all money. If you wish, you may hire your own attorney.
5. How does the Receiver, and his staff get paid?
We are paid out of assets of the estate, subject to approval of the Court.
6. Should I contact my credit card company for a charge back?
This is an option that you have.
7. What are the assets and liabilities of the estate?
Cash in Bank-------------------$4 million
Furniture, etc.-------------------$50,000
Estimated Claims - Liabilities----$18 million
- What can you do to assist me to recover more money?
Please write or e-mail me with any information that you may have. In the past, some of our best information has been received through anonymous telephone calls from employees, merchants, and individuals.
Future Actions
We are analyzing everyone's participation in the PRSI matter and within 45 to 60 days will be providing a recommendation to the Court as to what further actions should be pursued.
Phil von Kahle, Receiver
c/o Administar Services Group, LLC
P.O. Box 56636
Jacksonville, Florida 32241-6636
Claims sent by messenger address:
Phil von Kahle, Receiver
c/o Administar Services Group, LLC
P.O. Box 56636
Jacksonville, Florida 32241-6636
Receiver's address:
6861 SW 196 Avenue Suite 201-204
Fort Lauderdale, FL 33332
Telephone (954) 252-1560
Fax (954) 252-2791
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