Seth Freeman, Sr. Managing Director, has been appointed as the Chief Restructuring Officer to DC Solar companies as they file for Ch. 11 bankruptcy. DC Solar Solutions and DC Solar Distributions filed in the Nevada Bankruptcy Court, where a hearing is scheduled to take place on March 4th. Read below for an excerpt on the matter from the Martinez News-Gazette.
DC Solar Solutions and DC Solar Distribution both have filed for reorganization in Nevada Bankruptcy Court.
The Benicia-based companies owned by Martinez residents Jeff and Paulette Carpoff were raided along with the Carpoffs’ home Dec. 18 by the Federal Bureau of Investigation.
The FBI has confirmed the raids, but have released few specifics, citing the ongoing investigation that reportedly involves the Internal Revenue Service. The Department of Justice has been quoted as saying the raid was related to an investigation of investment fraud.
The Carpoffs’ attorney, Armando Gomez, of the Washington D.C. firm of Skadden, Arps, Slate, Meagher and Flom, issued a statement on behalf of his clients after the raid to the Martinez News-Gazette.
“The Carpoff family was surprised and disappointed with the actions taken by the government earlier this week, which appear to relate to an ongoing tax dispute. They are long-time residents and supporters of the Martinez community who believe in our country and all that it stands for,” the statement said.
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