dee@linus.UUCP (David E. Emery) (04/05/88)
Posting-Front-End: GNU Emacs 18.47.1 of Sun Aug 2 1987 on faron (berkeley-unix) From Sunday News, Manchester NH, 3 April 1988. (exerpts quoted with permission from this front-page article.) Firms owing $3 million Dishonest, State Says by Tom Fahey Union Leader Staff "The state is alleging that evidence of fraud, dishonesty and gross mismanagement led it to force two Spofford computer companies into receivership and bankruptcy last month. In arguments filed with the U.S. Bankruptcy Court, the state claims that Thomas C. Slack of Keene, over the last four years, ran companies that have left behind at least $3 million in debts. Slack, owner of Scientific Storage Technology Inc. (SST) and Quantus Micro Systems Inc. (QMS) filed for protection under the U.S. Bankruptcy Code after the state Attorney General's Office obtained a court order for a receiver to take control of the mail order computer firms." "(Assistant Attorney General Donald) Feith alleges that beyond merely being a poor businessman, Slack engaged in a pattern of misconduct and illegal activities while running SST and QMS that could leave customers and suppliers holding the bag. The court documents allege Slack engaged in "fraud, dishonesty and gross mismanagement," while operating SST and QMS, because it had no funds available for refunds and were unable to obtain inventory needed to meet orders." "He (Feith) said last week he will press with a civil suit against Slack individually for injuries against consumers who were hurt by the pre-paid sales practice" "On Friday, Manchester Attorney Timothy Smith filed to represent Slack. He (Smith) said the sale of a nearly completed commercial building in the Keene area should help cover the company debts, but would not retire all of them." "He estimated that the building would fetch between $600,000 and $1 million, but that would be depleted by payment of mortgages. Whatever is left would be held by the trustee. "That would be used to satisfy creditor claims and consumer debt. They get priority, even before taxes," Smith said. "But obviously, the consumer debt is a problem. That's what triggered this whole thing." So, if you got ripped-off, you should probably contact the N.H. Consumer Protection Division or the N.H. Attorney General. Both are located in Concord, NH. (I don't have addresses or phone numbers.) Good luck! dave emery (who almost bought a QMS 386 box) emery@mitre-bedford.arpa faron!dee
norstar@tnl.UUCP (Daniel Ray) (04/07/88)
In article <28417@linus.UUCP>, dee@linus.UUCP (David E. Emery) writes: > From Sunday News, Manchester NH, 3 April 1988. (exerpts quoted with > permission from this front-page article.) > > So, if you got ripped-off, you should probably contact the N.H. > Consumer Protection Division or the N.H. Attorney General. Both are > located in Concord, NH. (I don't have addresses or phone numbers.) > Good luck! Thank-you all for the followups! I, too, learned of the demise of Quantus about a day after posting my story. My $3760 (and the machine that went with it!) are lost, I'm sure. I'll be lucky to get pennies on the dollar from the court. Not only have I dealt with a second-rate company, but a ripoff artist as well. Seems that Tom Slack has done this kind of thing before... Anyway, to all you nice but gullible people out there (you know who you are!), watch out, or this could happen to you... * Certainly a learning experience!! * norstar (at The Northern Lights) uunet!uvm-gen!tnl!norstar %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% "We are all spirits of light!"