Creditors file involuntary bankruptcy motion

Three creditors of Stone Property Management have filed a motion with the bankruptcy court asking that Stone be placed in an involuntary bankruptcy.  The creditors hope to use the powers of the bankruptcy court to “clawback” more than $200,000 in payments to the IRS for tax liens.  They also want the court to review mortgages against properties owned by the principals.  Stone is the subject of a criminal investigation regarding money in reserve accounts that have disappeared.

For more details, you can read the entire story here – “Forced bankruptcy sought for Waterville Valley property management firm.”