Kokua Line
Kokua Line
Question: We just got a notice from U.S. Bankruptcy Court on the Jimmy's Travel case. It says there is a cash balance on hand of $2,471. Is that all that remains of the $200,000 bond that was posted? Good news for travel
firm creditorsAnswer: The notice has nothing to do with a $200,000 bond that was posted by Jimmy Lee, who listed more than $742,000 in unsecured claims from about 2,500 people when his travel company filed for Chapter 7 corporate bankruptcy liquidation last year.
That is good news because there will be more than $200,000 that creditors like you should be able to tap into sometime in the future.
The letter you received was to inform creditors that a Chapter 7 final report had been filed by Mary Lou Woo, bankruptcy trustee for Jimmy's Travel.
"Essentially, there are no monies in the bankruptcy estate," she said. "The case is administratively insolvent, so there are no monies available for unsecured creditors."
A hearing on her report is set for 9:30 a.m. May 19 before U.S. Bankruptcy Judge Lloyd King.
Separately, $200,000 will be placed in an interest-bearing account that's already been opened, Lee's attorney, Brian Pang, said yesterday. "There's going to be an order of the court regarding how it will be distributed. It should be distributed on a pro rata basis."
Some background, as explained by Pang: Hawaii National Bank issued a bond based on $200,000 in cash collateral deposited by Lee. Once the bank pays out on the bond, it will be able to gain access to the $200,000, which currently is being held under a search warrant that had been issued by a judge at the request of the prosecutor's office, Pang said.
"The short answer is that yes, there is going to be $200,000 based on that bond, but (Woo) is correct in that there is no money in the bankruptcy," he said.
In the meantime, Lee, who pleaded guilty last October to first-degree theft, was allowed to move to Las Vegas, pending his sentencing later this month.
He has a job and already made two restitution payments of $1,000 each, Pang said. That money and future payments will go into the same account as the $200,000.
Q: I am a woman and I want to join the Lions Club. What is the response in a nation where equal opportunities is the law?
A: Call the Hawaii Lions District 50 office at 524-7025.
You have to be invited to join, but gender is not a consideration and hasn't been for years, said District 50 secretary Ken Kau.
He suggests you talk to him first, so he can figure out which club might best fit you. Membership isn't determined necessarily by where you live, but might be by where you work or perhaps where your friends are, Kau said.
The Lions want people who have the time to volunteer for service projects and are able to afford the dues, Kau said.
Before membership in the Lions was opened to women, wives, daughters and sisters of members belonged to Lioness Clubs. Eventually, any female was allowed to become a Lioness, Kau said.
In the early 1990s, the International Association of Lions Clubs decided not to recognize Lioness Clubs any more, although they could continue to function under the sponsorship of a Lions Club.
Of the 10 Lioness Clubs in Hawaii at the time, seven decided to fold. Three Lioness Clubs remain active. Women can hold dual memberships, Kau said, although many women now simply opt to become a Lion. In fact, the Central Hilo Lions Club is made up entirely of women, he said.
Need help with problems? Call Kokua Line at 525-8686,
fax 525-6711, or write to P.O. Box 3080, Honolulu 96802.
Email to kokualine@starbulletin.com