Olympus Pools owner bankruptcy could impact hundreds of customers

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TAMPA, Fla .– When James Staten and his wife filed for Chapter 11 bankruptcy, the creditors’ list was missing the 200 or so former clients of Olympus Pool who claimed they were owed money due to the failure of the Lutz-based company to complete the job and pay their subcontractors.

The clients are left out because the bankruptcy claimants are Staten and his wife, not the business the couple owned.

Staten’s bankruptcy attorney, Joel Aresty, said Staten’s filed for personal bankruptcy protection because one of their biggest creditors, an Olympus pool provider – SCP Distributors – obtained a million-dollar judgment against the couple in September. This ruling enabled SCP to obtain garnishment and freeze the money in the Statens’ personal bank account.

In court documents, Staten lists $ 17,000 in monthly expenses, including $ 2,000 for electricity, $ 10,000 for lawn maintenance and payments for three luxury vehicles. A bankruptcy judge this week approved a deal between SCP Distributors and Staten’s that will give the family just under $ 11,000 a month to cover expenses for them and their five children.

The court ordered their lawyer to provide more details about the couple’s assets. James Staten listed his $ 3.25 million home and the $ 1.9 million Olympus Pools building for sale this week. Aresty said the money will be used to pay the creditors listed in the case.

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Bankruptcy attorney Richard McIntyre, who has no connection to the case, said Olympus Pools clients should file as creditors to secure any chance of getting some of the assets liquidated.

“If I were a home owner, I would strongly consider contacting the US trustee’s office and filing a bankruptcy claim,” he said. If Olympus Pools customers don’t act quickly, all the money will go to the bigger creditors already on the record, McIntyre said.

Customers who feel they have a complaint can file as a creditor in bankruptcy court.

But Staten’s attorney said there would be an objection to adding owners as creditors because he said James Staten was not solely responsible for the company’s downfall.

In court documents, Staten blamed historic labor shortages, key employees and the media for the company’s collapse.

According to a document that Staten filed with the court: “The CFO, accountants and accountant whose job it was to monitor the financial health of the company was a combination of negligence and complacency … several business members and their business directors have left. to start their own business. business and businesses. … [And] at the end of each report, viewers were encouraged to complain to the DBPR and the attorney general’s office ”,

Olympus client Jackie Kalnins said leaving clients out of bankruptcy was another slap in the face.

“He’s not taking ownership, he’s the owner, he should know what’s going on,” Kalanins said.

Kalnins got a second job to pay another contractor to finish his pool. She wants the $ 25,000 she says she paid Olympus Pools for a job they never did.

“There is money out there that can be divided if they were to deposit it,” she said.

The attorney general’s office this week filed a lawsuit against Staten and Olympus, accusing the company of twisting project schedules, failing to complete work and failing to pay contractors. Moody estimates the damage at over $ 8 million and is seeking to recover some of that money for customers.

RELATED: AG sues Olympus Pools for hundreds of unfinished jobs



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