THR & Associates Bankruptcy

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SPRINGFIELD- Trustee Charles Covey recently filed notice of the sales in U.S. Bankruptcy Court in Springfield. The sales are the latest in a series intended to pay hundreds of creditors and hundreds of millions in debts resulting from the collapse of THR. 

The latest asset sales in the bankruptcy filings of THR and Associates, and founder Jeff Parsons, include eight-hundred fifty thousand dollars worth of recreational land, a 2010 Harley Davidson, and a 1997 Hummer. Parsons and THR filed separate personal and corporate bankruptcies in September of 2012. Each petition listed two-hundred to nearly one-thousand creditors, ten million to fifty million dollars in assets, and one-hundred million to five-hundred million dollars in debts. Court documents show the eight-hundred fifty thousand dollar land sale included nearly two-hundred fifty acres in Pike County. An individual was listed as the purchaser, but the contact information for the buyer was not included. The 2010 Harley Davidson and the 1997 Hummer were sold separately in late September. The motorcycle brought in nearly twenty-thousand dollars, and the Hummer was sold for twenty-two-thousand dollars. According to court filings, about eight-hundred-thousand dollars was paid to Peoples Bank and Trust Co. The remainder was paid to a buyer who had a contract for deed on the property.

THR was based in Springfield and ran a nationwide network of road show purchasing events before the company shutdown in the summer of 2012.

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