General contractor Brian M. Marshall, founder of companies including Fireline Restoration Inc., Initech Restoration, Marshall Investments LLC, Marshall Aviation LLC, and numerous others, has requested that courts dismiss the latest of his bankruptcies or convert them to liquidation under Chapter 7, following a $691,000 loss in equity by Initech.
Branch Banking & Trust Co. has filed lawsuits to seize Marshall’s real estate and properties to collect on $21 million in loans. According to court records, the company is looking to repossess a Porsche, Bentley, Land Rover, and Ferrari in addition to the 45-foot SeaRay they have already taken. Marshall’s Gulfstream jet was seized last year by another of his many lenders.
These bankruptcies follow the Securities and Exchange Commission’s report that Marshall and his executives had created a “fantasy land of fraud” to increase share prices.
If you are in a difficult financial situation and need help regarding your Chapter 7 and Chapter 13 bankruptcy and repossession options, contact Birmingham bankruptcy attorney Paula Greenway at (205) 324-4000.