JoyStar Agents File Banktruptcy Petition v Joystar
Drew Axelrod is the lead agent in the December 2008 filing of a Chapter 7, Involuntary Bankruptcy petition against Joystar/Travelstar.
Axelrod said the recent filing makes for a total of 34 creditor petitioners for the official amount owed by the default debtor Joystar of $227,530.75 with signed court forms. 'As many as 70 travel agents have notified us in writing and by e-mail, of defaulted commissions and they all state they would be petitioning the U.S. court for their lost commissions which total approximately $350,000,' Axelrod said.
More petitions will be filed on Monday, January 12, according to Axelrod. 'Agents are contributing 5 percent of what they are owed to a legal fund," he said. "Checks are also coming in from non-creditors. One sympathetic host agency sent in a check for $500 to the 'Joystar Agents Legal Fund' to help defray the court costs and attorney's fees.'
The Joystar creditor agents request that all travel suppliers "hold" any outstanding commission dispersements and, also, host agency annual override payments until such a time that the U.S. Bankruptcy court gives further direction or resolves this matter.
'To date, Joystar has not responded to our summons, which were sent to their Aliso Viejo, CA, Sunrise, FL, Jupiter, FL and Palm Beach Gardens, FL, addresses," Axelrod. "Also, Federal summons were sent to Joystar Board of Director, William Fawcett of Coto de Caza, CA and Joystar Executive Vice-President Jo Beemer and Jason Borromei of Laguna Niguel, CA.'
William Alverson is the former CEO of TravelMax International, a home based agent program that folded in the 1990s.
Related News
-
Joystar Now Chapter 7
The US bankruptcy court in Ft. Lauderdale has ordered that the defunct Host agency Joystar bankruptcy case be converted to Chapter 7 from Chapter 11. The ruling cam on a motion filed by Joystar's unsecured creditors -- mostly travel agents owed commissions. These agents in December started the case ... Read More...Court Sets June 10 Date for Joystar Hearing
A hearing has been set for June 10 in bankruptcy court in Florida for the host agency Joystar, whose creditors are pushing to convert the company's current Chapter 11 bankruptcy case, which would allow the company to reorganize, to Chapter 7, which would liquidate the company. The hearing has been s... Read More...Joystar Uses Agent Commissions to Pay Employees
Host agency Joystar, now in Chapter 11 proceedings in U.S. Bankruptcy Court in the Southern District of Florida, reported in court filings last week that it had received just over $46,000 in commissions between Feb. 10 and Feb. 28. It said it returned just over $2,800 in commissions, giving it a tot... Read More...Court Allows Cruise Lines to Move Joystar Bookings
Carnival, Princess and Holland America, all owned by Carnival Corp., have been granted permission, under certain circumstances, to move Joystar bookings to alternative agencies. Independent agents and passengers can arrange to shift bookings by making a written request. Joystar does not have to a... Read More...
