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The REAL Paul Leitner-Wise

The thing that escapes Paul, anytime he's talking himself up, is the fact that he has filed bankruptcy THREE times in like two years. In certain circles, he's known as "Paul Leitner-Wise, the Bankruptcy Guy." The first time in 2013, case 13-10713, where he states in Federal court that his income source is "self-employed" by "Leitner-Wise Manufacturing, LLC"

That bankruptcy was dismissed on March 7, 2014 for failure to make plan payments. Paul files bankruptcy for the second time on June 27, 2014, case 14-12420, where he states in Federal court that his income source is "self-employed" by "Leitner-Wise Manufacturing, LLC" This was also dismissed, for failure to commence payments.

No worries, Paul files his THIRD bankruptcy case, on April 20, 2015, case 15-11345. This time though, he's cooked up a plan. Paul DOESN'T own LWM, and never did. He lists his "income sources" as "Consultant and Inventor" Employed by, "Paul Leitner-Wise" himself. Guess how long he was employed there? For the last twenty years, of course. Isn't it awesome to just MAKE UP whatever past you need, when you need it, retroactively? Now THAT's, self-made!

This bankruptcy got quashed, when the United States Government objected to Paul's claims, and when LWRCI (LWRC International, LLC) sent in a lawyer to stop the nonsense. Paul and Vanessa like to go on to anyone who will listen, about "Royalties owed Paul" and LWRCI must have finally gotten sick of it when they found out about this THIRD bankruptcy.

LWRCI's attorney filed a "Motion for examination and production of documents." Within the motion:
"3. The May 26th Plan modified Sections 6(B) and 11 of the original Plan and alleges that Debtor has a royalty contract with LWRCI which would result in at least $1,200,000.00 being due to the Debtor. Schedule B, items 21 and 35 and Schedule G also make reference to a royalty contract with the LWRCI. LWRCI is unaware of any contract with the Debtor for royalties and has no contracts with the Debtor of any kind. The Debtor’s Plan seeks to assume the alleged royalty contract with LWRCI.
4. LWRCI seeks immediate production of documents and examination of the Debtor related to this assumption and purported claim against the LWRCI, before the July 1, 2015 deadline to object to the Plan.
"

LWRCI then objected to the debtor's (Paul Leitner-Wise) amended bankruptcy plan stating:

"C. Lack of Good Faith Under 11 U.S.C. §§ 1325(a)(3) and (7)
16. The Debtor’s course of dealing with this Court suggests the absence of good faith.
As mentioned above, for years, the Debtor has sought Bankruptcy protection from this Court without once referencing an asset that, according to his most recent May 26 filing, is worth millions of dollars. In aggregate, Debtor’s inability to abide by the payment terms of two previous plans, the sudden appearance of a royalty contract that (if it exists) would provide a panacea for Debtor’s financial troubles, and Debtor’s inability (or unwillingness) to provide that contract to the Court or to LWRCI, all evidence an apparent lack of good faith and candor by the Debtor. Either Debtor failed under oath to disclose the existence of an asset that, by his own schedules, is allegedly worth $5 million dollars during two prior bankruptcies and the initial plan in this Bankruptcy. Or, alternatively, Debtor has offered false statements to the Court during this Bankruptcy (or within the last year LWRCI signed a royalty contract it has no memory of and Debtor refuses to produce).
17. LWRCI denies the existence of any royalty contract. This coupled with Debtor’s
efforts to obstruct LWRCI’s discovery requests militates against this Court granting the Debtor’s
request for relief. Accordingly, the Plan is not confirmable under 11 U.S.C. §§ 1325(a)(3) and
(7) for lack of good faith.
"

 

To make a long story, short, the Bankruptcy Trustee filed a motion to "Dismiss the case with prejudice in rem" and Paul's THIRD bankruptcy had one foot in the grave, and another on a banana peel. Turns out, the trustee didn't like the fact that two lawsuits he was a party to, were not disclosed (A requirement of the bankruptcy.)
"19. Given that Debtor’s May 20, 2015 sworn testimony was fundamentally misleading at best, and knowingly false at worst, coupled with Debtor’s bankruptcy Schedules filed in this case that are materially inaccurate, it is clear that Debtor’s transparency and veracity cannot be relied upon. 20. Debtor’s bad faith conduct and lack of candor with the Court is so egregious that Debtor should not be allowed to reap the benefits of Chapter 13 bankruptcy, nor should he be allowed to continue to enjoy the protections of bankruptcy while further hindering the rights of his creditors."

On the joyous day of July, 14, 2015, Paul's THIRD bankruptcy in two years was DISMISSED WITH PREJUDICE IN REM. Closing the books, and making public record, that Paul Leitner-Wise, and Vanessa Vy have NO problem telling a federal judge bed time stories.

 

But wait, there's more! Paul, with brass balls, that follow him around in a wheel barrow, files an APPEAL to the judgement! I won't make this any more suspenseful than it needs to be, Paul voluntarily withdrew it, when he realized the jig was up. The bankruptcy case is dead... for now. (Cue Rocky IV music.)

SERIOUS OPERATOR