RECEIVER'S NEW CONTACT INFORMATIONUpcoming Scheduled Events
Receiver's Reports
Receiver's Plan
general
ENDING OF RECEIVERSHIP
(LAST UPDATED 11:00 a.m. JULY 16, 2008)
TABLE OF CONTENTS
DOCKET OF GENE STIPE v. STEVEN R. PHIPPS CASE (CLICK HERE TO GO DIRECTLY TO THE DOCKET)
STATUS OF SALES
HIGH
BIDDERS APPROVED BY COURT
RECEIVER'S NEW CONTACT INFORMATION
Upcoming
Scheduled Events
Receiver's Reports
Receiver's Plan
general
ENDING OF RECEIVERSHIP
(LAST UPDATED 11:00 a.m. JULY 16, 2008)
At a hearing on Tuesday, July 15, 2008 at 1:30
p.m. before Judge James
Bland, in McAlester District Court, all parties agreed to four orders which were
signed by all parties' attorneys and by the Judge, and were filed properly with
the Court Clerk.
These Orders
included the final approval of fees for the Receiver (Kraettli Q.
Epperson, attorney), the Receiver's Attorney (AndrewsDavis: Steve Moriarty)
and the Receiver's Accountant (BKD: Todd Lisle).
In addition,
the Receivership was dissolved and the Receiver was discharged
from further duties and responsibility (Order
Dissolving Receivership and
Discharging Receiver)
STATUS OF SALES
(LAST UPDATED 1:00 p.m. MARCH 25, 2008)
The closing
to transfer PEI's 2/3 stock ownership in Meurer was held
Friday, January 29, 2008, in the office of the Receiver's attorney in Oklahoma
City.
The closing
to transfer substantially all of the assets of Guaranty
Abstract Company of Stigler, Inc. was held Tuesday, March 11, 2008, in the
Stigler office.
The closing to transfer substantially all of the assets of Latimer County
Abstract Company was held Tuesday, March 18, 2008, in the office of the
Receiver's attorney in Oklahoma City.
HIGH BIDDERS APPROVED BY COURT
(LAST UPDATED 5:30 p.m. FEBRUARY 1, 2008)
A Hearing was held before Judge Bland, Pittsburg
County District
Court on Thursday, January 31, 2008, at 9:00 a.m. At this Hearing, the High
Bidders and any Backup Bidders were presented to the Court and were all
approved by the Court.
The High Bidder and Backup Bidders were:
1. Assets of: Guaranty Abstract Company of Stigler, Inc. (Haskell
County)
High Bidder: Greg Stidham ($917,500)
Backup Bidder: Sequoyah County Abstract ($915,000)
2. Assets of: Latimer County Abstract Company (Wilburton)
High Bidder: Brenda Phipps ($960,000)
Backup Bidder: None
3. 2/3 Stock of: Meurer Abstract & Title Company (Pawnee)
High Bidder: Ry-Son Oil Corporation ($953,000)
Backup Bidder: Brenda Phipps ($951,000)
The Closings for these 3 sales are set to occur on or before March 1,
2008.
The following Orders are available online:
(a)
The Order Authorizing and Approving the Sale of Substantially
All of the Assets
of Latimer County Abstract Company and
(b)
the Order Authorizing and Approving the
Sale of Substantially
All of the Assets of Guaranty Abstract Company and
(c)
the Order Authorizing and Approving the Sale of Phipps
Enterprises, Inc.'s Stock in Meurer Abstract & Title Company.
ATTENTION INTERESTED PERSONS!
THE RECEIVER'S CONTACT INFORMATION HAS CHANGED!
As of Tuesday, January 1, 2008:
Kraettli
Q. Epperson
Mee Mee Hoge & Epperson
1900 N.W. Expressway, Suite 1400
Oklahoma City, OK 73118
Voice: (405) 848-9100
Fax: (405) 848-9101
Thursday, May 22, 2008: Distribution of Assets and Funds to Shareholders
Tuesday, July 15, 2008 at 10:00 a.m.: Receiver's Discharge Hearing
First
Supplemental: September 14, 2007
Second Supplemental: November 14, 2007
Third Supplemental: January 14, 2008
Fourth Supplemental: March 14, 2008
Fifth Supplemental: May 14, 2008
Sale Order (Approving Sale process) (filed November 14, 2007)
Amendment to the Sale Order (modifying the final distribution process) (filed May 16, 2008)
If you have questions regarding the status of the Receivership, please contact Kraettli Q. Epperson, the Receiver, by e-mail or by phone at (405) 848-9100.
If you have specific legal questions, please contact the
Receiver's attorney, Steve Moriarty, at (405) 272-9241.
(back to top of page)
