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Horizon Propane
Horizon Propane, as nominee, took the going-concern assets conveyed to Eaglerock Propane out of the Level Propane bankruptcy. It operated the assets for the Jacobs Group from June 27, 2003 until October 1, 2003 outside of the bankruptcy estate. During that time, it accepted and cashed thousands of customer payment checks held back and concealed from Level Propane that were received during the 2002-2003 heating season. These checks were brought to the cash room by John Verbos on a regular basis for deposit. Horizon Propane was purchased by Amerigas for $31 MM by Amerigas not twelve weeks after it purchased the going-concern assets from the estate.
See links to: Sale Order; Kessler Statement; LP Gas News.
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