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Timeline of Events
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Date
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Event
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1999
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Deutsche Bank establishes loan facility with Level Propane and affiliated companies
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2000
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Mick class action filed by Equal Justice Foundation.
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2001
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Deutsche Bank pressures Maloof to sell Level Propane.
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November, 2001
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Maloof retains Benesch, Friedlander, Coplan & Aronoff (BFCA) to evaluate Ch. 11 filing.
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December, 2001
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Verbos initiates check concealment scheme (with DA, whom we believe is Dick Anter.)
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February, 2002
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Star Gas makes formal offer for the Level Propane home heat business ($165MM.)
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December, 2001
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State Attorneys General, at instance of Betty Montgomery, initiate consumer complaints against Level Propane.
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March, 2002
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Bank Group installs John Rudd as Chief Restructuring Officer
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April, 2002
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State consumer complaints settled
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June, 2002
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Rudd resigns
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June 6, 2002
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Bank Group votes shares pursuant to loan agreement, appoints Charles Sweet Director
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June 6, 2002
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Bank Group files involuntary bankruptcy on Level Propane, converts case to Ch. 11 to maintain control of businesses
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July, 2002
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Steven Sues appointed CEO of Level Propane as Debtor, Richard Anter appointed President.
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July, 2002
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BFCA appointed Debtors’ counsel by Bankruptcy Court
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August, 2002
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Check concealment scheme for 2001-2002 heating season concluded
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September, 2002
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First, aborted, auction of going concern assets
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October, 2002
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Eaglerock Propane, created and owned by Jacobs Group for the purpose, takes over management of Level Propane in bankruptcy.
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November, 2002
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Verbos check concealment scheme resumes for 2002-2003 heating season
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January, 2003
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Customer database and leased customer tank database de-coupled.
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April, 2003
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Customer database compromised
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April, 2003
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Second auction of Level Propane assets set
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May, 2003
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Examiner, appointed on April 28, 2003, begins investigation
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June 6, 2003
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Examiner’s report made
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June 27, 2003
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Direction of assets to Eaglerock
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October, 2003
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Sale of assets to Amerigas
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