Money Tree trial to begin in Albany

Published 6:35 pm Friday, September 30, 2016

The bankruptcy trial for Money Tree, Inc., will begin next Monday at 8 a.m. at the Federal Courthouse in Albany.

Money Tree and some of its subsidiaries filed for Chapter 11 bankruptcy in December 2011.

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The Post-Confirmation Committee of Unsecured Creditors filed a lawsuit in the U.S. District Court in Albany against various defendants with the goal of holding wrongdoers within the Money Tree operation accountable.

The lawsuit seeks the recovery of numerous transfer from the Money Tree to members of the Martin Family, businesses and trusts controlled by the Martin family and company president Bradley Bellville. The lawsuit alleges the defendants were responsible for the downfall of Money Tree and the loss of investments made by investors.

The Post-Confirmation Committee of Unsecured Creditors was appointed by the U.S. Bankruptcy Court in the bankruptcy of Money Tree.