Vucurevich In U.S. Bankruptcy Court
by KDLT News
October 21, 2011 9:16 PM
The former owner of the Sioux Falls Storm and the now closed Ground Round restaurant appeared in Federal Bankruptcy Court this afternoon. Creditors have filed a petition for involuntary Chapter 7 bankruptcy against Kent Vucurevich.
"He ruined my life, financially and otherwise," said Businessman Ted Thoms.
Ted Thoms of Thoms Company Real Estate says 33-year-old Kent Vucurevich owes him approximately three million dollars. Thoms says it was through a series of loans that he made to Vucurevich and a series of debts he covered for him. He's not the only one that says Vucurevich owes them money.
Along with Thoms, about half a dozen other creditors have filed an involuntary petition of Chapter 7 bankruptcy against him. Chapter 7 bankruptcy law governs the process of liquidating a person's assets. In Court on Friday, those creditors were trying to figure out just how much money Vucurevich has and owes.
Thoms says Vucurevich doesn't have a lot of answers and is having a hard time coming up with the paperwork his attorney wants and needs.
"I don't know how much longer he can not cooperate with the Federal Bank Court and the Trustee with providing these documents," said Thoms.
According to Thoms, there's no reason why Vucurevich can't pay up.
"When we talk about these trust, these aren't thousands of dollars, they're hundreds of thousands, millions of dollars so he and his family and his trust can pay these 37 to 43 million dollars in local debt off in a heartbeat, " said Thoms.
Kent Vucurevich had no comment. He promised he would come up with the paperwork asked for by creditors in two weeks. Vucurevich will be back in U.S. Bankruptcy Court in Sioux Falls on December 2nd.