8/10/2023 0 Comments Le peep denver coThe funds in the accounts came from the operation of Le Peep restaurants that previously had submitted their income to Grill or Restaurants. In June 1999, LLC opened the bank accounts at issue here. At the time, Rhoads was president of all three of these entities and manager of *488 LLC Restaurants was still the sole owner of Grill stock and Grill owned all the membership interest in LLC. Also at this time, Rhoads filed a UCC-1 financing statement to perfect an earlier security interest in the assets of Restaurants, Grill, and Rhoads Holding. In February 1999, Grill and Restaurants no longer received revenue, and they exchanged all their remaining assets for membership certificates of LLC. LLC obtained a certificate of authority to transact business in Colorado in December 1999, after the garnishment took place. In 1993, Rhoads formed Rhoads Holding, of which he is the sole owner.Īlso in 1993, plaintiff brought suit in New York, naming Restaurants and Grill, among others, as defendants. According to his testimony, Rhoads lent a substantial sum of money to Restaurants and Grill at that time, over a million dollars to Restaurants alone. Around the same time, Restaurants acquired the stock of Grill in exchange for a substantial portion of Restaurants' assets. In 1992, Rhoads acquired Restaurants and Grill from a previous owner. The ownership history of these entities is complex. Rhoads testified that Rhoads Holding then owned Restaurants, Grill, and LLC. (Rhoads Holding), and he also was the manager of Le Peep Restaurants, LLC (LLC). We affirm.Īt the time of the garnishment hearing, Mitchel Rhoads (Rhoads) was the president of Le Peep Restaurants, Inc. Rhoads, and Rhoads Holding, Ltd., appeal from the judgment entered in favor of plaintiff, Great Neck Plaza, L.P. In this garnishment proceeding, intervenors, Le Peep Restaurants, LLC, Mitchel E. McShane, Denver, CO, for Intervenors-Appellants. Arnold, Lakewood, CO, for Plaintiff-Appellee.Ĭlanahan, Tanner, Downing & Knowlton, P.C., Chad M. Rhoads and Rhoads Holding, Ltd., Intervenors-Appellants. GREAT NECK PLAZA, L.P., Plaintiff-Appellee,
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