OIL CO. ) IN THE
)
) CIRCUIT COURT
)
Plaintiff ) FOR
)
v. ) ANNE ARUNDEL COUNTY
)
DAVID G. HOOD )
10088 Sparrow Court ) Case No. ______
New Market, MD 21774 )
)
ROGER H. DAVIS )
13503 Little Cove Road )
Mercersburg, PA 17236 )
)
Defendants )
)
______)
COMPLAINT
Oil Co. , Plaintiff, through counsel, as its Complaint herein, respectfully alleges:
1. Oil Co. is a Louisiana corporation. The corporation is in the business of selling and distributing fuels and lubricants.
3. Defendant David G. Hood is an individual who resides in Frederick County, Maryland. He is or was the president/ CEO, director and principal shareholder of Pinnacle Waste Group, Inc.
3. Defendant Robert H. Davis is an individual who resides in Franklin County, Pennsylvania. He is or was an investor in, advisor to, and shareholder of the Pinnacle Waste Group, Inc.
4. Pinnacle Waste Group, Inc. [hereinafter “Pinnacle Waste” or “Company”] is a corporation organized under the laws of the State of Maryland. The Company had its principal office in Anne Arundel County, and until July 2008 was in the waste disposal business. During the period during which the events alleged herein occurred, Pinnacle Waste conducted business operations in and about St. Charles Parish, Louisiana.
5. During the period from 11/30/05 through 8/28/06, Pinnacle Waste maintained an open account with Oil Co. for goods sold and delivered, i.e., diesel fuel. During this period, Plaintiff rendered invoices to Pinnacle Waste for fuel and related charges in the aggregate amount of $28,408.24. Despite demand, Pinnacle Waste failed and refused to pay these invoices.
6. On 4/17/08, Plaintiff initiated legal proceedings by filing a complaint against Pinnacle Waste in the St. Charles Parish, Louisiana District Court, based on Pinnacle’s failure to pay for goods sold and delivered, Oil Co. , Inc. v. Pinnacle Waste, Inc., Case Number 67,490. The complaint demanded judgment against Pinnacle Waste in the amount of $28,408.24, together with legal interest and attorney’s fees.
7. On 1/26/09, the St. Charles Parish District Court entered an amended judgment in favor of Plaintiff and against Pinnacle Waste in the amount of $28,408.24 plus legal interest on each invoice, and attorney’s fees of 25%. Plaintiff has recorded the Louisiana judgment against Pinnacle Waste in this Court contemporaneously herewith.
8. On 7/17/08, Pinnacle Waste transferred all or substantially all of its assets to IESI MD Corporation, a corporation organized under the laws of the State of Maryland. The consideration for the asset transfer was $3,350,499.00. Upon information and belief, Pinnacle Waste has discontinued business operations and has effectively dissolved.
9. River Parishes was a creditor of Pinnacle Waste at the time of the asset transfer. Moreover, Plaintiff had filed a law suit against Pinnacle Waste in order to collect unpaid invoices for goods sold and delivered at the time of the asset transfer.
10. Pinnacle Waste did not apply proceeds from the asset transfer to the satisfaction of Plaintiff’s judgment claim for goods sold and delivered.
11. Upon information and belief, instead of paying its creditors, Pinnacle Waste distributed some or all of the proceeds from the asset transfer to Defendants Hood and Davis, shareholders of Pinnacle Waste, before satisfying creditor claims against the Company.
12. When Pinnacle Waste transferred all or substantially all its assets to IESI MD Corp., Defendants, as controlling shareholders, directors, and officers of Pinnacle Waste, became trustees of funds received by Pinnacle Waste from the purchaser in consideration of the asset transfer. As trustees, Defendants held such funds for the benefit of the creditors of Pinnacle Waste, including Oil Co.
13. Defendants are individually liable to Oil Co. , to the extent that funds received by Pinnacle Waste in consideration of the transfer of assets to IESI MD Corp. were distributed to Defendants.
WHEREFORE, River Parishes Oil demands judgment against Defendants, jointly and severally, in the amount of $35,510.00, the amount of Plaintiff’s judgment claim against Pinnacle Waste, plus costs, and for such other and further relief as justice may require.
Date: ______
James P. Koch
1101 St. Paul St.
Suite 404
Baltimore, MD 21202
410 539 7816
Attorney for Oil Co.