Joystar Faces Liquidation

Patrick Scott, Esq., Gray Robinson, Ft. Lauderdale FL, the attorney for the official creditors' committee in the law suit against Travelstar/Joystar reports that the federal Bankruptcy Court in Ft. Lauderdale ruled on June 10 that the case is being re-converted from a Chapter 11 reorganization to a Chapter 7 liquidation. Scott said that a trustee will be appointed to liquidate the company’s assets and probe any possible recoveries for the benefit of the creditors.  Drew Axelrod, a leading creditor owed commissions by Joystar, called the courts decision a victory for agents owned money by defunct Joystar.


Read more on:

Suggested Articles:

From July to August, there was a sizable increase in the number of advisors who believe promotional offers would impact booking decisions.

If the pandemic suddenly ended tomorrow, nearly half of respondents said their first large discretionary purchase would be a trip. Learn more here.

Chris Conlin, president and CEO of Conlin Travel, sees a future for leisure travel—and it includes DIT (Domestic Independent Travel). Read more here.