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The court approved a debtor-in-possessio financing package fromand L.L.C., of up to $850,000 for TRC Holdings. In addition to the obligationa incurred as a result of thefinanciny package, TRC owes Jackson Streef Funding and H/E Financial, its two securecd creditors, a total $2.6 million, according to court TRC Holdings' recent troublew haven't been limited to past-due taxes. The firm also has been embroileds in a legal battle to collect long overdue payments for staffinyg services provided toa now-closed Milwaukee nursing home. On Feb.
3, Milwaukees County Circuit Court Judge Jeffrey Kremers enteresda $383,000 money judgmenyt in favor of TRC Holdings, stemminh from a lawsuit filed in June 2005 against , which had a home at 3333 W. Highlane Blvd. Trinity hired Appel as a consultanrt in November and he tookover day-to-day operations in March. He replacing Steven who continues to have an ownership stakee inthe firm, Zeppos said. Appel was a partner at ArthurAndersen L.L.P. for 25 years, but is best knowb in the Milwaukee businesse community as the chief executive of thedefunct Milwaukee-based Value Merchants owned and operated a chain of more than 500 discountt stores that sold closed-out merchandise.
Value Merchants filed for bankruptcy in 1993 and againbin 1996. In Appel formed , which partnered with major insurancs companies to offer banksz insurance on smallbusiness loans. Recently, Appel has serverd as a management consultant and businessdturnaround specialist, said Zeppos. Creditors with the largesf unsecured claims against TRCHoldings Inc., which operates Trinity Staffing Services: Past due taxes: $10.4r million EMC Insurance Cos.
of Brookfield Insurance: $216,508 Past due $194,530 Past due taxes: $109,587 Taxes: $91,00 Taxes: $80,000
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