Case Information

Bankruptcy Name: 1Point Solutions, LLC
Case Number: 06-05400
Chapter: 11 (Involuntary)
Date Filed: September 26, 2006

Bankruptcy Name: Barry R. Stokes, Individually
Case Number: 06-05898
Chapter: 11 (Voluntary; Administratively Consolidated with 06-05400)
Date Filed: October 13, 2006

Monday, November 27, 2006

Insurance Policy Contacts

We have received a request regarding contacts for the Chubb and Hartford insurance policies. The information we have is posted below.

PLEASE NOTE: The Chubb Policy expires on November 30, 2006. If you are going to file a claim against this policy, please do so quickly.

Chubb: Andrew Triggle, atriggle@chubb.com, Chubb Group of Insurance Companies, 82 Hopmeadow Street, P. O. Box 2002, Simsbury, CT 06070-7683; Policy No. 6803-4277

Hartford: The Hartford, BOND T-4, 690 Asylum Avenue, Hartford Connecticut 06115; Policy/Bond No. 20BDDCX4236

12/16/2006 - Auction of Real and Personal Property of Barry Stokes

RESIDENTIAL HOUSE AND PERSONAL PROPERTY
744 Blakemore Road, Dickson, TN

Auction set for 10:00 a.m., December 16, 2006


Barry Stokes home in Dickson and its contents will be sold Saturday, December 16, 2006, at bankruptcy auction. According to the Dickson County Tax Assessor the house is on a one-acre lot. It is 1,464 square feet of living area, 872 square feet of basement space and an interior garage with 520 square feet. The total square footage is 2,856. The house is fully furnished and everything must go.

There is not sufficient space in the house to conduct the sale indoors. A tent will be erected in the backyard for the personal property sale.

This sale will also be conducted by Bill Colson Auction & Realty Co. Additional information, photographs, etc., will be posted at www.colsonauctions.com.

12/14/2006 Auction of Real Property

RESIDENTIAL HOUSE AND STORAGE BUILDING
211 Sylvis Street, Dickson, TN

Auction set for 10:00 a.m., December 14, 2006


Barry Stokes used the house at 211 Sylvis Street in Dickson for storage of the Japanese Wood Block Print Collection. It is a small house with 1,064 square feet of living area on a one-acre lot according to the local Tax Assessor. It is now empty. In addition, there is a steel storage building 30'x40' on a concrete pad adjacent to the house. This is a perfect building for a woodworking shop, storage or a multi-car garage. 1Point Solutions and Barry Stokes had used the building for storage. Some of the items kept there were sold in the Bellevue sale, some remain.

Bill Colson Auction & Realty will conduct a bankruptcy auction of this real estate and a little personal property beginning at 10:00 a.m., Thursday, December 14, 2006, on site. For more details on the sale go to www.colsonauctions.com. As the sale date gets closer, photographs and details about the sale will be posted there.

Audit Progress

Many former clients of 1Point have been asking for assistance in their attempts to determine the correct balance for each of their employees' Flexible Spending Accounts, Health Savings Accounts and others. We had hoped MBI would cooperate better than it has. It seems some call and get information with ease and others are rebuffed.

The Trustee's Office has put significant energy into the audit of 1Point. Before the clsoe of business Friday, December 8, 2006, it is our intention to furnish ebery client (employer) with a printout for each type of service 1Point was providing. These reports will be entitled "Enrollee Account Balance" and will tell employee by employee the total deposits made to the account during 2006, the total disbursements from the account and the account balance.

Please understand the account balance will be the amount that should be in the account had their not been embezzlement, comingling and misappropriation. Nonetheless these numbers should be helpful to employers and employees alike as they transition to new programs and Third Party Administrators.

1Point Solutions & Barry Stokes Meeting of Creditors - 11/15/06

The meeting of creditors in the 1Point and Barry Stokes Chapter 11 cases were held Wednesday afternoon, November 15th, at the Customs House in Nashville. Mr. Stokes is currently being held in the Metropolitan Nashville Criminal Justice Center without bond pending trial on federal charges alleging theft from ERISA approved retirement, medical programs and flexible spending accounts. He was brought in his prison uniform to the Bankruptcy Court for the hearing by the U.S. Marshal Service.

The hearing was well attended by attorneys and a few laypersons. Mr. Stokes was questioned as President of 1Point and individually. With the exception of stating his name when asked, he elected to invoke the provilege provided by the Fifth Amendment to the U.S. Constitution and not answer any other questions. When it became apparent he was not going to answer questions, he was returned to the jail. he was not allowed to stay until the conclusion of the hearing.

The bankruptcy schedules which had been prepared by the Trustee's office were thoroughly reviewed during the course of the two-hour meeting. The hearing was digitally recorded. A CD of the hearing is available from the U.S. Trustee's Office in Nashville. If you would like to have one, they are free. You may request a CD by emailing angela.greer@usdoj.gov or sending a FAX to Angela at 615.736.2260. If you want the CD mailed to you, make certain you include your return address.

Bellevue, Tennessee Auction - 11/14/2006

I was very pleased with the personal property auction at the former 1Point Solutions, LLC, office in Bellevue, Tennessee. It is possible to have too many bidders at an auction and we almost attracted more folks than the facility would handle. The sale included primarily computers and office equipment. There was a Buick and a trailer both of which were titled to 1Point and brought from Dickson. We used the trailer to haul office equiopment from the phone center in Dickson to the sale. When hammer fell on the final lot we had a total sales of approximately $60,000.00.

Many of you probably read about the burgulary of the building the night before the sale. We did lose eight flat screen monitors and four used computers. The contents of the building were insured. We have filed a claim. It appears the insurance adjustor is going to use the prices brought for comparable equipment in the auction to set the value of the items stolen. That seems fair. We are expecting a check in the mail shortly.

Wednesday, November 8, 2006

Commercial Crime and Errors and Omission Policies

The Hartford Commercial Crime Insurance Policy has been uploaded to the site; the policy term is 5/21/06 - 5/21/07.

The Federal Insurance Company E & O Insurance Policy has been uploaded to the site; the policy term ends 11/30/2006.

These are two insurance policies located by the Trustee in the records of 1Point. They are still in force.

We receive notifications daily from the insurance company telling us claims are being made against these policies. We are displaying them here so that everyone, rather than just a few, involved in the 1Point/Barry Stokes matters will know about them.

Monday, October 23, 2006

Notice of Meeting of Creditors - 11/15/2006

1 Point Solutions, LLC: 341(a)Meeting of Creditors for 1 Point Solutions, Bankruptcy Case No. 06-05400, Continued. Meeting to be held on 11/15/2006 at 03:00 PM at Customs House, 701 Broadway, Room 100, Nashville, TN 37203.


Barry R. Stokes: 341(a)Meeting of Creditors for Barry Stokes, Bankruptcy Case No. 06-05898 (administratively consolidated with 1Point Solutions, LLC). Meeting to be held on 11/15/2006 at 02:00 PM at Customs House, 701 Broadway, Room 100, Nashville, TN 37203.

Barry Stokes

Now that Barry Stokes is in Bankruptcy, I must gather all of his assets and liquidate them. We have already scheduled the auction of a great deal of 1Point Solutions office equipment for 10:00 a.m., Nov. 14, 2006 on site at the Bellevue, Tennessee, office of 1 Point Solutions, LLC, 922 Harpeth Valley Place, Nashville, Tennessee.

We are in the process of setting auctions for the storage facility owned by Barry Stokes at 211 Silvis St. and his residence at 774 Blakemore Road, in Dickson, Tennessee. In addition the contents of his residence will be sold on the same day. Details of these three sales will be posted here as soon as possible.

Meanwhile the search for the missing portion of his Japanese Wood Block Print Collection is in full swing. His wife has agreed to turn over a large part of the collection Tuesday, Oct. 24. That does not mean we will have it all. Barry Stokes liked to loan his prints. There may be more hanging on office walls around Middle Tennessee. If you know of any, please notify us so we can make arrangements to pick them up.

In addition, any time a large amount of money goes missing one must ask the question, was this money moved to another state or to an offshore account. The only bank accounts I am currently aware Barry Stokes had in his name or in the name of 1Point were in Tennessee at AmSouth and the Fifth Third Banks. If you remember receiving payment from any other accounts please let us know. If you have reason to believe he might have set up any off shore accounts, please contact us. We will listen and investigate. We do not want to leave any stone unturned.

Wednesday, October 18, 2006

Sale of Flexible Benefits Business and COBRA Administration Business

The flexible benefits accounts, including the HSA, HRA, DCA and FSA business and COBRA administration business of 1Point Solutions, LLC, was sold to Ameriflex, LLC.

If you had a flex benefit account or COBRA account with 1Point Solutions, LLC, your new contact regarding these accounts is:


Kenneth Ives, Regional Sales Manager
AmeriFlex
303 Fellowship Road
Mount Laurel, NJ 08054
Toll Free: 888-868-FLEX (3539), Ext. 118
kives@flex.com

www.flex125.com

The money you sent to 1Point Solutions, LLC, was comingled in a single account with money from a number of other customers of 1Point. The accounts are frozen, and there are competing claims, so it will take some time to sort things out.

Again, I urge you to file a Proof of Claim. The form is downloadable from this page, and instructions are below.

Wednesday, October 11, 2006

1POINT SOLUTIONS, LLC: Case No. 06-05400

Since my appointment September 28, 2006, our office has received scores of phone calls from clients of 1Point Solutions, LLC. We have tried to respond to every one of those calls. By doing that, we have learned a lot about the case and the problems creditors are having.

The most consistently asked question has been, "When will you send the money that was being held for our employees?" A better question would have been, "Is any of our employees' money left?"

Right now we do not know the answer to either question. All 50+ bank accounts maintained by 1Point Solutions, LLC, have been compromised. We are in the process of trying to figure out what should be in them, what is in them and where the missing money went. This is going to take time.

Filing a proof of claim with the Bankruptcy Court is a smart move for every creditor. There are instructions on this website regarding how to do that.

Please do not call unless you feel it is essential. If you do call and get voice mail, please do not explain your situation. Simply say your name, phone number and "1Point". Then hang up. We will call back as quickly as possible