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.