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Flooring America (fka FRAE) RSS Feed

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FRAE

21 M O/S



15 M Float Estimated or less 





 

Flooring America is more than just a flooring specialty store. We are experts trained in flooring and design to help you find the perfect floor for the way you live.

As part of America's leading flooring retail group, our 500-store nationwide buying power guarantees you low prices on thousands of carpets and floors.



Flooring America previously traded on the New York Stock Exchange as high as $26 per share.

They entered bankruptcy in 2000, but nothing has been finalized yet.

http://investorshub.advfn.com/boards/read_msg.asp?message_id=27680802



Excellent dd post by The Rainmaker...http://investorshub.advfn.com/boards/read_msg.asp?message_id=27667831

21 million shares, if you look at the Morgan Stanley filing it says they own 8.6% with 1,680,000 shares.
http://www.sec.gov/Archives/edgar/data/895421/000089542106000120/flooringamerica4.txt

This gives me a shares OS of 19 million approx, there were 2 million treasury shares left probably to pay the trustee.

CUSIP No. 339756108 13G Page 2 of 8 Pages
FLOORING AMERICA INC
(Name of Issuer)

Common Stock
(Title of Class of Securities)

339756108
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley
IRS # 36-314-5972
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,658,200
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.6%


Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.

Company can't issue more shares.

Posted by: Flatsixer
In reply to: The Rainmaker who wrote msg# 192
Date:3/14/2008 9:00:28 PM
Post #of 222

Yeah I got it...From US BK PACER...

"U.S. Bankruptcy Court
Northern District of Georgia (Atlanta)
Bankruptcy Petition #: 00-68370-jb

Assigned to: Judge Joyce Bihary
Chapter 11
Voluntary
Asset
Date Filed: 06/15/2000

Debtor
Flooring America, Inc.
2593 Kennesaw Due West Rd.
Ste. 200
Kennesaw, GA 30144
Tax id: 58-2060334
aka
The Maxim Group, Inc.
aka
Maxcare
aka
CarpetMax

Trustee
Morton Levine
Levine & Block
Suite 2270
945 E. Paces Ferry Road
Atlanta, GA 30326
404-231-4567

Trustee
Smith, Gambrell & Russell, LLP
Suite 3100
1230 Peachtree Street, N.E.
Atlanta, GA 30309
404-815-3500
Tax id: 58-0967450

U.S. Trustee
Office of the US Trustee
Suite 362
75 Spring Street, SW
Atlanta, GA 30303
404-331-4437"

Posted by: Flatsixer
In reply to: None
Date:3/14/2008 10:02:22 PM
Post #of 222

Flooring America had it's Reorganization Plan filed on 18APR2003 and it was confirmed by the Court in its entirety on 12May2003. (Doc2152)

The original Ch11 bankruptcy case was filed 15June2000.

Posted by: Flatsixer
In reply to: The Rainmaker who wrote msg# 194
Date:3/14/2008 9:15:23 PM
Post #of 222
Well, there are 3394 documents/filings/exhibits on this case, lol...so I'm going to have to look into it over the weekend.

Here is something interesting...

In the Court required Monthly Financial Report on 28FEB2008 (Doc3394) there was the following statement by the Liquidating Agent under oath...

"I project that the Debtor will file a motion for a Final Decree under Federal Rule of Bankruptcy Procedure 3022 on or before June 30, 2008."

Rule 3022 is the final decree that closes a BK case.

Posted by: zardiw
In reply to: MrBigz who wrote msg# 41
Date:7/25/2007 11:56:14 AM
Post #of 222

CCA only bought some ASSETS of FA. The company is still in bankruptcy proceedings, and no final disposition has been reached. Should be this year when it is all said and done.

The stock has NOT been cancelled.

I talked with the trustee, and he said they have 2 lawsuits pending that were filed against Merril Lynch, and also Suntrust/Robinson. Those suits are in process, but it will be awhile before they are done. Trial starts in 2008.

If they win those suits, this would be huge.

There is still some outstanding debt, and they still have creditors.

He is amenable to a Reverse Merger. This could satisfy the creditors by issuing some stock for them in the new company.

Posted by: zardiw
In reply to: ucallyomama who wrote msg# 46
Date:8/31/2007 4:41:44 PM
Post #of 222

They're also suing Merrill Lynch and Suntrust Robinson. Trial begins early next year..........z


Posted by: zardiw
In reply to: monda2frida who wrote msg# 1809
Date:3/14/2008 11:15:16 AM
Post #of 1873

FRAE is suing Merril Lynch and SunTrust/Robinson. Case will be in court in April..........z

Auth 75/OS 21, Used to be $26/share,

New Case #00-68372 Judge Joyce Bih

Trustee: Morton Levine, 404 231-4567, mlevine@lbslaw.net, he's the CEO/President/Treasurer/BottleWasher. Owns it all.
Amenable to R/M

Got a few mil in the bank.

2 lawsuits. Suing Merril Lynch, and Suntrust/Robinson







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