In re B. L. Jennings, Inc.

Full title: In re: B. L. JENNINGS, INC., et al. All cases jointly administered under…

Court: United States Bankruptcy Court, M.D. Florida, Jacksonville Division

Date published: Jun 12, 2007

CASE NO. 03-4928-3F1 through 03-4937-3F1, ADV. NO. 03-203, ADV. NO. 03-345, ADV. NO. 03-473, ADV. NO. 04-107 (Bankr. M.D. Fla. Jun. 12, 2007)

Opinion

CASE NO. 03-4928-3F1 through 03-4937-3F1, ADV. NO. 03-203, ADV. NO. 03-345, ADV. NO. 03-473, ADV. NO. 04-107.

June 12, 2007

JUDGMENT

JERRY FUNK, Bankruptcy Judge

These proceedings came before the Court for a trial. Upon Findings of Fact and Conclusions of Law separately entered, it is

ADJUDGED:

Adversary Proceeding 03-203 and 03-473

1. RKB Investments is a general partnership, the general partners of which are the Kimberly Jennings California Trust (at all times), the Bradley Jennings California Trust (at all times), and the Rhonda Jennings California Trust (prior to June, 1992). The Kimberly Jennings California Trust, the Bradley Jennings California Trust, and the Rhonda Jennings California Trust are adjudged to be jointly and severally liable for debts and liabilities of RKB Investments during their respective tenures as general partners.

2. RKB Investments, the Kimberly Jennings California Trust, and the Bradley Jennings California Trust are adjudged to be the alter egos of Bruce Lee Jennings and are jointly and severally liable for allowed claims against Bruce Jennings' bankruptcy estate.¹ The Kimberly Jennings Nevada Trust, the Rhonda Jennings Nevada Trust, and the Bradley Jennings Nevada Trust are not joint venturers, along with Bruce Lee Jennings, B.L. Jennings, Inc., and Bryco Arms in the design and production of firearms under the Bryco/Jennings names and are not liable for claims arising from any Bryco/Jennings firearms.

Adversary Proceeding 03-345 and 03-473

1 While the Rhonda D. Jennings California trust was Bruce Jennings' alter ego, it was dissolved in June, 1992 prior to any indebtedness of Bruce Jennings, which existed on the date of the filing of his bankruptcy petition.

3. Janice Jennings was a joint venturer at all relevant times, along with

Bruce Lee Jennings, B.L. Jennings, Inc., and Bryco Arms in the design and production of firearms under the Bryco/Jennings names and as such is jointly and severally liable for claims arising from Bryco/Jennings firearms designed and/or produced during her tenure.

Adversary Proceeding 04-107

4. RKB Investments, the Kimberly Jennings California Trust, and the Bradley Jennings California Trust are adjudged to be jointly and severally liable to the creditors and bankruptcy estate of Bruce Lee Jennings for actual damages caused by fraud under the California Uniform Fraudulent Transfers Act, resulting in the diminution in value of Bruce Lee Jennings' bankruptcy estate in the amount of $3,900,000.00. Janice Jennings is adjudged to be jointly and severally liable for actual damages caused by her participation in a fraudulent conspiracy resulting in the diminution in value of Bruce Lee Jennings' bankruptcy estate in the amount of $3,900,000.00.