JUST THE FACTS, MAN! INDEPENDENT BANK SEEKS “SUMMARY JUDGMENT” AGAINST “NOSS DEFENDANTS” IN FULL SPECTRUM MANAGEMENT, LLC BANKRUPTCY ADVERSARY CASE

“Since Dr. Noss was FSM’s sole member and manager, he had complete control over the Debtor’s business operations. He also had complete control over his other companies, MDN and Full Spectrum Eyecare. In that position of power, Dr. Noss proceeded to combine the Debtor’s business operations with his other companies and his own personal accounts. Indeed, as is clearly demonstrated below by the sworn testimony of Dr. Noss himself, without a shadow of a doubt these entities were mere instrumentalities of one another, with the legal separation between
Dr. Noss and his business entities being completely ignored. He readily transferred funds between the Debtor and MDN and Full Spectrum Eyecare without any documentation whatsoever and without any regard to the corporate forms of those entities. Dr. Noss used FSM’s assets to fund the expenses of both MDN and Full Spectrum Eyecare and his personal expenses and family’s lifestyle, and he readily commingled monies and freely migrated funds between bank accounts in complete disregard of corporate structures or formalities.”

“With respect to each of these bankruptcy claims, Dr. Noss has admitted that he “created” these amounts, more than 18 months after FSM was terminated by GTA and just prior to FSM filing its bankruptcy petition, in an effort to try and claim setoffs for the monies he knew he owed to FSM and its creditors for money he had taken to fund his other entities and personal lifestyle. Dr. Noss on behalf of both Full Spectrum Eyecare and MDN has admitted that neither he nor any
of his sole member entities has any documentation whatsoever that evidences that FSM owes any monies to any of the Noss Defendants.”