Olympus Pools owner claims his company owns stake in former business partners company – WFLA

Posted: October 21, 2021 at 10:47 pm

TAMPA, Fla. (WFLA) New filings in the personal bankruptcy case involving the owner ofOlympus Pools, James Staten, and his wife, say Olympus owns a 5% stake in Staycation Pools and Spas, another pool business owned by Statens one-time business partner, Jordan Hidalgo.

Olympus Poolsshutteredin July after a series of investigative reports byBetter Call Behnken.

The new filing, which details claims against the Statens as well as their assets, says Olympus Pools has a 5% Interest in Staycations Pools and Spas valued at approximately $500,000.

Better Call Behnken reached Hidalgo by phone for comment. Hidalgo confirmed he and Staten had signed an agreement for Staten to have a 5% stake in Staycation, but contends the agreement is no longer valid.

According to their court filing, the Statens claim Staycation Pools and Spas is estimated to have a valuation of $10 million.

I would sell my company today for a tenth of that stated value, Hidalgo told Better Call Behnken in a brief phone interview.

The filing shows the Statens owe creditors a total of $5,875,689.31. The couple has a combined monthly income of $7,811, but their monthly expenses total $11,997.03, court records state. A court approved monthly budget allows them to spend $10,874 on expenses.

The document also states their real estate holdings, including their personal home and the office building for Olympus, are valued at $5,525,000. Their personal property is worth $229,993, bringing the total of all their properties to $5,754,933.

The Statens filed for Chapter 11 personal bankruptcy on Oct. 6. The next hearing in their bankruptcy case is currently scheduled for Tues., Oct. 26.

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Olympus Pools owner claims his company owns stake in former business partners company - WFLA

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