(513) 307-3077
June 29, 2014
On December 20, 2013, Licking County Court of Common Pleas Judge W. David Branstool appointed Peter M. Lahni, Jr., Lahni Consulting LLC as substitute receiver for Excel Academy, Inc. et al. in Newark, OH. The court originally appointed a receiver that was conflicted out several weeks after the appointment. The property is located at 116 W. Church St., Newark, OH and was a former Charter School. The Charter School left all of the student files in the building. The City of Newark Department of Education took all of the student records pertaining to grades, they left all of the medical records. The receiver petitioned the court to authorize the destruction of the medical records. On June 10th, the receiver in cooperation with Cintas picked up and shredded the docuemnts. Cintas provided the receiver with a letter of destruction.
Prior to the appointment of the receiver, several interested parties had contacted the lender. Upon the appointment, the receiver contacted the prospects. Original offers started at $200,000 pre-receivership. The receiver negotiated with the prospects with a final price of $340,000. The property was closed on Friday June 13, 2014.
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