Gerard A. (“Jerry”) McHale, Jr. appointed Receiver of Trans Continental Airlines, Inc., et al by the Circuit Court of Florida in the case of State of Florida, Office of Financial Regulation v. Trans Continental Airlines, Inc., et al.

Seizure of Trans Continental Airlines Inc., documents by several governmental agencies (including the FBI, IRS, FDIC and the Florida Department of Financial Regulation.)

Four major creditors seek the appointment of a Chapter 11 Trustee for Louis J. Pearlman and Trans Continental Airlines, Inc., by filing involuntary bankruptcies.

Soneet R. Kapila appointed Chapter 11 Trustee of the bankruptcy estates of Louis J. Pearlman and Trans Continental Airlines, Inc, in the United States Bankruptcy Court, Middle District of Florida, Orlando Division.

Soneet Kapila and his team of professionals begin investigations into the massive and complex tangled web of entities and transactions.

341 Meeting – First Meeting of Creditors was held at the U. S. Bankruptcy Court in Orlando.  The U.S. Trustee and Soneet Kapila, Bankruptcy Trustee provided the creditors attending the meeting with a status of the case administration and answered creditors questions.

Trans Continental Studios, Inc., and Louis J. Pearlman Enterprises, Inc., file Chapter 11.

An Involuntary Petition was filed in the case of Trans Continental Records, Inc.

Trans Continental Records, Inc., was converted to Chapter 11.

Soneet R. Kapila appointed Chapter 11 Trustee in the Trans Continental Records, Inc., case.