by John Darer CLU ChFC MSSC CeFT RSP CLTC
There was a veritable flood of information disclosed today in the Center for Special Needs Trust
Administration Chapter 11 Bankruptcy
However, there was no information about Boston Financial Group’s actual use or intended use of the money. On May 3, 2024, the Bankruptcy Trustee served a subpoena for the records, files, etc., on Boston Asset and Boston Financial.
But Leo J. Govoni PERSONALLY guaranteed the loan!
The Trustee in Bankruptcy has alleged in a comprehensive Complaint filed against Boston Financial Group an outstanding indebtedness to the debtor (Center for Special Needs Trust Adminstration) of $142,000,000 (Principal of $100MM and accrued interest of approximately $42MM), with a personal guarantee by Leo J.Govoni.
Source: Epiq website tracking the case

