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#22 Jan 3, 2011
most significant is a lawsuit in 2007 alleging fraud, brought on behalf of Turner Construction (Paul Sr, Paul Jr and Daniel are named in the petition). This dates back to 2003 and a ruling in favor of Turner in 2005  concerning the original OC Iron Works company. It is alleged that assets were stripped from the OC Ironworks. Transferring the viable assets, contracts and personnel to a new company OC Ironworks LLC, before bankrupting the former. OC Ironworks LLC is owned entirely by Daniel Teutul (a third son). This involved transferring the ownership to Paul Jr and selling the assets with unfair compensation to the new company. Trustee Tom Genova filed compliant with Bankruptcy Court and sought to have the transfers from the old company to the new company judged fraudulent and set aside. He also sought to make the new company liable for the old company's debts. A settlement was reached between Orange County Ironworks LLC and Tom Genova with Orange Country Ironworks LLC agreeing to pay out $500,000. Paul Sr. has filed a lawsuit against Paul Jr. to force him to sell his share of OCC as per an agreement. The suit also includes a claim for $1 million for damages for misappropriation of assets and "competitive business activities."
---- peel back the BS and see this little DiTTy- Horse Head really is in a FOG-
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