UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

WEST PALM BEACH DIVISION

TRUSTEE¶S FINAL REPORT (TFR)

The undersigned trustee hereby makes this Final Report and states as follows:

$SHWLWLRQXQGHU&KDSWHU7 of the United States Bankruptcy Code was filed on 08/31/2021

The undersigned trustee was appointed on 08/31/2021.

7KHWUXVWHHIDLWKIXOO\DQGSURSHUO\IXOILOOHGWKHGXWLHVHQXPHUDWHGLQ86&

$OOVFKHGXOHGDQGNQRZQDVVHWVRIWKHHVWDWHKDYHEHHQUHGXFHGWRFDVKUHOHDVHGWRWKHGHEWRU

DVH[HPSWSURSHUW\SXUVXDQWWR86&RUKDYHEHHQRUZLOOEHDEDQGRQHGSXUVXDQWWR86&

$QLQGLYLGXDOHVWDWHSURSHUW\UHFRUGDQGUHSRUWVKRZLQJWKHGLVSRVLWLRQRIDOOSURSHUW\RIWKHHVWDWH

is attached as Exhibit A.

7KHWUXVWHHUHDOL]HGWKHJURVVUHFHLSWVRI $ 252,183.32

Funds were disbursed in the following amounts:

Payments made under an

LQWHULPGLVWULEXWLRQ 0.00

Administrative expenses 87,500.00

Bank service fees 680.93

Other payments to creditors 0.00

Non-estate funds paid to 3rd Parties 0.00

Exemption paid to the debtor 0.00

Other payments to the debtor 0.00

Leaving a balance on hand of ï $ 164,002.39

The remaining funds are available for distribution.

$WWDFKHGDVExhibit B is a cash receipts and disbursements record for each estate bank 

account.

ï 7KHEDODQFHRIIXQGVRQKDQGLQWKHHVWDWHPD\FRQWLQXHWRHDUQLQWHUHVWXQWLOGLVEXUVHG7KHLQWHUHVW

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account of the disbursement of the additional interest.

In re:

Debtor(s)

NITV LLC &DVH1R21-18481-MAM 

 





UST Form 101-7-TFR (05/1/2011)

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 1 of 9
7KHGHDGOLQHIRUILOLQJQRQJRYHUQPHQWDOFODLPVLQWKLVFDVHZDV11/10/2021 and the deadline 

for filing governmental claims was 02/27/2022$OOFODLPVRIHDFKFODVVZKLFKZLOOUHFHLYHDGLVWULEXWLRQ

KDYHEHHQH[DPLQHGDQGDQ\REMHFWLRQVWRWKHDOORZDQFHRIFODLPVKDYHEHHQUHVROYHG,IDSSOLFDEOHD

claims analysis, explaining why payment on any claim is not being made, is attached as Exhibit C.

7KH7UXVWHH¶s proposed distribution is attached as Exhibit D.

3XUVXDQWWR86&DWKHPD[LPXPFRPSHQVDWLRQDOORZDEOHWRWKHWUXVWHHLV

$15,859.177RWKHH[WHQWWKDWDGGLWLRQDOLQWHUHVWLVHDUQHGEHIRUHFDVHFORVLQJWKHPD[LPXP

compensation may increase.

The trustee has received $0.00 as interim compensation and now requests the sum of $15,859.17, 

for a total compensation of $15,859.17.ð ,QDGGLWLRQWKHWUXVWHHUHFHLYHGUHLPEXUVHPHQWIRUUHDVRQDEOH

and necessary expenses in the amount of $0.00 and now requests reimbursement for expenses of $122.88, 

for total expenses of $122.88.ð

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the foregoing 

report is true and correct.

Date: 01/27/2023 By: /s/ Michael R. Bakst, Trustee

Trustee

STATEMENT: This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork Reduction 

$FWH[HPSWLRQ&)5DDSSOLHV

ð If the estate is administratively insolvent, the dollar amounts reflected in this paragraph

may be higher than the amounts listed in the Trustee¶s Proposed Distribution (Exhibit D)

UST Form 101-7-TFR (05/1/2011)

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 2 of 9
Case Number:

Case Name:

Period Ending:

21-18481 MAM 

NITV LLC

01/27/23

Michael R. Bakst, Trustee

08/31/21 (f)

10/07/21

11/10/21

Trustee:

Filed (f) or Converted (c):

D0HHWLQJ'DWH

Claims Bar Date:

Ref #

1

Asset Description

(Scheduled And Unscheduled (u) Property)

2

Petition/

Unscheduled

Values

3

Estimated Net Value

(Value Determined By Trustee,

Less Liens, Exemptions,

and Other Costs)

4

Property

Abandoned

2$ D$EDQGRQ

5

Sale/Funds

Received by

the Estate

6

Asset Fully

Administered (FA)/

Gross Value of

Remaining Assets

1 PNC BANK BUSINESS CHECKING 7984 1,183.00 1,183.32 1,183.32 FA 

2 UNUSED RETAINER TURNED OVER TO TRUSTEE FROM 

ADVISOR LAW (u) 

1,000.00 1,000.00 1,000.00 FA 

3 SETTLEMENT AGREEMENT BETWEEN MICHAEL BAKST, 

TRUSTEE & DEBTOR NITV, LLC (u) 

PAY'T PER C.O. DATED 10-25-22--ECF#49

STATE COURT ACTION: ELWOOD GARY BAKER v. NITV 

FEDERAL SERVICES, LLC, LOURDES IRMIA, CHARLES 

HUMBLE ADV. CASE #22-01092

250,000.00 250,000.00 250,000.00 FA 

TOTALS (Excluding Unknown Values) $252,183.00 $252,183.32 $252,183.32 $0.00

Major activities affecting case closing:

CBD: 11-10-2021; OBJ. TO POC#1 FIED 12-14-22--ECF#54.

TAX RETURN STATUS: SINGLE MEMBER LLC (SCHEDULE C). NO TAX FILING REQUIRED BY THE ESTATE

Initial Projected Date of Final Report (TFR): December 31, 2024 Current Projected Date of Final Report (TFR): December 31, 2024

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Exhibit A

Page: 1

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 3 of 9
Case Number: 21-18481 MAM Trustee: Michael R. Bakst, Trustee

Case Name: NITV LLC Bank Name: Signature Bank

Account: ******2174 - Checking

Taxpayer ID#: **-***1279 Blanket Bond: $46,061,000.00 (per case limit)

Period Ending: 01/27/23 Separate Bond: N/A

1

Trans.

Date

2

Check or

Ref. #

3

Paid To / Received From

4

Description of Transaction

Uniform

Tran. Code

5

Receipts

$

 6

Disbursements

$

7

Checking

Account Balance

10/05/21 Asset #1 NITV, LLC FUNDS FROM PNC BANK ACCOUNT 1129-000 1,183.32 1,183.32

10/29/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,178.32

11/30/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,173.32

12/31/21 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,168.32

01/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,163.32

02/28/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,158.32

03/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 1,153.32

04/19/22 Asset #2 ADVISOR LAW UNUSED RETAINER TURNED OVER TO 

TRUSTEE FROM ADVISOR LAW.

1290-000 1,000.00 2,153.32

04/29/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,148.32

05/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,143.32

06/30/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,138.32

07/29/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,133.32

08/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,128.32

09/30/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,123.32

10/31/22 Signature Bank Bank and Technology Services Fee 2600-000 5.00 2,118.32

Form 2

Cash Receipts and Disbursements Record

Exhibit B

Page: 1

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 4 of 9
Case Number: 21-18481 MAM Trustee: Michael R. Bakst, Trustee

Case Name: NITV LLC Bank Name: Signature Bank

Account: ******2174 - Checking

Taxpayer ID#: **-***1279 Blanket Bond: $46,061,000.00 (per case limit)

Period Ending: 01/27/23 Separate Bond: N/A

1

Trans.

Date

2

Check or

Ref. #

3

Paid To / Received From

4

Description of Transaction

Uniform

Tran. Code

5

Receipts

$

 6

Disbursements

$

7

Checking

Account Balance

11/15/22 Asset #3 NITV FERDERAL SERVICES PAY'T PER C.O. DATED 10-25-22--ECF#49 1249-000 250,000.00 252,118.32

11/30/22 Signature Bank Bank and Technology Services Fee 2600-000 206.57 251,911.75

12/14/22 1001 ZAPPOLO & FARWELL, P.A. PAY'T PER C.O. DATED 10-25-22--ECF#49 3210-000 87,500.00 164,411.75

12/30/22 Signature Bank Bank and Technology Services Fee 2600-000 409.36 164,002.39

ACCOUNT TOTALS

Less: Bank Transfers

252,183.32

0.00

88,180.93

0.00

$164,002.39

Subtotal

Less: Payment to Debtors

252,183.32 88,180.93

0.00

NET Receipts / Disbursements $252,183.32 $88,180.93

TOTAL - ALL ACCOUNTS

Net

Receipts

Net

Disbursements

Account

Balances

Checking # ******2174 252,183.32 88,180.93 164,002.39

$252,183.32 $88,180.93 $164,002.39

Net Receipts: $252,183.32

Net Estate: $252,183.32

Form 2

Cash Receipts and Disbursements Record

Exhibit B

Page: 2

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 5 of 9
Exhibit C

Claims Register

Case: 21-18481-MAM NITV LLC

Total Proposed Payment: $164,002.39 Claims Bar Date: 11/10/21

Claim

Number

Claimant Name /

Category, Priority

Claim Type /

Date Filed

Claim Ref. /

Notes

Amount Filed /

Allowed

Paid to Date / 

Proposed

Claim

Balance

Michael R. Bakst, Trustee Admin Ch. 7 $15,859.17 $0.00 $15,859.17

P.O. BOX 407 11/21/21 $15,859.17 $15,859.17

West Palm Beach, FL 33402

2100-00 Trustee Compensation, 200

GREENSPOON MARDER, LLP Admin Ch. 7 $32,983.50 $0.00 $32,983.50

525 OKEECHOBEE BLVD, SUITE 

900

01/20/23 29511.0595 $32,983.50 $32,983.50

WEST PALM BEACH, FL 33401 ECF#57

3110-00 Attorney for Trustee Fees (Trustee Firm), 200

GREENSPOON MARDER, LLP Admin Ch. 7 $25.97 $0.00 $25.97

525 OKEECHOBEE BLVD, SUITE 

900

01/20/23 29511.0595 $25.97 $25.97

WEST PALM BEACH, FL 33401 ECF#57

3120-00 Attorney for Trustee Expenses (Trustee Firm), 100

Michael R. Bakst, Trustee Admin Ch. 7 $122.88 $0.00 $122.88

P.O. BOX 407 01/22/23 $122.88 $122.88

West Palm Beach, FL 33402

2200-00 Trustee Expenses, 100

1 Brinkley Morgan Unsecured $327,398.49 $0.00 $0.00

Mark A. Levy

100 SE Third Avenue, 23rd Floor

11/08/21 $0.00 $0.00

Fort Lauderdale, FL 33394 DISALLOWED PER C.O. DATED 1-18-2023--ECF#56

7100-00 *HQHUDO8QVHFXUHGD, 610

2-2 Elwood Gary Baker Unsecured $464,310.52 $0.00 $464,310.52

661 Paddock Club Dr 11/09/21 $464,310.52 $115,010.87

Panama City Beach, FL 32407-

2466

AMENDED CLAIM #2-2 ON 1-27-2023

7100-00 *HQHUDO8QVHFXUHGD, 610

Case Total: $513,302.04 $0.00 $513,302.04

Printed: 01/27/23 Page: 1 Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 6 of 9
TRUSTEE¶S PROPOSED DISTRIBUTION

Exhibit D

Case No.: 21-18481-MAM 

Case Name: NITV LLC

Trustee Name: Michael R. Bakst, Trustee

Balance on hand: $ 164,002.39

Claims of secured creditors will be paid as follows:

Claim

No. Claimant

Claim

Asserted

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

Application for chapter 7 fees and administrative expenses have been filed as follows:

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

Trustee, Fees - Michael R. Bakst, Trustee 15,859.17 0.00 15,859.17

Trustee, Expenses - Michael R. Bakst, Trustee 122.88 0.00 122.88

Attorney for Trustee, Fees - GREENSPOON MARDER, LLP 32,983.50 0.00 32,983.50

Attorney for Trustee, Expenses - GREENSPOON MARDER, 

LLP

25.97 0.00 25.97

Application for prior chapter fees and administrative expenses have been filed as follows:

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

In addition to the expenses of administration listed above as may be allowed by the

Court, priority claims totaling $0.00 must be paid in advance of any dividend to

general (unsecured) creditors.

Allowed priority claims are:

Claim

No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

NONE

Total to be paid to secured creditors: $ 0.00

Remaining balance: $ 164,002.39

Total to be paid for chapter 7 administration expenses: $ 48,991.52

Remaining balance: $ 115,010.87

NONE

Total to be paid for prior chapter administration expenses: $ 0.00

Remaining balance: $ 115,010.87

NONE

UST Form 101-7-TFR (05/1/2011)

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 7 of 9
The actual distribution to wage claimants included above, if any, will be the proposed

payment less applicable withholding taxes (which will be remitted to the appropriate taxing

authorities).

Timely claims of general (unsecured) creditors totaling $464,310.52 have been allowed and

will be paid pro rata only after all allowed administrative and priority claims have been paid in full.

The timely allowed general (unsecured) dividend is anticipated to be 24.770 percent,

plus interest (if applicable).

Timely allowed general (unsecured) claims are as follows:

Claim

No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

1 Brinkley Morgan 0.00 0.00 0.00

2-2 Elwood Gary Baker 464,310.52 0.00 115,010.87

Tardily filed claims of general (unsecured) creditors totaling $0.00 have been

allowed and will be paid pro rata only after all allowed administrative, priority and timely filed

JHQHUDOXQVHFXUHGFODLPVKDYHEHHQSDLGLQIXOO7KHWDUGLO\ILOHGFODLPVGLYLGHQGLVDQWLFLSDWHG

to be 0.0 percent, plus interest (if applicable).

Tardily filed general (unsecured) claims are as follows:

Claim

No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims

RUGHUHGVXERUGLQDWHGE\WKH&RXUWWRWDOLQJ0.00 have been allowed and will be paid

pro rata only after all allowed administrative, priority and general (unsecured) claims have been paid

LQIXOO7KHGLYLGHQGIRUVXERUGLQDWHGXQVHFXUHGFODLPVLVDQWLFLSDWHGWREH0.0 percent,

plus interest (if applicable).

Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims

ordered subordinated by the Court are as follows:

Claim

No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

Total to be paid for priority claims: $ 0.00

Remaining balance: $ 115,010.87

Total to be paid for timely general unsecured claims: $ 115,010.87

Remaining balance: $ 0.00

NONE

Total to be paid for tardy general unsecured claims: $ 0.00

Remaining balance: $ 0.00

NONE

UST Form 101-7-TFR (05/1/2011)

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 8 of 9
Total to be paid for subordinated claims: $ 0.00

Remaining balance: $ 0.00

UST Form 101-7-TFR (05/1/2011)

Case 21-18481-MAM Doc 60 Filed 01/31/23 Page 9 of 9