Clients Ask Judge to Place S.F. Tax Firm in Involuntary Bankruptcy
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SAN FRANCISCO — Three major clients of Hamilton Taft & Co. have asked a federal judge to place the San Francisco-based tax firm in involuntary bankruptcy.
Federal Express Corp., the board of trustees of Stanford University and Stanford University Hospital filed a joint petition in U.S. Bankruptcy Court in San Francisco. The clients allege that they were defrauded of $34 million.
“It seems to us a dire situation that requires a drastic remedy,” Susan Hoerger, a lawyer for Stanford, said.
The petition asks that Hamilton Taft be placed in involuntary bankruptcy and that the court appoint an outside trustee for the firm.
Federal Express and Stanford are two of several Hamilton Taft clients that filed multimillion-dollar lawsuits against the tax payroll firm and its owner Connie (Chip) Armstrong this week.
The suits, filed in federal court in San Francisco, claim that Armstrong and his company looted Hamilton Taft’s assets and delayed or failed to make clients’ tax payments to the government.
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