Renegade Tobacco owner misused funds, examiner says

(Winston-Salem Journal) Calvin Phelps, the owner of Renegade Holdings Tobacco Co*., made a fraudulent transfer of $8.1 million in assets, which he used to help buy Chinqua-Penn Plantation, two corporate jets, cigar-manufacturing equipment and a 2008 Maserati Quattroporte, the examiner for Renegade’s bankruptcy says in a lawsuit.
The future of Chinqua-Penn, a historic 1920s mansion in Reids­ville, could be in the hands of a bankruptcy estate if a judge approves the examiner’s request to create a trust for the plantation and its arts and artifacts or to transfer its ownership to the debtors in Renegade’s Chapter 11 bankruptcy.
The suit was filed against Phelps, his wife, Lisa Yamaoka, and 13 limited liability companies, including Chinqua-Penn, that Phelps owns or controls.
Filing the suit was Gene Tarr, the bankruptcy examiner for three companies that Phelps also owns — Renegade Holdings Inc., Alternative Brands Inc. and Renegade Tobacco Co. Continued

*Tobacco fans may remember that Renegade bought the House of Windsor company, located in Yoe, Pennsylvania, a few years back. Windsor manufactured old favorites such as Barking Dog, Field & Stream, Mapleton, and Union Leader pipe tobacco. They also made Wolf Brothers Rum Crook cigars.