SIST Creditors Can Move Forward With Lawsuits After Federal Appeal Dismissed

By: Mikel Lauber Email
By: Mikel Lauber Email

The controversial Shawano group, the Samanta Roy Institute of Science and Technology, is no longer under the protection of U.S. Bankruptcy court.

The group, which owns various businesses and properties in the Shawano area, filed for bankruptcy protection last March. Court records showed they had more than 22 million dollars in liabilities, and several of their properties had been foreclosed on.

They were protected under their bankruptcy filing until September, when a bankruptcy judge dismissed their case, saying they exercised a 'gross mismanagement' and 'lack of candor' in their financial negotiations.

SIST appealed that decision in October, and had been protected under that appeal until Monday, when the original decision dismissing the case was upheld.

The decision means businesses which are owed money by SIST can move forward with legal actions, and a lawsuit for defamation against the group filed by Shawano Mayor Lorna Marquardt can move forward.

You can see our Edward R. Murrow Award-winning series about the group in our 'Secrets in Shawano' section here.  

Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to
Please provide detailed information.
All comments must adhere to the discussion rules.

powered by Disqus
WSAW-TV 1114 Grand Ave. Wausau, WI 54403
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 94873784 -
Gray Television, Inc.