Compiled from public court filings and dockets. Allegations described here are allegations recorded in those filings, not findings of fact, unless the filing itself records a court finding. Corrections are welcome via the corrections page.
12Five Capital LLC financed boat manufacturer Aquaform Watercraft LLC (~$3.77M advanced; purchase orders and a first-priority security interest assigned), then sued IMG Marine LLC and Steven Ivankovich for conversion and tortious interference — alleging the collateral (boats and parts) was dispersed to Florida and Dubai. A $2,685,250 default judgment entered in Leelanau County MI (23-11132-CB, Judge Hamlyn) was reversed on appeal 3/10/2026 (Mich. Ct. App. No. 371165 — no certificate of mailing on the default/default-judgment notices, MCR 2.603 due-process defect; remanded). The judgment was domesticated in Florida (Miami-Dade 2024-14225-CA01, recorded 7/31/2024) and is separately under attack there — IMG Marine's Motion to Vacate Foreign Judgment, Monroe County 2025-CA-634-AK (served 4/9/2026). Recovery coordinated via Tom Price / Radiance Capital Receivables Twenty Two LLC with Joe Seinitz and Troy Testa; SYG serves as Substitute Custodian for the IMG fleet.