Richland School District, former and current Galleria owners dispute tax refund in court
Presiding over the dispute is Cambria County Senior Judge Patrick Kiniry, whose decision could either lead the parties to the table or spur more lawsuits among them.
At the center of the dispute is a court-ordered $143,000 school tax refund paid in full by Richland School District to Adar Johnstown LLC, the Florida-based company that formerly owned the Richland Township mall.
Current Galleria owner Leo Karruli said he is owed a portion of that tax refund, which instead has been fully received by the former owner.
Commercial property tax assessment appeals and refunds have become 'rampant' in Richland School District over the past 12 years, district Solicitor Tim Leventry said after a hearing Wednesday before Kiniry at the Cambria County Courthouse in Ebensburg.
Relaying information from Richland School District's business manager, he said the amount of taxes that are being collected for 2024 versus for 2013 is a difference of more than $2 million per year. In other words, he said, the assessed values of properties in the township were reduced through tax assessment appeals, costing the school district $2,278,000 per year when compared to 2013.
The possibility of having to pay out any amount more on a tax appeal already paid in full would elicit a lawsuit against Adar, he said.
The tax refund in question stems from a tax assessment appeal initiated by Adar after the mall went into mortgage foreclosure in 2021. Adar's mortage lenders foreclosed on the mall and discharged it in 2022 to a new buyer, Karruli, who has since spent his own money for mall repairs and giving generous deals to tenants in an effort to rebuild the mall.
The closing agreement for the mall included Karruli's reimbursement to Adar for more than 90 days of school, county and township taxes from Sept. 30 to Dec. 31, 2022.
The sale of the Galleria, including Karruli's prorated taxes, was completed prior to the Cambria County court-ordered tax refund.
Richland School District was ordered in 2023 to pay back $143,000 it collected in taxes from Adar. Karruli claims a portion of that refund, $36,000, is owed to him for the prorated taxes he paid in the closing agreement for the mall. Reluctantly, Karruli said, he filed a lawsuit against the school district seeking to gain the funds he believes he is owed.
'I don't need it for me,' he said in interviews prior to the Wednesday hearing. 'I can do a lot with that for the people here in Johnstown.'
Although Karruli's lawsuit was served to the school district, Leventry said a refund is owed by Adar back to Karruli. The school district was not aware of the closing agreement involving Karruli's portion of taxes at the time the court ordered a tax refund, he said.
Further, after an examination of the closing agreement, Leventry said the taxes paid by Karruli were prorated for the calendar year – the way county and township taxes are collected – but school district taxes are collected on a fiscal-year basis, so he maintains Adar owes Karruli $7,200 and not $36,000.
Karruli's attorney, John Kalenish, doubled down on the $36,000 figure.
'We are entitled to $36,000 plus interest,' he said.
Attorney Sharon DiPaolo, of the Siegel Jennings law firm, represented Adar during the tax appeal that Adar initially filed in 2021. Participating in the hearing by telephone Wednesday, she argued that the matter is closed from Adar's perspective. She said that Adar owes nothing and that her contract with Adar has ended.
'The school district violated the court order, and it would not be a simple matter to unwind this,' she said.
DiPaolo said if the court orders Adar to pay, then the company's former mortgage lenders, Wells Fargo, would have to pay back the money because Adar relinquished the mall in foreclosure.
Leventry said he does not know with certainty that Adar transferred the tax refund to Wells Fargo.
'The school district paid the settlement to Adar,' he said.
Leventry said if Adar will not pay, the school district will be forced to file against Adar because it was overpaid.
'They received the entire $143,000, which they should not have,' he said.
DiPaolo said she is not invested in what Wells Fargo received from Adar and Adar is not party to the dispute.
'The school district only needed to follow the court order as the county and township taxing bodies did,' she said. 'I don't know if it's $7,200 or $36,000 (owed to Karruli) but attorneys' fees, if this continues, will outstrip all of that.'
Kiniry recessed the case Wednesday and said he would 'issue a decision – a decision which may result in another hearing.'
After the hearing, Leventry said if the court orders the district to pay, then it will file an action against Adar because the company was paid the money and had an obligation to return it.
'No matter what their argument is, they owe money back in some amount,' he said.
Leventry said repeated electronic and phone communication with Adar for the past few months leading up to the hearing had gone unanswered.
'A mountain is being made out of a molehill because if Adar had just came to the table three months ago and said, 'Yes, we received all this money and shouldn't have gotten it all and we'll agree to pay this back,' then we wouldn't be here,' he said. 'But they refuse to acknowledge. They won't even communicate. So it's understandable that Karruli is making his claim. But at the end of the day, Adar is the one that really received the money and hasn't paid it back.'
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We believe they provide useful information to our investors as they eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. In addition, we use them as an integral part of our internal reporting to measure the performance and operating strength of our business. We believe adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted earnings per share, adjusted gross profit, adjusted gross margin, and FCF are relevant and provide useful information frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours and are indicators of the operational strength of our business. We believe adjusted EBITDA eliminates the uneven effect of considerable amounts of non-cash depreciation and amortization, share-based compensation expense and the impact of other non-recurring items, providing useful comparisons versus prior periods or forecasts. Adjusted EBITDA margin is calculated as adjusted EBITDA as a percentage of revenue. We believe adjusted net income provides additional means of evaluating period-over-period operating performance by eliminating certain non-cash expenses and other items that might otherwise make comparisons of our ongoing business with prior periods more difficult and obscure trends in ongoing operations. Adjusted net income is a non-GAAP financial measure equal to net income, adjusted to exclude share-based compensation expense and amortization of share-based compensation capitalized in intangible assets, and to include the tax effect of adjustments. 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Adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue. We believe FCF is an important liquidity measure of the cash that is available, after capital expenditures, for operational expenses and investment in our business. FCF is a measure used by management to understand and evaluate the business's operating performance and trends over time. FCF is calculated by using net cash provided by operating activities, less purchase of property and equipment, and capitalized costs included in intangible assets. Adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted earnings per share, adjusted gross profit, adjusted gross margin, and FCF are not intended to be performance measures that should be regarded as an alternative to, or more meaningful than, financial measures presented in accordance with US GAAP. 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The Company also announces the appointment of Michael Gheyle to the Board of Directors, replacing Amanda Sorsak, who has stepped down. Kiboko thanks Ms. Sorsak for her valuable contributions and dedicated service. Mr. Gheyle brings more than 30 years of experience in international capital markets, including wealth management, derivative trading, corporate finance, institutional sales, M&A, venture capital, and private equity. He has supported companies across a wide range of industries in raising more than $100 million and has held executive, board, and advisory roles with numerous public and private companies. Most recently, he served as CEO and Chairman of Discovery Lithium Corp. He currently sits on the boards of Oyama Capital Corp. and Naked Revival Inc., and advises Solo Automotive Inc., IdBase Technologies Inc., Ameriwest Lithium Inc., and Nova Pacific Metals Corp. These leadership and governance changes reflect the Company's commitment to advancing its exploration assets, positioning the business for long-term growth, and maximizing shareholder value. Additional information about Kiboko can be found on SEDAR+ at and on the Company's website at About Kiboko Gold Inc. Kiboko is a Canadian-based exploration company focussed on advancing its Harricana Gold Project, located 55 km north of Val-d'Or, Québec, within the world-renowned southern Abitibi gold belt. Kiboko's shares trade on the TSX Venture Exchange under the symbol 'KIB'. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Statements This news release includes certain 'forward-looking statements' which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition, belief, estimate or opinion, or result to occur. Forward looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'interpreted', 'pending', 'suggests', 'preliminary', 'estimates', 'confident', 'may', 'aims', 'targets', 'could', 'would', 'will', or 'plans' and similar expressions, or that events or conditions 'will, 'would', 'may', 'can', 'could' or 'should' occur, or are those statements, which, by their nature, refer to future events. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based upon information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. Forward looking information in this news release may include, references to potential management changes, board composition, strategic reviews, or limited ongoing corporate or project activities. These statements reflect current expectations based upon information available to management as of the date hereof and are subject to a number of known and unknown risks, uncertainties, and assumptions. Given the Company's current stage and limited operational activity, there can be no assurance that any forward-looking statement will prove accurate, or that future developments will occur in the manner or timeframe anticipated. Actual results and developments may differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, limited financial resources, potential inability to secure additional financing, market conditions, limited exploration activity, regulatory risks, commodity price fluctuations, and other risks described in the Company's public filings on SEDAR+ ( Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by applicable securities laws. All amounts are in Canadian dollars, unless otherwise stated.
