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A Carmel man who built a business around Mini Thin dietary supplements has agreed to pay $1 million in his company's bankruptcy case.
The money, or what remains after attorneys take their fees, will go to creditors of Body Dynamics Inc., the company Richard A. Deer started in 1981.
Mini Thins were popular as a legal upper until the U.S. Food and Drug Administration banned the product's main ingredient, ephedra, in 2004. Before the ban, Body Dynamics, which did business as BDI Marketing, sold its products in 80,000 retail outlets.
Body Dynamics filed for Chapter 7 bankruptcy protection in 2009. Revenue had plummeted from $11 million in 2007 to $2.2 million, according to the company's filing.
The company also faced three lawsuits, originating in different parts of the country, from people who said they'd suffered a stroke or other health problems after taking Mini Thins. Those plaintiffs have tried to file claims in the bankruptcy case, but the judge has not yet ruled on whether they'll go forward.
Body Dynamics listed $33,000 in assets and $1.3 million...