Good morning, Roy. I felt we should probably speak directly regarding
your plans. My name is Eugene "Trey" Tennyson. My mother and I have
approximately 1.4 million dollars together in the AEM 600 LLC, but no
investments in other funds.
I am a recently retired Vancouver, WA trial attorney with 28 years of
experience. I have handled cases in courts in Washington and Oregon
(licensed in both states) and also in Oregon federal court in Portland.
I wanted to update you on my efforts re: the AEM 600 LLC, as these have
bearing on the status of the entire global receivership. Through my
local attorney, Tim Dack of Vancouver, we have filed (1) an objection to
the Receiver's motion for compensation and other professional fees; (2) an
objection to the Receiver's request for court authority to sell property on
short notice and without hearing. We are also filing a Motion to
Terminate AEM 600 Receivership. The primary grounds for these motions
are that the court lacks subject matter jurisdiction over the receivership
proceeding, because it was not commenced properly as required by RCW
7.60.025. Instead, it was commenced through an invalid assignment of LLC
assets to the creditors. This assignment of assets was an act which was
clearly outside the normal court of the LLC real property mortgage
investment business (as it true for all the LLCs which are part of the
receivership) and it required the unanimous consent of the members pursuant
to RCW 25.15.121. It also has the legal effect of removing the Manager,
replacing the Manager, and changing the management agreement (compensation
of the Manager), all of which require a 2/3 vote of the membership
interests.
We expect that the court will grant our motion and, having determined that
all other LLCs have made invalid assignments, will have to dismiss the
receivership due to lack of statutory foundation (which deprives the court
of subject matter jurisdiction). Our hearing on our objections and motion
is scheduled for August 2, 2019 and we have requested a special setting off
the court's normal 9:00 a.m. docket.
I am interested in discussing your thoughts briefly re: collection against
Ross Miles/spouse, other principals/spouses, available liability insurance
(if any), and against the current assets and present and future income
stream of American Equities, Inc. I am concerned that federal court is
not the way to go because it requires considerably more legal time which
will jack up expenses significantly. I cannot attend the meeting today
as I live in Phoenix, AZ but I am also not satisfied at being unable to ask
questions. Give me a call today if you can at (360) 904-1767. Thank
you,
Trey Tennyson
On Wed, Jul 24, 2019 at 3:14 PM Robert Johnson <rdj11256@xxxxxxxxx> wrote:
*From:* Roy Thompson <roythompson@xxxxxxxxxxx>
*Date:* July 24, 2019 at 2:31:16 PM PDT
*Reply-To:* Roy Thompson <roythompson@xxxxxxxxxxx>
Ladies and Gentlemen,
As you may know, my firm represents Rob and Eva Johnson in regards to the
American Eagle/American Equities matter. They have been instrumental in
arranging a meeting involving as many of you (and your legal counsel) that
can attend and participate regarding the following issues:
1) Selection of a legal team;
2) Legal options available;
3) How to collectively reach out to law enforcement, and other federal and
state agencies; and
4) The creation of a fund pool for expected attorney fees and costs.
The meeting is scheduled for tomorrow, July 25, 2019 from 4:00pm to 7:00pm
at the Oregon State Bar, 16037 SW Upper Boones Ferry Rd., Tigard, OR 97224,
Columbia Suite B.
Because some of you have scheduling conflicts or cannot attend due to
distance issues, we have made arrangements for a general conference call-in
number so that you may be able to listen in on the meeting. *Unfortunately,
we will not allow questions to be posed by those calling into the meeting
due to technology and time constraints*.
The information for the conference call-in is as follows:
Call-in Number :
1-888-740-4219
When prompted enter the Participant Code : 792021
One of the important issues to discuss during this meeting is that the
scope of this project may require involving several law firms. *I want
to stress that this law firm cannot work on this proposed project alone -
we will need legal partners to work collectively together to make this
proposal feasible.* I will be there with other representatives of my law
firm, but we are hopeful that other legal counsel, including any legal
counsel you wish to invite to participate, will also be willing to
participate and discuss various concerns with this project. We are
inviting any legal counsel who cannot attend personally to listen in by
phone and email me if there any questions or ideas.
As Rob and Eva Johnson have already stated, one of the more important
issues to be addressed during this meeting will be the anticipated costs
and expenses (which would necessarily include attorney fees, legal filing
fees, depositions and other reasonable legal costs) that would likely be
incurred over the course of any litigation. In our experience, those
anticipated costs will be onerous if incurred individually. That is why we
wish to discuss during the meeting, the creation of a general fund pool to
which we would all contribute to cover the legal fees and other costs
mentioned above.
In addition to the above, we are asking any and all of you to bring and/or
provide a list of the AE pools you belong to and how much you are owed in
each. Your latest statements or 1099’s would be most beneficial.
We look forward to meeting with you tomorrow. In the event that either
yourself or your legal counsel cannot participate, please let us know if
you still have interest in working towards a mutual goal as described above.
Roy B. Thompson
*THOMPSON BOGRAN, P.C.*
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Lake Oswego, OR 97035
Telephone: 503-635-3400
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