Fortunately, it did get better as most callers eventually muted. But for any
future meetings with call-in attendance capability, hopefully the organizer
will stress along with the phone number and pass code, the importance of muting
our phones. And the moderator should instruct callers-in as well.
From: aem-vanc-bounce@xxxxxxxxxxxxx [mailto:aem-vanc-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Neil & Marilyn
Sent: Thursday, July 25, 2019 4:13 PM
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: American Equities meeting Thursday
Tried listening via phone, but was a mess. Nice try, but didn't allow for
hearing anything without folks speaking over the speaker and phone squawking.
On Thu, Jul 25, 2019 at 1:50 PM Doug Meddaugh <dmmedda@xxxxxxxxxxxx
<mailto:dmmedda@xxxxxxxxxxxx> > wrote:
Excellent. Thank you.
From: aem-vanc-bounce@xxxxxxxxxxxxx <mailto:aem-vanc-bounce@xxxxxxxxxxxxx>
[mailto:aem-vanc-bounce@xxxxxxxxxxxxx ;<mailto:aem-vanc-bounce@xxxxxxxxxxxxx> ]
On Behalf Of Denise
Sent: Thursday, July 25, 2019 1:28 PM
To: aem-vanc@xxxxxxxxxxxxx <mailto:aem-vanc@xxxxxxxxxxxxx>
Subject: [aem-vanc] Re: American Equities meeting Thursday
Doug, I spoke with Trey this morning and asked that question. He stated to me
that it would NOT affect any investors in any way. Only the business.
Denise Hood
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: Doug Meddaugh <dmmedda@pacifiercom <mailto:dmmedda@xxxxxxxxxxxx> >
Date: 7/25/19 1:23 PM (GMT-08:00)
To: aem-vanc@xxxxxxxxxxxxx <mailto:aem-vanc@xxxxxxxxxxxxx>
Subject: [aem-vanc] Re: American Equities meeting Thursday
Thank you, Trey. Your efforts on behalf of all the AEM LLCs (by extension) are
deeply appreciated and I agree with almost all of what you stated below.
However, there is one huge red flag for me in the last paragraph if I correctly
understand the potential implications (and I well may not). You mention the
idea of collection against ‘the current and future income stream of American
Equities, Inc.’ I am invested in the Parklands Estates development and in no
way support any legal action that would touch any of the assets or income
stream of that project. It is completely separate from the AEM pools and should
NOT be touched in any way by the AEM legal actions. That would be an absolute
conflict of interest for me and other AEM investors with financial interests in
other American Equities investments.
I will not be able to attend the meeting this afternoon but will be listening
in via phone call. I would just like to add that I am hoping what comes out of
all of this is the installation of a new manager charged with unwinding any
comingling of funds and engineering the liquidation of AEM assets and
distribution of proceeds for each pool with review by an external auditor and
with minimal need for multiple lawyers and the resulting syphoning off of money
that few can really afford. I understand the need for a lawyer(s) for any legal
action being considered against Ross Miles but it seems to me that would best
be done as an action independent of the efforts to liquidate and distribute
assets of the pools. I don’t pretend to know many of the ramifications and
complexities of all this but I’ll just reiterate what I expressed in an earlier
email, that my bottom line is to maximize the total return to the investors.
Thank you for your consideration and if I misunderstood what you were saying,
perhaps you would clarify in case there may be others who have similar
concerns. Again, I really do appreciate your efforts. Thank you.
-Doug
From: aem-vanc-bounce@xxxxxxxxxxxxx <mailto:aem-vanc-bounce@xxxxxxxxxxxxx>
[mailto:aem-vanc-bounce@xxxxxxxxxxxxx] On Behalf Of Trey Tennyson
Sent: Thursday, July 25, 2019 10:45 AM
To: aem-vanc@xxxxxxxxxxxxx <mailto:aem-vanc@xxxxxxxxxxxxx>
Subject: [aem-vanc] Re: American Equities meeting Thursday
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 14 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 am. 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
<mailto:rdj11256@xxxxxxxxx> > wrote:
From: Roy Thompson <roythompson@xxxxxxxxxxx <mailto:roythompson@xxxxxxxxxxx> >
Date: July 24, 2019 at 2:31:16 PM PDT
Reply-To: Roy Thompson <roythompson@xxxxxxxxxxx
<mailto: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.
A PROFESSIONAL CORPORATION
5 Centerpointe Dr., Suite 400A
Lake Oswego, OR 97035
Telephone: 503-635-3400
Cell: 503-381-9945
Facsimile: 503-635-3897
Tax Advice Notice: Any accounting, business or tax advice contained in this
communication, including attachments and enclosures, is not intended as a
formal opinion, nor is it sufficient to avoid tax-related penalties.
NOTICE: This email transmission may contain information that is protected by
the attorney-client or other privileges. If you are not the intended recipient,
you are hereby notified that any disclosure, or taking of any action in
reliance on the contents, is strictly prohibited. If you have rec
