[aem-vanc] Re: American Equities meeting Thursday

From: Denise <dmhood@xxxxxxxxxxx>
To: aem-vanc@xxxxxxxxxxxxx
Date: Thu, 25 Jul 2019 13:27:57 -0700

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@xxxxxxxxxxxx>
Date: 7/25/19  1:23 PM  (GMT-08:00) To: 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] On Behalf Of Trey TennysonSent: ;
Thursday, July 25, 2019 10:45 AMTo: aem-vanc@freelists.orgSubject: [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 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
PDTReply-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; and4) 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. ThompsonTHOMPSON
BOGRAN, P.C.A PROFESSIONAL CORPORATION 5 Centerpointe Dr., Suite 400ALake
Oswego, OR 97035Telephone: 503-635-3400Cell: 503-381-9945Facsimile:
503-635-3897Tax 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

Follow-Ups:
- [aem-vanc] Re: American Equities meeting Thursday
  - From: Doug Meddaugh

References:
- [aem-vanc] Re: American Equities meeting Thursday
  - From: Doug Meddaugh

[aem-vanc] Re: American Equities meeting Thursday

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