Hi everyone,
To add to what Eva has said, my attorney has recommended similar advice.
Going after the funds / pools may be fruitless b/c they are going to be
liquidated in receivership, etc. So what is left? The other entities (managers,
accountants, attorneys , etc) that remain. This would include Davis Wright
Tremaine potentially b/c they wrote some or all of these contracts for American
Equities. However, he warned this would be no slam dunk. There is no
guarantee what Ross, et al is worth (if anything) and Davis Wright Tremaine is
a large law firm that has the ability and motivation to defend itself (it could
be expensive).
I’m on the fence about appointing a different receiver. I agree that the
current firm is charging very high fees and that this will get expensive.
However, I believe that would be true of any receivership. I would like to
hear more about forcing a bankruptcy and having a public entity (the federal
courts) overseeing the distribution of funds. However, what are the risks of
having a public entity overseeing a bankruptcy? I think we need to learn more
about all pros and cons of these potential decisions.
Troy Rendon
Sent from my iPhone
On Jun 23, 2019, at 12:35 PM, Eva Johnson <los-johnsons@xxxxxxxxxxx> wrote:
Julia,
We are in Oregon and more importantly, so is our attorney, so I do not know
if we could file for the motion to change receivership. It’s my
understanding that if we file for involuntary bankruptcy (in Oregon or
federally), it would make it easier for our attorney to intervene. In any
case, our first step should be in my opinion, to get us together and have
someone who knows tell us our options. For instance, our attorney suggested
that we should go in mass to the District Attorney’s office in Vancouver
and/or to the US District Attorney’s office in Portland. Or that we go after
the entities that are not in receivership, so the accountants and lawyers
working for AEM, along with the family.
But I am only relaying these ideas and cannot elaborate much , because I am
not that well versed in the law. So it would be better to hear these from a
lawyer.
Eva Johnson
On Jun 23, 2019, at 11:39 AM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Yes. It changes the outcome for everyone if there is found to be illegal
activity.
The receiver also did not explain our options or procedures for objections.
He said only (and somewhat flippantly) that if we didn’t like something we
could take it up with the court.
A couple of weeks ago I contacted the FBI and made a report. I pointed to
the discrepancy between liabilities and assets as well as the amount of
money involved as evidence of a Ponzi scheme. The agent who took my report
said that the entity/situation is known to them. They could not elaborate.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 11:33 AM, LARRY MANSFIELD wrote:
Also at meeting at Red Lion, he was asked if he would contact or report any
illegal issues to proper authorities and his response was I am not here to
prosecute or judge illegal activities only to liquidate assets or words to
that effect were said, you are right he is representing Ross only.
Sent from my iPad
On Jun 23, 2019, at 11:15 AM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Agreed. The current situation is neither objective nor least-cost, as we
are entitled to as creditors. We need to pursue the option to change
receiver at a minimum. I am willing to be one of the two that makes the
motion. Can your attorney file it?
My attorney is filing my objection to the notice of intent to compensate.
We have a couple of reasons in our objection, so at least the runaway
train that this has been is momentarily paused.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 10:13 AM, Robert Johnson wrote:
Hello,
My name is Eva Johnson, I am Robert Johnson's wife. We wrote and sent
the letter to all we could, in an attempt to get everybody together.
This list-serve is a great idea, thank for setting it up.
I think that we should pursue Julia's suggestion and file a motion to
change receivership. My husband I have been talking to our attorney and
we were told that we could also force AEM into involuntary bankruptcy
(possibly in federal court), which takes it out of the receivership and
puts it into court. We need to meet ASAP. I am not sure how to make
this happen, anyone have an idea or would want to take this on? We will
have our attorney show up and help us figure out our options. But time
is of the essence. We want to meet with as few or as many as are willing
to do so. Thank you,
Eva and Rob Johnson
On Thu, Jun 20, 2019 at 4:24 PM Julia Pond <juliapond@xxxxxxxxxxx> wrote:
All,
It only takes a motion of two or more creditors (served and filed within
30 days of the notice mailed to creditors) to make the court order a
meeting of all creditors to determine whether a person other than the
assignee named in the assignment should be appointed as a general
receiver.
I think we ought to at least try to get someone who doesn’t have such
high fees AND get Ross’ attorneys out of this process.
As it stands, Hamstreet and the attorneys are on track to bill over a
million dollars by year end, and in any tough decision will favor Ross
over any or all of us—if it keeps the money flowing.
--
Julia Pond
juliapond@xxxxxxxxxxx
