No it does not. The receivership acts to suspend legal actions against the
persons and entities that are named as parties only. Ross Miles, American
Equities and American Eagle Mortgage Management are not parties and can be sued
now. That is what Gary Grenley is doing on behalf of the Nichols, his
clients.Trey TennysonSent from my Galaxy Tab A
-------- Original message --------From: Pat Witt <pat.witt@xxxxxxxxx> Date:
8/6/19 5:19 PM (GMT-07:00) To: aem-vanc@xxxxxxxxxxxxx Subject: [aem-vanc] Re:
Proposal for formation of new LLC and the end of Receivership We have a
question....Does the Receivership have to end before a lawsuit can be brought
against Miles by the or any investor??Thank you,Pat Witt and Bob KalmbachSent
from my iPadOn Aug 6, 2019, at 4:56 PM, Julia Pond <juliapond@xxxxxxxxxxx>
wrote:Mr Thompson,Very creative thinking, I like it.However, 10 to 25 cents on
the dollar on a bunch of assets whose value is low to unknown is not going to
entice the receiver (much less his/Ross’ counsel) away from a million dollars
in billings. I think at this rate, between them, they will bill a half million
by year end, easily, and will lengthen the engagement by any means
necessary.However, I am in favor of anything that dissolves the receivership. I
think at this point our only hope of that is a criminal referral. I reiterate
my previous assertion that no ethical person would have agreed to take this on
as an engagement. -- Julia Pond juliapond@xxxxxxxxxxxxx Tue, Aug 6, 2019, at
4:34 PM, Michael Banks wrote:Dear American Equities/American Eagle Investors:
As some of you may know, my name is Roy Thompson and I'm the senior partner in
the Lake Oswego law firm, Thompson Bogran PC. My firm arranged, at the behest
of my clients, Rob and Eva Johnson, the recent July 25th meeting at which I
spoke and in which some of you participated, either personally or on the phone
at the Oregon State Bar.I and some other attorneys and investors are
considering forming an LLC called "American Equities Recovery, LLC" which is
intended to take advantage of a ruling from the Court on August 2nd. During
that hearing, the Court approved of the process which is sometimes called
"bottom feeding," which essentially allows other investors or third parties to
purchase and/or sell the investment interests of others as part of the
Receivership. I propose to create the AER in order to make an offer to pay the
Receiver between 10 to 25 cents on the dollar for all assets in the
receivership. The offer would be in a form of a Note, payable in 5 years at 3%
interest. Once formed, we would file a motion with the Court to accept this
Note in payment, which would effectively end the need for a Receivership, thus
ending the current need for legal and receivership fees. This would also avoid
the necessity of placing your money in a litigation fund because I would
propose that your payment to the LLC would make you a member of the LLC. The
LLC would in turn have a management committee to oversee the hiring of the
legal team and the prosecution of any actions against Mr. Miles and any other
persons or entities the legal team believes should be named in any future
actions. In addition to the management committee I believe an advisory
committee of investors also be informed and kept in "the loop" on all legal
proceedings.I hope this proposal finds you all well and I look forward to your
input. Roy B. Thompson/hrs
