Larry,
At the early July meeting at the Peachtree restaurant we did pull together a
small core group for that very purpose. Because it was only locals there, I’d
like to review those names and see if we could gather at least one or two from
outside the Vancouver area. Neil Rylander set up a small, separate email group
for that.
I’ll check and see where we are with that. I’ve been out of town. I’m more than
willing to help in that effort and will send a percentage of my investment to
Thompson’s LLC today.
Thank you,
Ila
Sent from Ila's iPhone with a mind of its own.
On Aug 8, 2019, at 6:00 PM, Doug Meddaugh <dmmedda@xxxxxxxxxxxx> wrote:
To all investors:
I offer the following for your consideration.
I appreciate the clear message and reality check that Mr Thompson presented
below. I can only speak for myself in saying that I have held back in sending
a check until the results of the August 2 hearing were known and a go-forward
strategy was put forth so that I would have a better sense of how this might
proceed. We clearly have some remarkable individuals who are deeply involved
in research, making key contacts and reporting back to the email group.
However, I feel that a key missing piece that is critical to our hope for
success, is organization and leadership. I don’t think it is fair to put the
mantel of leadership on a single individual, so would like to suggest that
perhaps 3-5 people volunteer to step forward to form a steering committee
which can use their best judgement based on input from the broader group, to
lead the charge, discussing among themselves, identifying needs and calling
for volunteers as needed, making decisions and reporting to the rest of us.
I don’t think I need to name names of the investors who have been most active
so far and who I think are most knowledgeable and qualified.
I will acquire funds and mail a check as soon as tomorrow if I have the
confidence that this body will grow a head to coordinate the legs in moving
forward.
I deeply appreciate those who have been working so hard on behalf of all
investors. Thank you so much.
Looking forward,
Doug Meddaugh
From: aem-vanc-bounce@xxxxxxxxxxxxx [mailto:aem-vanc-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Michael Banks
Sent: Thursday, August 08, 2019 5:06 PM
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Proposal for formation of new LLC and the end of
Receivership
Message from Roy Thompson, attorney for Rob and Eva Johnson
To American Equity Investors
I appreciate all the discussion and commentary about my recent suggestion
regarding the formation of an LLC, as well as the formation of a litigation
fund to pursue those individuals and/or entities not part of the Washington
Receivership.
However, the upshot is that other than receiving a check from two investors,
no one else has sent any other amounts that I am aware of either to my or Mr.
Grenley’s firms. In case you weren’t aware, we imposed a thirty day deadline
to ascertain the interest of you as investors to establish a litigation fund.
I have been approached directly by some investors who have voiced support
both for my ideas and the litigation fund, and I appreciate their words and
actions to date. However, I represent Rob and Eva Johnson only, and unless
there is appreciable movement towards some resolution within the 30 day
window, I and my law firm will withdraw from any further action in this
matter, other than to support our clients, and only our clients.
I am hopeful there will be some among you who will take it upon yourself to
try to take a lead and advocate for a position that will attempt to move this
matter forward. Again, my firm’s involvement to date has only been to
attempt to facilitate a communal effort on all of your parts to seek
solutions beyond the current Receivership matter. If you are all able to
come together and select a law firm to lead this charge, I have already
stated that my firm cannot and will not take the lead, as this matter is more
appropriately led by a larger firm with more assets available. My law firm
specializes in tax and business litigation, and both my partner and myself
possess advanced tax degrees and have broad experience with financial tracing
efforts for litigation purposes. I have advocated for Gary Grenley’s firm to
take the lead, and Mr. Grenley has indicated his firm would be consider
taking over the matter if enough of you sign up and contribute to either a
litigation fund or some other vehicle.
Frankly, it is time for as many of you to come together in some manner and
select a path that makes sense. Yes it is risky; and yes it will be
expensive. I point out that the meeting that was held on July 25th was
supported by Rob and Eva Johnson and this firm and none of us asked for money
to arrange and hold the meeting. There is no way to sugar coat this issue.
Therefore, if this matter is not resolved in some form by August 26th, I will
pull my firm out of this matter completely.
I wish you all the best.
Roy Thompson
On Tue, Aug 6, 2019 at 4:33 PM Michael Banks
<americanequitiesinvestors@xxxxxxxxx> 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
