Investigative Blogger Crystal Cox v. Kashmir Hill Forbes Reporter
Northern California Case 4:13-cv-02046-DMR
Anti-Trust Lawsuit Cox v Kashmir Hill, Forbes -
Part Two
Stephanie sets camera up on back counter and situates it.
Mark to Stephanie: So you think…I mean Vivienne is a pain in the ass!
Stephanie: I think she’s OK. I mean she came and searched me out.
Mark: But, but Vivienne…whispering…
Stephanie: The only thing I am concerned about is that it is taking so much time already.
Mark: It’s taking so much time. I am going to put that back on Susan (Susan Ford of Sussman Shank). I mean it’s like you haven’t even set up a Conduit for us to transfer assets. In fact, you said no.
Terry: Well part of the reason for that was to make sure there was some stipulation or agreement by the creditors’ committee. That they weren’t just going to start attaching everything. That’s all part of the 105 Injunction.
Mark: So was there any talk yesterday about the whole Tennant thing.
Terry: That’s where the biggest problem is in terms of blocking this whole mess. As far as I’m concerned it came right out of the creditors’ committee, of which, Obsidian has been totally responding to the creditors’ committee.
Mark: Right.
Stephanie: Right, but the Judge seemed to say that unless you guys…basically the creditors’ committee convinced that Obsidian will do the job they say they are going to do and they’ve given them a presentation and they had a vote.
Mark: I talked to one of them…well I didn’t but that one (creditor – Rolland Andrews) – Scott (Scott Adams) said he was going “At that presentation they gave us some bull shit. They are expensive as hell. I don’t even understand what all these people want.” He’s on the creditors’ committee and he sees it.
Stephanie: So anyhow, we have to figure out a way to get this (whole mess) into the right hands if we can.
Jan: Seems like the person or the party who’s spent the most time actually hands on knows the most and should be…
Stephanie: And Susan did agree with…I said that Terry has a working knowledge. He’s been working there (Summit) day in and day out trying to find out what’s going on here.
Jan: I mean that’s a slam dunk. He knows more…
Stephanie: She (Susan Ford) reiterated the same thing and no one seemed to have a problem except this Tennant group because they can’t get what they want
Terry: Exactly.
Stephanie: So now they want to just appoint a Trustee so that they can just to get things going.
Terry: You know it would have been a long time ago if they would have just gotten out of the way.
Mark: How come no one brings this up at the hearings?
Terry: I don’t understand that.
Mark: Why do we have attorneys who sit there and can’t even bring it up as an issue?
Jan: It makes you feel like you should be present at all of this stuff if it’s in Portland.
Stephanie: Well that’s why I think…I don’t know…be there because when I went there the attorneys did bare minimum for you guys.
Tim: How long was the hearing, yesterday?
Stephanie: An hour and…
Terry: Did they even address the injunction?
Stephanie: K what’s what’s…No. I don’t think so.
Terry: The original reason for that meeting or the hearing yesterday was to rule on the injunction…
Tim: To extend it.
Terry: Well extend the TRO and figure out whether…
Stephanie: They did it. They did do an extension of the TRO. Then the talked…the only things that they had on there was that and whether to get you (Terry) out and Obsidian in.
Terry: Well I guess the extension was the TRO. I’m not sure of the injunction.
Mark: You know Bob (Bob Vanden Bos – Mark’s bankruptcy attorney) calls me up yesterday and says, “Well I need to know if you agree to extend the injunction or not. What do you want me to do?” Do I have a choice Bob? “Well if you say no, they’ll just do this and that.” Why are you wasting your time calling me and asking me anything?
Tim: He has to sign it.
Mark: I know it’s just a ridiculous conversation we’re having right now. I get tired of you asking me all this shit that I don’t have a choice on.
Stephanie: Well so anyhow he gave me something to sign that would give me power of attorney to do whateverJ
Tim: Who, Bob Vanden Bos?
Mark: Well I’m not sure that’s a good thing.
Laugh
Terry to Mark: You gave her power of attorney?
Tim: Now we have a whole different worry.
Laugh
Stephanie: He’s all – “Are you sure you want this job?” I said, well I don’t know.
Tim: I got a whole new worry now.
Stephanie: Whatever.
Mark: Yah at the next hearing we’ll have the Santa Rosa police there going “Let me tell you about this one.”
Stephanie: Hey, if I wouldn’t have gone there yesterday this would have gone through the Trustee (US Trustee) quick and you guys have no say.
Jan: And what’s it looking like to them when nobody is there to…I mean does it look like…well I guess they don’t care and their not.
Tim: Why can’t we get better advice from our attorneys?
Jan: It’s frustrating that way.
Mark: I mean we pay them a lot of money and…
Stephanie: When Bob called me back after I told him why I need to be there (at the hearing) and he said “OK” and he got off the phone and he talked to Summit’s bankruptcy attorneys and they said “It wouldn’t be a good idea she comes…they are going to choose Obsidian anyway. There’s just no way.” I said you know I have been told…
Mark: Susan is such a…she can be pushed around.
Stephanie: It was the guy attorney.
Tim: Oh, Tom (Tom Stilley)
Mark: Tom
Stephanie: I said – Ok I have been told several times by attorneys what will and will not happen and I don’t believe that they always know and so I am going to go down there and
I want to at least be there present so that if there is a chance and something happens, great, but if nothing happens then I don’t lose anything.
Jan: You have to try.
Mark: I think there is a pattern of what they tell you is going to take place…they’re wrong every time so why do we…
Tim: They’re guessing and they control things in a controlling environment.
Stephanie: My experience is with attorneys is they always tell you what is bad that is going to happen and sometimes it does and sometimes it doesn’t.
Terry: Do you have considerable experience?
Mark: Yah, there you go Terry. Good question.
Stephanie: That’s why I’m not scared to go over there.
Tim: Terry, don’t go there.
Laugh
Mark: You don’t want it to get dark.
Laugh
Tim: You know I did this stuff with the trucking company that filed bankruptcy, we used Barry at Sussman Shank and he said, “I understand there wasn’t a criminal aspect and I understand there wasn’t the amount of money”
Mark: Well let’s bring Barry back.
Tim: He said “You go and you explain openly to everybody where you’re at and what you’re trying to do and that you’re doing the best that you can. If anyone has questions for your attorney, have them call me.” I think my retainer for their services was $5,000 and he gave me $250 back when it was all done. Granted it wasn’t the scope of all this, but it’s…what diffused a lot of people was me saying look I’m not running away, I’m doing everything I can to take care of this problem and you know you can fight it but al it’s going to do is throw us in bankruptcy. Well, of course, we are already in bankruptcy but it seems to me like that face and saying…
Mark: Nobody knows that we’re not running away.
Terry: And because the Judge quoted directly from my affidavit at the previous hearing regarding…then and he asked both the creditors’ committee and Susan and Tom, “Why the hell we can’t get something done. It says right here…Mr. Vance said right here that the debtor…all of the principals are cooperating to the best of their ability and they’re willing to make every effort.”
Stephanie: And they reiterated that yesterday too.
Mark: But that’s who they aught to be asking…Susan…because I just don’t believe she takes charge of this. She gets moved around by everybody and I even saw it that day with Vivienne where she just buckles.
Stephanie: She did do an OK job presenting and she validated the points I had brought up as far as you (Terry) and the work you’ve done. She reiterated it with the Judge. She kind of supported me up there when I wasn’t yah know but…I don’t know. I don’t know what their job is exactly to do.
Mark: Their job is just to get paid.
Tim: I think that’s another reason why we have to be there, if not for ourselves, it also holds her accountable, but it also gives her something to support instead of just going with whatever direction things seem to be going.
Mark: I think you’re right. I think it holds her accountable while we’re there.
Stephanie: And the Judge seemed to want to get this resolved quickly. Like sooner than this date..they set a court date for the 20th…Umm…
Mark: It’s the end of the extension of the TRO.
Stephanie: Right, but he wants to figure out the trustee deal prior to that except for Wednesday.
Terry: Except for Wednesday?
Stephanie: He’s gone Wednesday or something.
Mark: You know one of my biggest fears is that…like in these LLC’s…that all of our partners who are innocent parties to this whole thing just get run over. That’s just a huge concern to me.
Terry: Run over by?
Mark: By whoever the Trustee is…they just go into these LLC’s and they want you to just sign your rights over and then we get control and we do whatever we want. I just want someone with the best results…
Terry: Well isn’t that defined in the operating agreement, though?
Stephanie: It is.
Mark: Well yah but my attorney is going…well no you know there’s operating agreements…I pointed out…
Stephanie: But their going to get in default.
Mark: I pointed out that like on Smith Brothers…if I assign it, I don’t have any ownership. I want to ask Kevin specifically about Smith Brothers…I’m going to ask him about Century Drive Mobile Home Park…If he knows that if we assign our interests’ that it immediately puts them in default.
Stephanie: I asked him about that and he kind of pushed it aside, but said that “There are ways to deal with that.” So I want to know exactly what ways you say there are to deal with that because he says, “The seller doesn’t always get the property.” How do they not when you’re in default?
Mark: When I look at Century Drive Mobile Home Park…it’s like ok…put it on the market…can we get anything for it? Why are you putting it at risk if we’re cooperating…just leave it where it’s at…let’s see if we can sell it for an amount to get some money to the creditors.
Tim: And preserves the interests’ of our partners.
Mark: Right, right.
End Transcript Prior to Kevin Padrick of Obsidian Finance arriving to give presentation, but instead ends skirting around the fact that he did an end around on the Summit Principals by promising to help them with there liquidity problem, taking all their data, and selling a higher paying job to the US Bankruptcy Court, the US Trustee’s Office and the Creditors’ Committee.
No one cares about the conflicts of interest that occur in these bankruptcy cases, so the facts of what Kevin Padrick of Obsidian Finance did that was probably illegal are washed under the carpet, never to be seen again. The American Justice System allows for attorneys to have all sorts of conflicts of interest and end arounds as long as it suits their purpose which is their own agenda, not Justice. If you don’t believe me, just wait until the same thing happens to you and you will be kicking yourself for ever thinking our Justice System is about Justice. IT IS ONLY A GAME. Attorneys are the best at playing that game because their work is about playing the game. Kevin Padrick scored and he knew bankruptcy laws and he knew about fear and pleading the fifth and playing the media game. He is smart and good at his job, which is apparently screwing people out of their money."
Source of Post and Lots More
http://www.summit1031bkjustice.com/?s=opera