All Questions Answered

Things have been quiet here lately. Is this the calm before the storm (McGwire, Collins, Stewart and Lemas) or have you simply resolved yourself to the fact that your investment might be worth around a penny or two on the dollar? Weissenborn is quiet. His silence seems to silence us, which is opposite of the way things should be. The less we hear from Weissenborn, the more we should kick and scream. Often times we ask you for suggestions on what to discuss, so let’s try something new. We’ll answer all your questions in this thread. If we can’t answer them, others can jump in. Who’s got a question they would like answered?

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47 thoughts on “All Questions Answered

  1. Does any RE Loan investor have anything to share on how the Proof of Claim needs to be filled? The due date will soon be upon us and no one seems to address this. If the investors don’t do this, you’re writing anything that may be due over to the people who are enjoying spending RE Loan investors funds.

    This would be a productive thing to spend some time on. Or, is this out of sync with what the readers on this forum believe?

  2. At the suggestion of Robert Brower, I contacted Tracy Green to find out if all of the investors would be represented/included in the Objection to Debtors Discharge – here is her response:

    The committee has not determined if it will object to the debtors’ discharge. If the committee objects to the discharge, it would impact all creditors of the Ng’s, and if it was successful that would mean that none of the debts in this case are discharged. The deadline for that has not been set, as it is the date of the firm confirmation hearing. Of course the committee does not know if you have a claim in this case or not, having never discussed your claim.

    The deadline which you refer to is the creditors’ deadline to object to the dischargeability of their debts. We have asked the debtors to extend the time for all creditors to file complaints objecting to the dischargeability of debts, and so far the debtors have not agreed to grant an extension. RE Loans and the Debtors both have stated that the Debtors have given RE Loans an extension of time to object to the dischargeability of debts. However, we have not seen the Debtors file anything in court on that point.

    There is no list of creditors for you to be added to. This is not a separate litigation that would be brought by naming every creditor such as you would have in state court.

    The committee cannot advise you to file a complaint or not to file a complaint. We hope this is helpful to you.Best regards,Tracy

    Will someone please explain to me what “the Committee” is – I am not clear on their role (and a lot of other things, as well). thank you.

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