149 Petition Signatures & Counting

Keep it coming, people!

http://www.change.org/petitions/tell-the-us-trustee-to-hold-walter-ng-accountable-for-his-debts

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10 thoughts on “149 Petition Signatures & Counting

  1. Hi John,
    Is there a petition for Weissenborn (sp?) and one for Wells Fargo to give an accounting?

    Thanks for your efforts on everyone’s behalf.

  2. IIs it my computer or is there a problem with the Petition, CHANGE.ORG…when I go there I get a mess, unreadable with blue overlay? Anyone else with this problem? Can’t sign if cannot read it.

    • Works fine for us. Here’s the text:

      We, the undersigned, register our staunch opposition to Maribel & Walter Ng’s efforts to discharge their debt and their efforts to receive exemptions due to the wreckless destruction they caused in the lives of well over 3,000 people. Furthermore, we object to the current formation of the Creditors’ Committee as it should not be stacked with Walter Ng’s cronies and illegal out-of-state investors. We urge Assistant U.S. Trustee Margaret McGee to stand up for the people she represents.

      Walter Ng made promises to each of us that were not kept, purportedly for the purpose of enriching himself and his wife, Maribel, at our expense. His lies, poor decisions and self-aggrandizing actions have left us penniless, destitute and struggling to find a way to register our concerns with the proper authorities in an effort to hold him accountable for the destruction he has caused in our lives.

      Despite Walter’s pledge to keep our investment safe, he broke many ethical rules and numerous laws along the way, leading to a loss of nearly $1 billion dollars of private investor funds. In doing so, he ruined the lives of thousands of investors and their families. Many of the investors are senior citizens and many were reliant upon their “safe” investment as their sole source of income. As such, this should not be treated as an ordinary Chapter 11 case. It has ramifactions well beyond a simple open-and-shut case.

      The Ngs are using our hard-earned money to pay their blue-chip attorneys a pretty penny in order to leave us with nothing while he enjoys his meal allowance, entertainment allowance and transportation allowance, in addition to many other “costs” he maintains in his egregiously offensive lifestyle.

      Tell the U.S. Trustee that you don’t deserve to continue to be treated as second class citizens while Maribel & Walter Ng spend your hard-earned money to finance their outrageously expensive lifestyle while discharging every single debt they’ve ever owed through their potentially illegal enrichment schemes.

    • WHY would an extension jeopardize claimants right to hold Ng accountable? Statute of limitations?

      And why would it matter since a majority won’t even file their Proof of Claim? They haven’t so far.

  3. Yes, the S/L is a tricky and looming issue by itself not just in realtion to the bar date. An extension may help Walter ulitmately escape unless an extension tolls the S/L.

    As to the status of the claims, people feel like the deer in the headlights. Although a claim should be filed by everyone, it is not that important whether you check the correct boxes.

    I think ultimately the claims will result in no financial compensation to members of REL or MF08. Those creditors who are personally secured by Walter or who have personal gurantees will fair little better. Most of the assets here will be eaten up by the lawyers and their experts. It is a sad commentary on American Justice.

    But maintain your personal tort remedies may result in some ecomomic justice in further litigation filed aginst Walter and his ilk.

    There is word that some potential recommended course of action is afoot.

    There are other potential ill winds blowing towards the Ng Gang.

    Stay the course, don’t dispare.

    • Good to know this. All the investors should help themselves a little bit by filing their proof of claims – you can’t collect anything if you don’t show up and this simple form will ensure one is listed as a creditor.

      Also, does it matter if one files the “objection to dischargeability of debt”?

  4. I will post some examples of formal
    adversary proceedings on my blog
    this afternoon.

    If you file something formal it costs
    $300. dollars and requires, a civil
    cover sheet, summons, and complaint.

    Courts have accepted hand written
    short complaints. I will post examples
    from the Carl Miller Bankruptcy.

    We will have to do none of this if
    Tracy Green would do her job and
    get an extension of the bar date.

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