1. What effect did the RE Loans bankruptcy filing have, if any, on the class action suits filed by the Phoenix law firm and Brown (Mendes) as well as the Brower suit filed on behalf of Dixon Collins? We know that an automatic stay is put into effect once BK occurs, but parties can enter motions to lift the stay, allowing for the case(s) to move forward upon approval from the BK judge.
2. What is the status of the Alegria/Grassi lawsuit? We know the suit was dismissed without prejudice. Did this turn into a settlement? Do any of the bankruptcy filings pump new life into this case or did Alegria & Grassi secure a settlement and pocket some cash or property?
3. If, as some say, ’08 is simply a ponzi, that was built on the backs of RE Loans, is ’08 in a better or worse position than RE Loans? Given the lack of a line of credit, one might argue that ’08 is in a stronger position. Given the specter of a ponzi scheme, others might argue they’re in deeper sh!t than RE Loans. What say you?
Chime in, people.