Creditors Meeting in FOUR DAYS

Last time I didn’t post on the subject and a grand total of three people showed up. I understand the Occupy issue, but this time there should be no such challenges. Let’s show up and show the Ngs what we’re made of.

29 thoughts on “Creditors Meeting in FOUR DAYS

  1. If I didn’t live out of state, or if I had some of my money and could afford to travel, I would go. Appreciate your updates a lot!

  2. I will be there. I arrived a few minutes late to the last one (nabbed by a reporter between the garage and the court wanting to know how the Occupy movement had hindered my day. It hadn’t, but she had. Hearing was over when I got to the court room.

    • Monday’s meeting is not at the court. It is across
      the street in the North Tower of the Federal Building.

      The security screening at the Federal Building may
      be slow because they screen one-by-one. If you go
      to the wrong building, you may miss the meeting.

    • I spoke to Equitatus, who is fine and well.

      Equitatus continues to work hard for all investors,
      except in another capacity.

      If anyone decides to write a book about the Ng and
      Horwitz “House of Cards,” then Equitatus deserves
      a special chapter for all the help, insight and guidance
      that he/she has provided to everyone.

    • It means that there may be some funds left over in the Walter Ng personal bankruptcy to be distributed when all is sold and settled. Probably not much, if anything, but it costs nothing to file your claim, so it’s best to be safe and file.

        • There are multiple class action lawsuits. The contact info for the relative lawyers on each is at the top of the first page on each filing, and you can find at

          The lawyers got a few named participants to create the filing, and the rest of the investors are included in the class, so unless you are trying to be a lead complainant named in the suit, there is noting to add your name to at this time. Everyone is included, (unless they have asked to be excluded, to pursue their own case,) and if a case prevails and there is anything to recover, members of the class should be notified to file a claim. But that could be months or years from now, if ever. None of the cases are settled, so there is nothing to file on at this time.

  3. I asked Tracy Green if we need to file a new claim in the Walter Ng bankruptcy case now that it has been converted to a Chapter 7.

    Her answer was no, unless you want to amend your original claim. I doubt any of the RE Loans claimants will ever see a penny out of Walter’s bankruptcy anyway.

  4. As expected, Walter took the 5th for just about every question, which kept the meeting short. His two attorneys and body guard are costing us in the range of $1200-$1500 per hour, combined, so Walter probably saved us a few hundred dollars. John Weissenborn probably blew through that today before the meeting started.

    It was nice to see a packed room with several dozen creditors appearing. Would have been nicer if the court had provided enough seating, as many are elderly and it’s probably difficult to stand so long. As pointed out more than once, a microphone would have helped, because many people could not hear what was being asked. Some people traveled far for the meeting, hours of driving or flying from out of state, to spend an hour looking at Walter say that under advisement from his council he declined to answer even the most basic questions, like when did he move to his current residence or who is running Loan, Inc. The Trustee asked questions, Tracy Green asked questions, Robert Brower, Richard Brown, several investors, and even Dan Noyes from KGO asked questions. (Look for an update on the 6 oclock news tonight.)

    Walter wouldn’t say who was living at, caring for, or owned the horses/mules at local property. I wondered if the asses were named Barney and Kelly. Some investors asked why we were going through this charade if Walter wouldn’t answer anything and Maribel claimed to not know that they were in bankruptcy, what bankruptcy was, or if she owned a diamond ring, until it was pointed out that there was one on her finger. Tracy Green and the trustee explained that it was important to still get the questions asked, because it may later turn out that Walter did not qualify for protection under the 5th, in which case he would be required to provide those answers. The creditors meeting is a requirement for the process, and Walter is legally allowed to decline to state answers for fear that he would incriminate himself in the concurrent criminal investigations. (Hope he fears that a LOT. I hope it keeps him awake at night, gives him indigestion, chest pains, and makes his life hell. I hope all of the people in Rossmoor have been following the KGO reports and know what their neighbors, the Walter and Maribel Ng, did to thousands of people who now look forward to seeing Walter, Barney and Kelly in handcuffs, hopefully to die in prison. But I digress… )

    This trustee is more engaging than our Chapter 11 trustee, and welcomed anyone to contact him with any information you may have about possible assets, either ones claimed on the bankruptcy filings, or not claimed. They are there to research, locate and liquidate Walter’s assets, for distribution to creditors. So if anyone is a casual reader here that might know something helpful, you can email the trustee Fred Hjelmeset, at Remember, that this is for the Walter Ng and Maribel Ng personal bankruptcy, not the RE Loans, RE Reno or MF08. You can probably contact the IRS, FBI and SEC regarding those accounts.

    So if you’re thinking back that Walter once boasted over a golf game that he owned this or that piece of property, or made lots of trips to some location where he could have bank accounts, safety deposit boxes of cash, or other assets, or you’ve got some old letters telling you about something, send the info to Fred. He said they would investigate all leads. They expect to keep this open for a couple of years because there are a lot of accounts to look at, and look for, and there is possible money from RE Loans, which is also in bankruptcy. Also, if you know of potential transfers of funds done before the bankruptcy filing, via Walter, or Walter Ng Investors, send that info to Fred. If fraudulent, they might be able to void transactions going back a ways.

    And don’t forget to look for the 6 o’clock news on KGO-7 tonight, for Dan Noyes updates.

    • It was great to see so many investors show up yesterday. Wish I could have been there to have Walter see what side I”m on. Supposedly he was great friends with my parents, and I’ve known them for 49 years. What a betrayal of us all. Glad someone grought up the jewelry collection. Bel was famours for it, and famous for the expensive home decor. Where did it all go? Where are the diamonds, best pearls, most expensive jade? I’m glad my mother is not alive to see all this come down. It would have broken her heart. Yes, Ngs, just come clean! I am in touch wtih Christina, and filed paperwork. Hope everyone else will do so, too.

  5. My thoughts exactly.

    Bell had/has a truckload of jewelry, I don’t think I’ve ever seen her with the same pieces on more than once. Yes, all of the Chinese antiques, they had plenty of time to stash everything.

    Shortly following our joining Bar-K, they fired my cousin who worked for the Ng’s 20+ years in their Escrow department. I have always wondered why?

    Im aware of them owing 2 townhouses in Palm Desert, CA. My husband was flown to a Golf course with Walter to play golf. Walter claimed to own the course. My husband was taken to a basketball game in Oakland and sat where you normally see Jack Nickelson sitting, at his team’s games. (Don’t now what you call it).

    Walter also told us that “he had to have a chat with both boys about their wives bring to out spend each other”.

    Finally, does Kelly still employ a private chef/cook?

  6. People have criticized me on continuing to bring up the jewelry issue calling it petty. I disagree.
    It has been my experience in 30 years of hard fought litigation that if a person is willing to lie about a small issue they are also lying about the larger issues.

    If you want to help and have any information, email it me and the Trustee. You may have information that can be helpful. For example, what jewelry stores did they shop at? The FBI can subpoena the stores records, interview the owners. Do you have pictures of her with the jewelry on? Who was their homeowners insurance with? Did they list a schedule of jewelry with their insurer? Think outside the box.

    Absent yesterday were the gold jade ring and pearl earrings she wore at the first hearings
    It is a crime to lie to bankruptcy court.

    Its Walter thats lying.

    • I believe RE insurance was carried by Dayna Siebert, 215 Foss Creek Circle Healdsburg, CA 95448-4298
      (707) 433-5359. I am guessing Dayna may have also written their personal insurance.

      As an aside, Dayna’s mother has (had) significant holdings at RE Loans.

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