Barney has decided to take a piss on some noteholders – again. If enough wasn’t already enough, he’s trying to take two investors to the woodshed because they tried to do the right thing on behalf of the whole (unlike the Creditor’s Committee).
I don’t know if anything is going on with the Kelly and Bruce BKs, but there is a status conference in Barney’s case on Tuesday, June 5th (that’s TOMORROW) at 1 p.m in front of Judge Efremsky. Barney is asking the judge to slam the investors (noteholders) who filed against him, claiming the filing was for “an improper purpose”. A rhetorical question: What could possibly be “improper” about not owning up to one’s personal guarantees and responsibilities for loans that he and his family made to his business entities to the tune of over $100 million dollars while leaving RE Loans investors broke – many destitute. It’s laughable, but Barney wants punitive damages for the loss to his reputation, attorneys’ fees and costs against these investors who stuck their neck out for all of us. Is this shocking? No. It’s expected, because that’s how these guys play ball. Hard ball.
The judge has let Barney explore his theory and Barney is running up the attorney fees that he wants to collect from them.
It may seem impossible but has anything about the Ngs seemed fair? Come and watch how Judge Efremsky treats our fellow investors who tried to take on Barney. It’s at 1300 Clay Street, Room 201 at 1:00 pm. Get there a little early because you’ll have to go through security. And while you’re there, the judge is also hearing a motion and having a status conference on the B-4 Partners Involuntary Bankruptcy. It could be a very, very interesting afternoon.
We should stand up for those who stood up for us. The best way to do it is to show up tomorrow.