RE LOANS FILES FOR BANKRUPTCY PROTECTION

RE Loans filed for bankruptcy.  While this was inevitable, no doubt, it’s still a shock to the system.  Despite the fact that it’s our money, our lives and our futures, the real bankrupt entity is the Ng Family Dynasty.  They’re morally bankrupt.  They’re ethically bankrupt.  Yet they’re still out there doing business and tricking more suckers like us out of their hard-earned savings.

Maybe Led Zepplin said it best in “When the levee breaks”

If it keeps on rainin’, levee’s goin’ to break,
When The Levee Breaks I’ll have no place to stay.
Mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home

Equitatus posted the following a few minutes ago: Continue reading

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Proof of Claim Forms

Okay, we’re up against a deadline everyone. If you haven’t yet sent your proof of claim form, today is the day to focus on this important task.

Don’t forget to factor in the interest you are due and any other costs or fees you can reasonably validate. Our math shows that interest payments ceased on November 1, 2008 and should be calculated through 05/12/11, the date sweet Walter filed for Chapter 11.

Bankruptcy Claim Form fillable – blank

Gordon Noble and others have posted examples. We have not received legal guidance on this, so your guess is as good as mine as to how to properly fill these out and what documentation you will want to send. Regardless, the best option is to simply get it done and send it in.

If anyone has suggestions, please share them ASAP.

No lines - If you filed your Proof of Claim form, you didn't have to wait

Worthless New Website (Thank You For Spending Our Money, Tracy Green)

Thanks to Tracy Green, we can waste our time getting zero information on <a website> built at our expense, an expense, we might argue, that is far greater than the value provided by Ms. Green and the website combined.

Continue reading

The Old Tracy Green Snow Job – A Call To Action

Reposting the following comment from monagesque, who makes a VERY good point.  For the record, Maggie McGee’s email address is:  maggie.mcgee@usdoj.gov.  We suggest copying her boss, August B. Landis at augie.landis@usdoj.gov.  Anyway, onto monagesque’s comment:

I think this is really scary. Tracy and her team are clearly moving at breakneck speed in getting us cut out of receiving any useful information. Unfortunately, the “creditors’ committee” that has been chosen to represent us has agreed that:

The Committee shall not be required to disseminate to any entity, …(i) confidential, or proprietary information concerning the Debtors or the Committee, including, without limitation, with respect to the acts, conduct, assets, liabilities and financial condition of the Debtors, the operations of the Debtors’ business and the desirability of the continuance of such business, or any other matter relevant to this case or to the formulation of a Chapter 11 plan, whether provided by or on behalf of the Debtors or by any third party or prepared by or for the Committee, or (ii) any other information if the effect of such disclosure would constitute a general or subject matter waiver of the attorney- client, work-product, or other applicable privilege possessed by the Committee.

I am concerned that Ms. McGee has not added any other investor (not picked by Walter) to the creditors’ committee. I recall that after the June 2 hearing both she and Tracy G stated that additional creditors would be added to the committee. I think that McGee needs to receive as many phone calls and emails as we can make to demand that additional creditors be added. Clearly, Tracy G is not working for us.

Well, people, monagesque is onto something.  We’re getting a raw deal and we need to scream and shout from the rooftops.  Send an email.  Make a phone call.  Send a letter.  But REALLY, people, REALLY – do it now.  I’m in.  Are you?