Ng’s Keep the Judicial System Busy

It’s been awhile since we’ve all gathered in a courtroom, but on Tuesday, August 28, 2012 there are two legal proceedings happening the same day in two different court systems, both in Oakland. Attorney Robert Brower has provided the tentative ruling for the Wells Fargo consolidated class action suits, which denies Wells Fargo’s request for demurrer. Seems likely that Wells Fargo will throw lots of legal fees at trying to change the judge’s mind, so Attorney Brower recommends checking back here Monday night for an update. If court is happening, it will be at:

Alameda County Administration Building
1221 Oak Street
Oakland, CA 94612
Judge Steven A. Brick, Dept 17
3:00 pm Tuesday August 28

** Note correction on the name of the building**

Small courtroom, first come seating, leave time for security. You all know the drill by now. But this would be our first opportunity to meet the class actions attorneys, and show some support for our own cause.

If you’re in town early, several blocks away at our familiar haunt; the courtroom of Judge Efremsky at the US Bankruptcy Court, the bidding on Walter and Maribel Ng’s rugs and household goods resumes at 11:00 am.

U.S. Bankruptcy Court
1300 Clay St. Room 201
Oakland, CA

Walter and Maribel lied on their personal bankruptcy filing, and these are the goods which are in excess of what they claimed and are legally allowed to own. This meeting will be where Kelly Ng uses money he got from us to bid on the items seized from Walter Ng and Maribel Ng, which they bought over the years with money they got from us. But it’s not like we got nothing out of the deal–there was dinner at the Silver Dragon.

At the price range these are bidding in, it will hardly make a dent in the legal bills, so we’re unlikely to see a penny out of it. But if the recording from the last meeting is any indication, there will probably be plenty of eye-rolling and heavy sighing entertainment from the family drama queen, Kelly Ng.

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Per the Equitatus blog – Barney is mad :-(

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).

Here’s a picture of young Barney Joe Ng showing what he’ll do to you if you stand up to him. He was a punk then and he’s a punk now.

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.

Liar, Liar, Pants of Fire!

Probably not news to the hundreds of investors who crowded into the first creditor’s meeting last June, but the slow wheels of justice are finally catching up to Walter Ng, with this complaint that the trustee filed which charges Walter with:

  1.  Intent to Hinder, Delay or Defraud a Creditor
  2.  False Oath or Account
  3. Failure To Satisfactorily Explain Loss or Deficiency of Assets

Think he’s feeling the heat now?

Thanks to Equitatus for posting the full complaint which outlines the specific lies he’s charged with and all sorts of other interesting information.

Trustee is asking the court to

  1. Deny Defendants’ discharge
  2. Bar them from re-filing under any chapter of the Bankruptcy Code for a period of 8 years, and
  3. “For such other and further relief as the Court deems just and proper.”

Guess Walter lucked out, since we no longer have hanging judges.

What happens next isn’t quite clear; Will it be a race to sue Walter for whatever you can find, or will the government try to do some organized liquidation? If they pursue the criminal charges, these are federal crimes,  the IRS would do the investigating and the department of justice prosecutes.

In the meantime, the trustee has removed a few trinkets for an early quick sale; a diamond ring and jade bangle, and three cars. Lexus or Corvette anyone?

Details on that auction can be found here

These items are expected to bring around $40,000. which hardly dents the attorney fees, so it’s not like we’ll be seeing any money back, but it’s a start.

At least we’ve got the moral victory.

An Update From The Field

Don’t Miss the Tracy Green Show!

November 2, 2011 2:00 p.m. Courtroom 201 1300 Clay Street Oakland, California.

Come one, come all to hear Ms. Green’s motion on behalf of the esteemed creditor’s committee to move the Walter Ng Bankruptcy to Chapter 7. Didn’t Judge Efremsky already suggest this a while back. . .?

As usual, get there early because seating is limited. Let’s be nice and try to save a few seats for the FBI, SEC and Dept of Labor.

Also, if you could not make it to the October 25th Walter Ng Status Conference, here’s an update:

Continue reading

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

Is Walter Guilty of Perjury?

Read this document -> Brower Status Statement 8_16_11-1  <- and decide for yourself.

August 23 Bankruptcy Hearing