I have been told that a recent release from Bickel and Brewer indicated that Great White had sued various  direct lenders. I should wish to point out that Great White filed suit primarily,against the attorneys, that sued Great White sense their objectives were to try and force Silar into settlement. The  counterclaim lawsuit (filed in response to their litigation )  filed by me and Great White is called a “Slapp Suit”and typically it is filed in state court when someone tries to suppress your right to exercise the First Amendment rights (under the United States Constitution), which is, freedom of expression. BB was wrong in filing the suit and it was filed to harass an intimidate GW and myself. We have warned BB to drop the litigation or they will face severe sanctions and damages.  In fact when BB needed to discuss the Mesirow litigation,  GW presented the facts in a volunteer effort to help all direct lenders without regard to compensation.

GW sought to sue the lawyers and not Direct Lenders unless their motives were malicious and intentional.  Several DL reprimanded Bickel for filing such a suit (with out theirr knowledge or approval) and immediately demanded GW be dismissed from the suit.  Other DLs simply did not know what was going on and remained in the suit.

GW would like all of this to be put behind  us. No one will be happy with the final results, but we are facing difficult times, decreasing property values, and frustration at the legal system.  GW believes that Mesirow should have been sued long ago and certainly it may be looked at if this deal is concluded.   If you are a GW client and BB client, GW takes the position that your funds will not be frozen but belong to you.     This matter is technical and perhaps is the most complex case I’ve ever seen.  But, lets move on and get the settlement done, collect what we can, solve problems that we can and make the best of a miserable situation.  As we said years ago, Mesirow should have its ass sued off for what they have done along with the bankruptcy attorneys that ignored the assets stolen from the creditors (that GW brought to the attention of the Bankruptcy court in 2006) ).  In this climate many questions cannot be answered but remain to be resolved into the future. Lets move on and hope for a better day.

Serious questions arise concerning rights under the USA loans concerning the individual rights of note holders to sue.  The attached motions, and judgment obtained by Terry Coffing, an attorney in Nevada — in this ruling — regarding the Godines guarantee,  gives individual lenders the rights to sue in Nevada notwithstanding the fact that many issues were raised objecting to the judgment. These included,  that only the servicer could sue, 51% were required to vote for the suit; Texas is the proper jurisdiction;  and in fact counterclaims existed against the servicer which needed to be examined in discovery.  The court dismissed all these arguments and ruled  for Coffing. Very interesting decision which we understand has been contradicted in some other rulings out of state.

Add the ARC bankruptcy trustee’s rights, issues pertaining to the constitutionality of the 51% ruling,  principal and agent liability issues, etc,  and all hell could break lo0se.  Who ever said the “no one was smart enough fo the law”?   or is is just luck of the Judge draw?

A good friend  82 yrs. old now, (DS) is being sued for $ 5 million by an investment firm — Multi-Bank.  (MB) Apparently MB formed an investment LLC to buy up bank foreclosed properties and share the proceeds– obviously seeking to  profit from his  misery. DS was  talked into a deal that resulted in DS signing on a note on his property being developed by an unscrupulous developer/broker.   This gentle and good man has an old office building left with negative cash flow but MB wants it sold with them getting a split to settle the debt.  His atty resigned, (since DS was out of money) he was shoveling leaves when I stopped by to just say hi to an old friend.  He looked worn and tired. He explained his story and how he signed documents not knowing what they were  and how he was now facing losing everything.  We did get him counsel and then he said “They  (MB) cannot have this building since “it is dedicated to God and anyone that takes this building will have God’s justice visited upon them. ” — he also mentioned that their were 2,000 people praying for him and things will be fine.

Call it foolish ramblings if you like, but frankly– I believe him that things will  turn out alright since unseen forces may indeed be in play—

Recently, Amesbury lenders voted to form an LLC and to accept a loan to help preserve the asset.  I voted for it also.  Those individual lenders that in good faith and with the best of intentions should be careful when  pursing such endeavors.   since one good lawsuit against you can occupy your time for years and create a lot of frustration.  For instance, each action, although well intentioned,  can create issues which the target –borrower can use against you in counterclaims and to defeat your claim.  Collecting from bad guys is not a business for the faint of heart.  Expect lawsuits, stress and constant complex decisions to occupy your future. Good Luck!  (Oh, did I mentioned the threats against your life including fire bombings that come along occasionally from some targets that want to get your attention and that just may take the law into their own hands ?)