Cartwright took advantage of a 82 year old man costing him millions in loss of property along with exposure to personal liability on deficiencies, while he dodged liability himself.  Cartwright,  through deception and manipulation used an LLC to encumber the victims assets while spinning off his transferred assets without liability.  He orchestrated the subsequent litigation to cost the victim thousands in legal fees while secretly making a side deal for himself, which violated his fiduciary duty.   Piranha hedge funds that buy defunct loans for a fraction of the face value of insolvent financial institutions are protected from counter-claims under federal law and now Clark County Courts are split on whether Senate Bill 273 should be retroactive and limit damages against defaulting borrowers.  In our view, the Judges should lean on the side of protecting the borrowers from over-zealous carpetbaggers that seek to profit from such unfortunate circumstances.   Cartwright, a self described film promoter, car salesman, developer, and anything you want him to be for  dollar,  now has regulators and law enforcement looking at him.

Krista Black, (the trust deed queen) created her own menagerie of investments options, which were so confusing and complex even she lost track, thereby creating a rats nest of problems.  The Utah State Securities Division may look into this one. She has a good lawyer,  since he limited the jail term of Hammons to one year for similar actions in the same town, St. George, Utah.

No Trustee should submit ex-parte motions on selling assets, especially when conflicting positions may be at stake unless testimony is taken rather than affidavits.    Having testified in bankruptcy court , it is the best way to determine the truth and avoid  hidden agendas.  This is the basis of the Comvest objection.   I know I’m old school but I like to see the whites of their eyes on that stand under penalty of perjury.

Besides arguing about future Silar loans (designed to preserve assets and flush out co-borrowers) Duncan, Stubbs and the usual suspects continue to argue about everything under the sun.  Jones ruled that Cross fees are subject to review by him but Duncan disagrees and apparently is filing a bankruptcy lawsuit to determine just that.  Duncan is at odds with the new Silar liquidating trust since undoubtedly, he sees a trim back of his accrued fees on the horizon. (Jones doesn’t really like the Texas agreement, with its arbitration provisions and self serving fee accruals)  Duncan was having a garage sale of his own on serviced assets before the liquidation trust was formed for just that purpose.  The Trust wants to slow down,  pursue a more deliberate course of action and hopefully recoup more money for hopefully DLs.  A recent loan approved by Jones against the liquidation desires of Duncan brought to light the conflicts. /// On another matter, a federal tax case subpoena required docs from Stubbs and Cross but they were no shows.   I don’t think a federal judge will be that pleased with their arrogance.

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