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Recent Receivership questions
I'm not sure if I need a lawyer who specializes in
Hi - I'm not sure if I need a lawyer who specializes in bankruptcy or litigation, so will briefly describe my situation before asking any questions:My husband and myself entered the U.S. three years ago with an EB5 visa, whereby we invested $500,000. in the Jay Peak project in Vermont.This project was being run by Bill Stenger and the owner of Jay Peak, Ariel Quiros, who have since been charged with fraud for using the 700 investors funds for personal use, etc. (all this has been reported in the VTDigger Newspaper, Vermont). The project was also endorsed by several politicians, who were also required to oversee the operation of the projects with quarterly financial statements ( which they never did).Jay Peak is now in receivership and the receiver is Michael Goldberg, Miami.We were informed of this last week and know that our $500,000. as well as our Green Card is in serious jeopardy.Our immigration lawyer, as soon as the news was announced, used scare tactics to try to have us sign with his firm and said it would be first come, first served, regarding any available money after liquidation. We contacted Michael Goldberg, who told us this was not the case and to do nothing and sign nothing, as everything would be divided equally and fairly. We informed our lawyer of this, but he still wants to have a meeting with us, himself, and another lawyer, who deals in litigation.We realize that we should do nothing with Jay Peak, as the receiver suggested, but I feel we are ignorant of the facts pertaining to other possible lawsuits e.g. the government officials who neglected to oversee the project and the companies who arranged and recommended Jay Peak as an EB5 investment (one investor has already initiated a class actoin suit against his investment banker).Our lawyer is very insistent on a meeting and we would like to be aware of some facts before meeting with him. The following questions arise as far as suing the government officials and others who were involved :- would investors be able to sue third parties as individuals and would it be first come, first served with the courts? (This would then mean that there would be no money left for remaining investors to sue).or- would it have to be in the form of a class action?- would investors receive notification of any of these class actions?- do we have to sign with our lawyer, so that "we will not be left behind and will be too late to make any future claims" - we hesitate to do this as we would like to keep our options open and do not trust our lawyer because of his initial mis-information and scare tactics.- how many plaintiffs have to be involved for a class action? Our lawyer represents eleven EB5 investors.- do you have any idea why he is being so insistent? We are not niave enough to think it is purely to help us.- what would you do in this situation? Is there an urgency to sign with a lawyer at this point regarding future lawsuits?Many thanks, ***** ***** meantime and I look forward to your response, Ella
I am aphysician owner of an LLC imaging center.
I am aphysician owner of an LLC imaging center.Filed chapter 11 in Feb.Chapt 11 trustee asked the court to vonvert to Chapter 7 in about 1 month.NOw have a Florida state receiver.The real estate and all equipmment is encumbered by one mortgage..Includiing all computers and storage systemsWho is reponsible for giving patients their their imaging records .The receiver who has compelete control Ndc is the receiver of AR income
My husband has been sued as a business, but now the business
My husband has been sued as a business, but now the business is closed so the man suing has gnome against ohm personally, my husband lost the suit because web could not afford an attorney. Now the man has taken the win to a "receiverships" attorney and they said they were going to take everything we own deem it exempt or not exempt then we could have back what was exempt. Another attorney gave us free advice ( small town attorney) and he said for us to get a divorce, homestead our home that we rent and do not own, and file chapter 7 bankruptcy. My husband said if we file bankruptcy then they cannot touch us, but I want to know if that is true,if we file chapter 7 tomorrow, will that remove everything and they can't enter our home to remove property??? We I've in Texas.
I plan to file for bankruptcy in 6 months. Can I transfer non-exempt
I plan to file for bankruptcy in 6 months. Can I transfer non-exempt property (firearms and wedding rings) to my mother to repay a loan to her for down payment on a home I purchased previously? I want to transfer this property sooner than 120 days before I file bankruptcy so I shouldn't have to show it when I submit my Statement of Financial Affairs on Form B7 under Paragraph 6, Assignments and Receiverships. Is my interpretation correct since she is a preferred insider creditor? Do trustees have the ability to see what firearms I have previously purchased through the background checks I had to complete? Thanks. Terry
I plan to file for bankruptcy in 6 months. Can I transfer
I plan to file for bankruptcy in 6 months. Can I transfer non-exempt property (firearms and wedding rings) to my mother to repay a loan to her for down payment on a home I purchased previously? I want to transfer this property sooner than 120 days before I file bankruptcy so I shouldn't have to show it when I submit my Statement of Financial Affairs on Form B7 under Paragraph 6, Assignments and Receiverships. Is my interpretation correct since she is a preferred insider creditor?Do trustees have the ability to see what firearms I have previously purchased through the background checks I had to complete? Thanks.Terry
I am completing a final report and requesting dismissal as
I am completing a final report and requesting dismissal as a General Receiver. Business is insolvent, stopped operation 01-2011. Company has no assets. Per court I provided numerous reports reporting investigation and results of exhaustive forensic accounting review. Parties have settled. No funds to pay creditors, some include tax authorities. 1-2 prior year tas returns not done while this investigation was going on. I have provided all reports per 7.60.100 WA rcw except tax disclosure as I was waiting to see if it went to trial or if parties settled. They settled. Imay have several questions if someone will work with me here I would appreciate it. Since the parties settled case is over -- Can you give me guidance on my final steps with the court and creditors---thanks
In Nov of last year I was granted a C7 (no asset) dischargeView more bankruptcy law questions
In Nov of last year I was granted a C7 (no asset) discharge in Boston that amongst other things, discharged my personal liability for a loan guarantee that I had signed for a business that I owned/operated many years before that went into receivership before being dissolved. As part of that guarantee for the business bank loan, we gave them a mortgage against our primary residence. Here's my question, as the mortgage was part of my personal guarantee/liability for the business loan and my personal liability for the guarantee was discharged, doesn't that also eliminate the lien/mortgage that it was tied to ? The bank has dropped their civil action against me as part of the discharge, but refuses to remove the lien saying the court didn't require them to do so.