Registered: 1463515311 Posts: 14
Reply with quote #16
Perhaps I did misread the Trustee's Motion to return stored bullion filed at the end of June. I thought it showed about10% of what is supposed to be there might be returned. I do take your point that some deep drilling into the evidence is definitely called for and some explanation as to the purpose of billing for contempt motions vs a restraining order under SEVERE "no recourse" penalties. This in consideration of the Drama spelled out in the Contempt Motion.
Registered: 1463898278 Posts: 55
Reply with quote #17
I just spent hours reading court documents leading up to Friday's hearing 8/5/16 that hasn't been posted yet. All the He said/She said and they said sure takes on a different picture depending on who your hearing it from. What I'd like to know is what this trustee has been doing when he's been out of the office for weeks at a time? Sounds like the Judge has a serious problem on his hands when it comes to deciding who owns what when it comes to this up for grabs Medallic company.
Registered: 1463898278 Posts: 55
Reply with quote #18
Well it doesn't look like this Judge is rolling over for the trustee on much of anything right now. Gave back the Attorney fee's to the girl friend that the trustee demanded to keep. dismissed all of the charges against Hansen for violating the court order except one and the trustee has to re-submit new documents for that one remaining claim and it was minor compared to all the others. Then the Trustee posted a profit in May, but didn't disclose the fact he has confiscated all of the company profits, equipment and inventory belonging to Medallic as if it was not in dispute. I did notice he posted legal fees for the months of April and May totaling $685K and growing. I can't imagine what the costs will be for the legal fight he plans to wage for control of Medallic. Not to mention how much of these profits he is posting now he may have to start giving up to the owners of Medallic even before that fight has taken place. I'm still waiting for the trustee to post how much inventory was actually found and what the value of NWTM is in total if sold off versus not telling anyone anything and assuming it has no real value and it's better for him to just keep running the show as he's now doing with his plans on winning control of Medallic for a better deal to sell next year. One has to wonder just how many millions in legal expenses he has in mind to run up over the next year, which "is" coming out of everyone else's pocket I'm sure but his own. I don't trust lawyers and especially this guy!!!! He's hiding the most basic facts and doesn't think anyone is paying attention. Just think about how much money might be left for the creditors a year from now if he loses his fight for control of Medallic and has to payback all the fees they demand they are due right now along with all the inventory he has been selling that they claim belongs to them, not to mention all those attorney fees. I'm not saying he's wrong, but if he is, it's going to be a much greater disaster for the creditors and without any information as to what the actual value of NWTM is today, how can anyone make any kind of determination as to which way the company should proceed. Sell or try and salvage parts of it.
Registered: 1463515311 Posts: 14
Reply with quote #19
I just reviewed the most recent Trustee report for January operations..... Looks like "Bulls**##@!!!
I am going to " HAVE TO " agree with 'Old AG'.
The entire attempt at running this Company, the reorganizing effort, by the Trustee is a "Certified" Cluster F#*k. We ARE being Screwed Blue by Vultures. They appear to be charging us $100 for every "one penny" that they expect to return to us.
The money that they are "Savaging" out of that company " IS " the money that we sent in.
In the January operations Report (among other things) I believe I saw 5 different phone companies being payed over $10,000 for January ... WTF !!??
AT&T IS THE MOST Expensive phone company in America. What idiotic Manager spends money that way ?... out of a company that is trying to reorganize ?
I'm so angry I could Spit. Just look at the INSURANCE BILLS.
I Suspect that NONE OF THE EXPENSES were Pre-Vetted.
This Company Bankruptcy started in a $55 mil. Hole. Adding up everything that's been spent Trusteeing plus what's been sold plus payed out to employee Thievery and Thieves, plus phone companies, gas companies, water companies, trash companies, and on and on and on. They should have been at the back of the line and our money refunded to a maximum percentage. I would have leveraged my refund ( whatever it was) and by so doing increased it to more than 50% of my original Money Order within 10 years. With that, plus throw Hanson, his mob, and wife into prison (forever); I would move on with my life. Instead I see Vultures "Raping" the Carcass of it's Marrow and Bone while handing detritus out to anyone "BUT" Us. The Trustee is spending money like it was his... It's NOT... Its ours. It's the money that We Sent in.
The employees have unemployment insurance. The vendors have a write off loss and/or business loss insurance. The landlords still have their real estate and can re-rent ( it's not as if their buildings never sat empty before), the taxes lost are absorbed by the taxing entities ( it's not as if they don't already have properties that are not producing taxes as I write this). Insurance companies don't need it (it's not as if they are Claim Burdened by NWTM).
THE ONLY Real Losers in this Robbery is Us.
The Trustee should get his cash (a reasonable amount) from the State (via the AG's Office) in exchange we would agree NOT to Sue their Asses for failing in their Duty to Police this Predator.
I believe that the State of Texas has a Victims of Crime Fund (presumably for Crimes committed in Texas). I believe that may speak to a certain Spirit within our Laws. Seattle appears to resemble a Criminal Enterprise. I will never shop in, travel in or speak well of Seattle (or the State of Washington) ever again. If their Volcanoes blow, I will not volunteer to go there with the Red Cross; I will send no assistance. If it falls into the Ocean I shall not weep. My disgust with those who Operate that State has drained away my compassion. I will take no Glee in the suffering that God may bring to the Criminals there. I will simply focus my compassion, energy and attention onto those who deserve and appreciate all that I have to share.