, Obsidian Finance Group planned to liquidate Summit, their own clients from the start, as you see admitted in the Patty Whittington Trial Transcripts.
Pro Se Defendant Crystal Cox is Questioning Obsidian Finance VP, Patty Whittington, here is Page 109, Line 12 of the Obsidian V. Cox Trial Transcripts,
Ms. Cox: ? ????? ? ? ? ? ? ?Q. Are you aware that Obsidian Finance Group had a?contract with Summit at any time?
Patricia Whittington: ? ?A. You'll have to -- Summit?
Ms. Cox:??Q. Summit Accommodators?
Patricia Whittington:? ?A. I think -- I actually don't know if it was ever?approved by the bankruptcy court. So there was a draft,?I do know. I don't know whether it was approved by the?bankruptcy court."
The Contract that Summit had with Obsidian Finance Group, as Patty Whittington FULLY Knows, was BEFORE Summit Filed for Bankruptcy and therefore the Bankruptcy Courts were not yet involved, right?
Obsidian Finance Group's VP Patty Whittington took in $100,000,?and put this permanently into the "books".?There was no refund of this money, I clarified this in the Obsidian V. Cox Trial.?
This money was taken for a contract she signed, for one of the Obsidian Finance Group Principals / Owners, Kevin Padrick. ?She claims here that she does not know if it was ever approved. This is a Lie, it had to be approved at some point, after the bankruptcy was fully underway, or they would not have been allowed by Bankruptcy Codes, to keep the money.??It is also a lie that she believed it was a draft. ?As, a company such as Summit, would not give?Obsidian Finance Group $100,000 retainer?and sign a contractual agreement that was a?"draft". This is a LIE.?
Again, the contract was signed?between Summit and Obsidian Finance Group, BEFORE Summit Filed for Bankruptcy.??Later, as we see in the hearing where?Judge Randall Dunn forced Kevin Padrick in as Trustee, you can here Bankruptcy Insider Stephanie Studebaker DeYoung asking Judge Dunn about the Summit Contract with Obsidian, and Judge Dunn, at this hearing says he did not approve the Summit Contract with Obsidian so the retainer is irrelevant, and the conflict of interest issue is no issue. Yet, at a later date, Judge Randall Dunn did approve this fee, so that Obsidian Finance Group could keep that $100,000, no questions asked.?
To listen to Judge Dunn Hearing Forcing Kevin Padrick as Trustee click on link below and see Judge Dunn Hearing in Upper Left. ( also note the Jurisdiction Issues that Judge Dunn Pushed for. As he did not have power over certain things until later)
Also, again, keep in mind,?the Retainer, the Contract between Obsidian Finance Group and SUMMIT was BEFORE a Bankruptcy Judge was involved.?Summit was the Client of Obsidian Finance Group, BEFORE Summit Filed for Bankruptcy. And before Judge Randall Dunn had any super powers of the Summit Bankruptcy and related fees, contracts.This money was taken in such a way, as she knows that a bankruptcy judge would have to "approve" those fees, and as of November 2011, at this Trial, Patty Whittington does not know if this fee was "approved by the?bankruptcy court"? Really?
How can this be when clearly almost 2 years had passed, and as Patty Whittington tells us in this transcript, Obsidian took this money onto their books with no refund given. And yet she does not know if it was?"approved by the?bankruptcy court", this is illegal right?
Ms. Cox:??Q. What is the difference between the Summit?Accommodators and the Summit 1031 exchange, just for?clarity?
Patricia Whittington:?A. According to my information, it was -- one was a dba,?doing business as, and one was the company.
Q. Were they the same owners?
A. To my knowledge,?yes.
Q. Have you read any other derogatory blogs that say?anything negative about Obsidian in any way?
A. Yes.
Q. Can you tell me what blogs besides the defendant's,?mine?
A.?No other ones besides yours."
Really? How can this be True? This is a Lie, as there were numerous negative press about Obsidian Finance Group out there. And Patty Whittington knew full well that my Blogs were not the only ones, and that my blogs were AFTER the other blogs / articles and reporting on them. Also Note that Summit Accommodators and Summit 1031 is the same people.
***********
A Bit more Regarding the Debtor in Possession Vs. Liquidation Issue
This Press Release written by Sussman Shank,?
also talks about Obsidian being "Retained".
This seems to say, maybe deliberately, that Terry Vance retained Obsidian Finance Group, however Obsidian was on board before the bankruptcy filing. Obsidian Finance Group Was hired by Summit. Terry Vance, CRO was recommended by Sussman Shank, for the Debtor in Possession Bankruptcy.We continue with Ms. Cox questioning Patty Whittington, Obsidian Finance VP
Ms. Cox: ??Q. Was -- you're saying -- you're testifying that?Obsidian -- that Summit was in bankruptcy when they hired?Obsidian Finance Group.
Patricia Whittington: ? ? ?A. To my knowledge, yes. We weren't -- we didn't work?for them before."
What??She said we did not work for them??She had just testified above that Summit was a client, and?that Obsidian Finance Group took a $100,000 retainer, of which NONE was Refunded.??Obsidian Finance Group did work for Summit.??Obsidian Finance Group met with Summit, took their books and spreadsheets, got privileged information and this started before the contract was signed. ?The?Obsidian Finance Group contract with Summit was signed, was a contractual obligation BEFORE Summit Filed for Bankruptcy, this is a FACT.
Why are so many focused on the Blogger getting the message out there, instead of auditing the Summit Bankruptcy. Is there Bankruptcy Code Violations or Not? Is there Tax Code Violations or Not?
Ms. Cox: ??Q. Mr. Padrick testified earlier that he was -- talked?to the Summit principals before they filed for
bankruptcy. The records show that he was under contract.?This contract was before the Summit principals filed for?bankruptcy. And you signed this contract?
Patricia Whittington: ? ?A. We do those in connection with the bankruptcy. So I?don't know the exact dates. It was about -- just about?three years ago. But if we were working on it, it was?just starting at the time of the bankruptcy filing. They?were preparing to file or something like that."
Something like that? Well yes they were preparing and part of that preparing was hiring Obsidian to help restructure debt, NOT to hire Obsidian to participate in a hostile takeover, set up his clients, get everyone fired and seize assets, bank accounts, property and more. Obsidian was NOT involved to Liquidate in a way that Summit would cease to be.?
The Summit Bankruptcy was ?debtor in possession, that is why they hired a Chief Restructuring Officer (CRO), Terry Vance. Though you see in the?Mark Neuman Deposition?that David Aman was leading the witness and calling it a liquidity crisis, it was not.
Here is the Mark Neuman Deposition
http://www.docstoc.com/docs/101645262/Mark-Neuman-Deposition---Kevin-Padrick-Obsidian-Finance-Group---David-Aman-Tonkon-TorpSummit did plan to "Go On".?
Kevin Padrick, Obsidian Finance Group made sure that the business only went on for his pay check, he drowned the Summit Business for his personal gain. And he set up his own clients to be indicted for it. This, using political, judicial and media connections provided a great smoke screen to where the money was really going.?
Ms. Cox: ?Q. But you are in agreement that Obsidian Finance Group?was in contract to represent Summit and took money for?those services?
Patricia Whittington:?A. We had that agreement, yes.
Ms. Cox: ??Q. And that Summit was -- so Obsidian Finance had a?contractual obligation to the Summit principals?
THE COURT: You've asked that question several?times now, and it's already been answered several times.
Ms. Cox: ??Okay.
BY?Ms. Cox: ?: (continuing)
Ms. Cox: ?Q. What are the pros and cons between?a liquidating?trust versus a debtor in possession?of reorganizing a?debt, in your opinion, or your professional opinion and?experience?
Patricia Whittington: ?A. I think it's a legal question. If you would like?my -- my understanding,?debtor in possession?reorganization means the company goes on. Liquidating?trust, the company is liquidating; it does not go on. "
It is my understanding that Summit was trying?to?"Restructure"?debt?so they could, as a company, go on. That was the only reason to hire Obsidian Finance Group in the First Place.?Obsidian Finance Group was brought to the Summit Financial Situation by Summit,?NOT by the Creditors Committee or Related Parties.?Obsidian Finance Group was recommended to Summit by Bill Smith, of William Smith Properties in Bend Oregon.
Obsidian Finance Group?directly interfered with the companies ability to?"go on". The only reason to have a CRO, Chief Restructuring Office such as Terry Vance, was to Restructure, NOT to Liquidate and Cease but to, instead "go on".
Ms. Cox:?Q. So Obsidian Finance Group was under contract with?Summit when they were trying to reorganize their debt;?and a liquidating trust, then, is part of a bankruptcy,?which happens later?
Patricia?Whittington: ?A. I -- I don't know what the contract says. I don't?remember it ever as a reorganization. I always recall it?as a liquidation."
Well that is not what the contract seems to say. The contract, in Schedule A seems to say that "Services" are all about restructuring alternatives, forming plans to reorganize, and more. Did Patty Whittington not even read this contract she signed for Obsidian Principal Kevin Padrick? Investigative Blogger Crystal Cox, me, says that?Obsidian Finance Group set up their own clients, violated contractual obligations and it sure seems that?Obsidian Finance Group, Kevin Padrick was an Insider and was not legally allowed, according to Bankruptcy Code, to be a Trustee.
Take a Look for Yourself at Bankruptcy Code
Look close at?Bankruptcy Code 1104(a)http://www.law.cornell.edu/uscode/usc_sec_11_00001104----000-.html
It sure seems that the Bankruptcy Courts broke this LAW.
And look at?Bankruptcy Code. See 11 U.S.C. ? 101(31). Sure seems to me that Kevin Padrick was an Insider and NOT a "Disinterested Party".
"In looking at?Bankruptcy Code. See 11 U.S.C. ? 101(31),?it sure seems to be suggesting that, as a legally
defined Insider, under contract to advise the Debtor, that Kevin Padrick of Obsidian Finance Group was not
legally allowed to?be "appointed"?as the Trustee in the Summit Bankruptcy, Not sure if this is Fact, However, if you dig deep, surely you would, at least have some questions in all this.
Bankruptcy Code. See 11 U.S.C. ? 101(31)
"(14) The term?"disinterested person"?means a person that
(A) is not a creditor, an equity security holder, or an?insider;
(B) is not and was not, within 2 years before the date of the filing of the petition, a director, officer, or
employee of the debtor; and
(C) does not have an interest materially adverse to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the
debtor, or for any other reason."
Above Quoted from
http://doney.net/bkcode/11usc0101.htm
Back to?Ms. Cox: Questioning?Patricia?Whittington under Oath.
Ms. Cox:? ?Q. This contract with Obsidian Finance Group wasn't to?help them reorganize?
Patricia?Whittington: ?A. Unless it says that. In bankruptcy, you can be in?Chapter 11 and be liquidating."
Oh now she says, well if it says that. What? It does say that. The Contract that Obsidian Finance Group had with Summit, clearly spells out that they were hired to help "reorganize" and NOT to Liquidate.
Ms. Cox:??Q. I'm not an attorney either --
Patricia?Whittington:?A. Yeah.
Ms. Cox:??Q. -- or a CPA. I'm not sure what this contract means,?that Obsidian Finance Group was obligated to Summit. Can?I -- can you tell me what this contract says the?obligation from Obsidian to Summit is?
Patricia?Whittington:?A. I would have to read the whole thing, think about it.?I don't know. It was three years ago. It is what it?says. I'm telling you my memory is it was a liquidation,?not a reorganization."
It is what it Says. ?Hmmm, it sure does not look like it is what it says. ?Obsidian Finance Group was hired to reorganize. One can clearly see what?Obsidian Finance Group was in a contract with Summit to do. Sure seems to me that?Obsidian Finance Group?did?Breach this contract?for?"Reorganization". And that?Obsidian Finance Group was an insider with privileged information, that?Obsidian Finance Group, Kevin Padrick used against Summit to set them up and to make Millions a Year for 5 years.
Ms. Cox:? ?Q. Are you aware of any privileged or financial?information that Summit -- that Summit provided Obsidian?Finance Group before their bankruptcy?
Patricia?Whittington?A. Privileged? No.
Ms. Cox:? ?Q. Did -- was there any software, any database at all?that Summit turned over to Obsidian, where Obsidian would?know any financial information about them before they?were involved as a trustee?
Patricia?Whittington?A. Before trustee?
Ms. Cox:??Q. Before they were appointed --
Patricia?Whittington?A. Trustee wasn't until February. So yes, after the?bankruptcy."
So yes then NO ?
She seems to be saying that the information was given after the filing for bankruptcy, after Kevin was a Trustee, however this is simply NOT TRUE. ?Obsidian Finance Group, Kevin Padrick, Ewan Rose and others, DID get privileged information, did have access to a massive database of information and this WAS,?BEFORE Kevin Padrick was Appointed as Trustee. ?Patricia Whittington, is knowingly lying under oath here. As she had to know that?Obsidian Finance Group got the privileged information, the spreadsheets and data, at the time of the?Ms. Cox:??Q. Do you feel that Obsidian Finance Group ethically and?legally honored their contract with Summit?
Patricia?Whittington ?A. Yes, I do.
Ms. Cox:??Q. Do you have any proof that this exact blog post?caused any financial damages on your books to --
caused -- that anybody told you this exact blog post?caused a certain amount of provable financial damage to?Obsidian Finance?
Patricia?Whittington ?A. I can't prove what people looked at.
Ms. Cox:?: Thank you. No further questions."
That Concludes the part of this Post where Patty Whittington, Obsidian Finance Group VP is under oath.
Here is What David Brown, Obsidian Principal had to Say, I mean Lie about, under oath, on these issues
http://obsidianfinancesucks.blogspot.com/2012/02/david-w-brown-obsidian-finance-group.htm
Here is a Bit about the Contract that Kevin Padrick had to Say Under Oath
?http://kevinpadrickobsidianfinance.blogspot.com/2012/04/
kevin-padricks-testimony-in-obsidian-v.html
Source: http://www.obsidianfinancesucks.com/2012/10/the-summit-bankruptcy-was-debtor-in_25.html
the bachelor finale march madness bracket south by southwest i want to know what love is courtney mercury retrograde bath salts
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন