Part 2 – Plot or Practical Approach

NOW REMEMBER – Kevin Padrick was supposed to be working for Summit 1031 at this point as an advisor to them on assisting THEM with their Chapter 11 Bankruptcy – Debtor in Possession – As advised by their Attorney’s Sussman Shank.

Brian Stevens: From our very minimal discussions with Sussman, Sussman said there wasn’t much communication from Obsidian. After you gave your presentation to the creditors’ committee, someone sent us a power point. And that was kind of an overall….I was still on the….. It’s like, gosh, what’s being done other than than selling this thing to the creditors? I think that’s what our mistrust was…. It felt like, you know, you guys were hired…. We had a little bit of relationship established and then it disappeared. It felt like everything was towards the creditors. We felt we had a…. really our motivation is the same as yours which is to get money to the creditors. Why aren’t we being used in any way while like, hey, we’re looking,at this property. We offered up our assistance. I totally realize the creditors don’t trust us, but it seems like you guys could have used us in some way throughout this. That was, I guess, the frustrating thing so that the farther this went along the more I felt that there was almost like a plot. Like there was a plot all along to… okay, we’ve got the money from them these guys, and here’s our plot. And then, and not working out a solution with lots of players involved.

Clip from Part 2

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