I am having a hard time wrapping my brain around why I am getting charged with a crime. This presentation was Semi-Public, Unconcealed, & Approved by the Court (Judge Randall Dunn) on 2/11/09.

Kevin Padrick and I set the time of the presentation to be 10:00AM on 2/12/09.

I arrived at the Summit Bend offices around 9:45AM. I asked Terry Vance, the Chief Restructuring Officer of Summit Accommodators Inc Chapter 11 DIP (Debtor in Possession) Bankruptcy Case No. 08-37031-rld11.

THE MOTION TO APPOINT A TRUSTEE WAS BROUGHT UP AND GRANTED AT THE 2/11/09 HEARING, BUT AT THE END OF THE HEARING, TERRY VANCE WAS STILL IN CHARGE AS CHIEF RESTRUCTURING OFFICER. THE COURT AND US TRUSTEE’S OFFICE DIDN’T MOTION FOR THE APPOINTMENT OF KEVIN PADRICK UNTIL 2/13/09.

Upon arriving to this once thriving office space, I asked Terry Vance if we should be recording this presentation. He said, “What kind of recording device do you have?” I said, “a Webcam.” He Said, “Bring it in.”. I showed him the laptop with a webcam and he said I could set it up. I turned on the Webcam at 9:53 AM, Kevin was supposed to be there at 10AM. Ewan Rose and Ryan Norwood (Obsidian Finance Employees were already at the office rummaging through the files.

So, Again, I ask myself “Why am I being charged of a crime?”. Why is the Court Authorized CRO, Terry Vance, who authorized the recording not being called into Question? Why aren’t the Summit Principals who knew about the recording and my Step-Mom, Jan, the only other public interest who attended this presentation besides myself, being questioned and harassed by the local DA because Kevin Padrick said so.

BECAUSE I AM A THREAT TO KEVIN PADRICK. BECAUSE WHEN I KEEP TELLING THE TRUTH ABOUT THESE WRONGDOINGS, HE HAS TO PROTECT THE $6.5 MILLION HE STANDS TO MAKE FOR HIS ROLE AS, FINANCIAL CONSULTANT TO THE CRO – OOPS I MEAN – INSTANT LIQUIDATING TRUSTEE.

Not so sure what I did that was illegal. I recorded this presentation with Good Faith that it was a legal recording. I also posted it after having my attorney research it…meaning I posted it with Good Faith as well.

It isn’t really about the legality of the video? They don’t even investigate the matter. The Deschutes County DA’s office just listens to Kevin Padrick and when he says jump, they say how high. Oh Kevin the all powerfull attorney, are you used to everyone bending over for you? Sorry, but I don’t bend over for people that have no care for other human beings no matter how Powerful you perceive yourself to be. Yes, I used your favorite word – Perceive. Count how many times Kevin Padrick says the word Perception or Perceive at the Presentation…

Click Here to View the “Professionals” and their “Amazing Presentation”

BELOW ARE SOME HIGHLIGHTS FROM THE RECORDING OF THE “WAITING FOR KEVIN TO LAND HIS PLANE SO WE COULD FIND OUT WHAT THIS AMAZING PRESENTATION WAS ABOUT AND HOW OBSIDIAN FINANCE WAS GOING TO BRING VALUE TO THE SUMMIT BANKRUPTCY ESTATE” PART OF THE BANKRUPTCY PROCEEDINGS.

Click here for Complete Transcription

Stephanie: This has a camera on it. You need to leave this and tell them not to mind this. I already asked Terry and he said fine, bring it in.

Jan: OK

skip…
Stephanie: So, do you think you could attend?

Terry: I can do anything I want [MEANING HE WAS IN CHARGE AT THE TIME]

Stephanie: I want to know if you want to attend.

Terry: Well, it’s going to be interesting.

Stephanie: I think it would be beneficial if you attended.

Mark: I think it keeps it real honest.

Terry: That’s an impossibility!
skip…
Terry: Do you got it on now?

Stephanie: Yah.

Terry: So you’re just recording it right?

Stephanie: Yes.

skip…
Terry: He doesn’t drive, I don’t think.

Stephanie: He doesn’t?

Tim: He flies.

Terry: He flies.

Stephanie: Oh, maybe he was flying back this morning.

skip…
Stephanie: And Susan did agree with…I said that Terry has a working knowledge. He’s been working there (Summit) day in and day out trying to find out what’s going on here.

Terry: You know it would have been a long time ago if they would have just gotten out of the way.

Watch the Recording for yourself…

Part 1 – Waiting for Kevin Padrick to arrive by plane…

Part 2 – Waiting for Kevin Padrick to arrive by plane…Cont.

Kevin Arrives – Hooray!

Part 1 – Kevin Says IF have questions DEPOSE him??
Part 2 – Plot or Practical Approach?
Part 3 – Perception or Deception?
Part 4 – We Want The Exchangers to Get Paid Back!
Part 5 – We’re here to cooperate!
Part 6 – MORE – We Want the Exchangers to Get Paid Back!

Summit 1031 BK Reporting by Stephanie Studebaker-DeYoung

The above video is 20 minutes of the story as I see it to date…

“Click Here to SEE TIME Kevin Padrick Spent With Steve Hedberg of Perkins Coie Re: CRO Substitution”

This time looks to be for time with Steve Hedberg, Kevin Padrick, & Tom Stilley for Conferences RE: CRO Substitution and Susan Ford Email. I need to get this email because there was something in the email that made every one upset???? Although, Lane said at the presentation that he read the email and didn’t see what would make everybody so angry.

Here is the page with attorney connections…

Players with connections so far. Some more connected then others.

Pamela Griffith, Assistant US Trustee – Worked with Leon Simson of Tonkon Torp when she was at Ransom, Blackman and Simson - Tonkon Torp got paid only due to the Switch from Terry Vance CRO and Kevin Padrick CRO/Trustee.

Steve Hedberg, Senior Principal, but not really lead attorney of Perkins Coie. Lead attorney is Jeanette Thomas. However, Kevin Padrick is not having conferences on the CRO substitution with Jeanette Thomas. Instead he is conferencing with Steve Hedberg who worked under Kevin Padrick at Miller Nash.  Steve Hedberg, Leon Simpson and Kevin Padrick all worked together at Miller Nash.

Leon Simson, Senior Attny of Tonkon Torp – Kevin Padrick “Trustee” legal counsel - Fee application $267K in 3 Months

Tom Stilley & Susan Ford, Lead Attorneys at Sussman Shank, Summit 1031 Bankruptcy Attorneys – They said do Chapter 11 and everything would be transparent. Nothing has been Transparent and that is why we have this problem. Kevin Padrick continued to use them for to process the exchanges even though initially Kevin Padrick told the principals that Obsidian Finance could facilitate and fund the exchanges (he had connections!). $407K plus $117K to come.

Kevin Padrick – Take over Job and build his own profit center $469 Plus $184 to Obsidian Finance (Kevin’s Company) Total $653K for 5 months to land a job and hire his own company at hourly rates, plus 15% plus Trustee 1% or 3% plus a success fee of 10%.

Terry Vance CRO – was supposed to be the boss (Click Here for Summit 1031 Contract with Obsidian) for Obsidian & Summit 1031, but instead Sussman Shank was making all the calls. Under the contract, Terry should have been more aggressive since he was supposed to be running the show. Sussman Shank, Kevin Padrick, & Obsidian Finance were supposed to be working at the direction of Terry, but Terry never OK’d any of these meetings between Kevin Padrick, Susan Ford, Steve Hedberg & Tom Stilley. So why were they conferencing and what was discussed here??

Click here for a clip from the audio from the February 11, 2009 Hearing.  Prior to this clip of the audio, Judge Dunn decided the case needed “Structure” so a he made a Motion to Appoint A Trustee. The US Trustee’s Office Picks the Trustee. Both Kevin Padrick’s and Terry Vance’s names were in the hat to be picked and the US Trustee’s Office (Pamela Griffith) picked Kevin Padrick even though he had not done the job he was contracted to do and knew nothing about the entire situation…Terry Vance had an indepth knowledge of the TRUE picture and he didn’t need to have LEGAL COUNSEL to protect him from his actions, like Kevin Padrick does.

The $2 Million of FEES are Outrageous in this case for only 5 Months of Billing. I Still don’t know what they have billed for 5/15/09 through Today. That is another 3 Months unbilled as of this time! Especially when you have cooperative debtors.

So if I were going to tell a story from my viewpoint it would be something like this…

I would guess that Kevin wanted his share of the cash in this very liquid bankruptcy $13.6 Million in Cash, and put a significant chunk of it into Obsidian’s bottom line.

How was he going to do this? He had to get a different job because he didn’t have his hands on the cash, Terry Vance did. It would be too difficult to actually work for the money under the contract.

Kevin Spent time figuring out the situation and how he could get to the Cash. He played off of the creditors anger and I think he played off of the Tennant Lawsuits and the Tennant Family pushing to get in front of the Line for the Money.

Go to http://www.anniebuell.com/ to see their role in this.  Annie Buell is Tennant Family!

Kevin knew he could get Leon Simson on board and therefore, possibly Pamela Griffith. Kevin knew for sure he could get the creditors on board because Annie Buell was chair of the creditors’ committee and Steve Hedberg was the senior attorney for the creditors’ committee legal counsel, Perkins Coie.

It seems like Annie Buell is able to push Jeanette Thomas, lead attorney for Perkins Coie, around to get what she wants..Not sure what the relationship is there.

Sussman Shank was kept on doing exchanges even though they were not competant at it and have cost the estate a ton of money for taking on a job they were not the best professional for. Kevin Padrick should have retained another Qualified Intermediary if he couldn’t do the exchanges which is what he said the could do.

All Players seem to have a profit motive that is different that the motive they should have which is to do their best to pay back the Summit 1031 Exchangers.  And the Portland BK culture seems to work like this, you pat my back on this case, I’ll help you out on another down the road.  Status quo is profitable for everyone.

From what I have read on these Chapter 11 Cases, it seems that there are enough strange parts of this case to lead to an FBI investigation into possible Bankruptcy Fraud. I am not a lawyer or an investigator. I am just trying to figure out what the heck has gone on here since none of it makes any sense to me since there was enough legwork and assets put forth by the Summit Principals to get the Exchangers paid back. I don’t get it and I don’t think these people are acting in the highest fiduciary duty since that would mean they had the creditors, best interest in mind.

It is a long story, but hopefully this helps condense it a bit.  Below are some very good places for more information…

Our Objection to Fees

Click here for Kevin Padrick Complaint – Another recap of this story in another format...

Another way to look at the story is to check out the older posts Click here

Click here for a story about Kevin Padrick & Longview Fibre.

Click here for story about Kevin Padrick & Oregon Trail Financial Corp.

Click here for a Video Taping of Kevin Padrick, Obsidian Finance, Terry Vance, Summit Principals, my step-mom and myself

Click here to see total fees in case through May 15th, 2009.

Here is an example of Kevin Padrick not letting a “no brainer” sale of a residential home go because he was not set up to make 15% yet…

Here is an example of a perfectly good and indepth offer that has now past and soon will be nothing because this property will go in foreclosure if I can’t continue to make the payments.  This offer has been lost and ignored.  An example of Obsidian Finance and Kevin Padrick’s “Professional Competance”.  Below are all related documents:

#130682-v1-KlondikeEMailLSimsonReOddFellowsBldg, klondike-offer, KLONDIKECAPITALCALL21009 6/4/09

KlondikeE-MailDAmanRePadrick-Final, Klondike2009OwnershipChanges 6/24/09

Click here for my mobile home park issue.  This thing would cost the estate money.  Of course, Kevin does not want to part with money, he just wants the money to be brought to him.  Jim Hull and I are working for Free to keep this a float and if Kevin keeps it in the estate, it will cost the estate.  Below are all related documents:

CenturyDrEMailDPetersenRePadrick 6/15/09

CenturyDriveMobile-DeferredGainSheet, CenturyDriveMobile-Email, CenturyDriveMobile-IncomeSheet, CenturyDriveMobile-TIC Agreement, CenturyDriveMobile-Resignation 7/1/09

Bankruptcy Fraud

Bankruptcy Trustees

The Predators Within

When you file bankruptcy, the court assigns your case a trustee to administer the case. These people are legally known as Panel Trustees, but commonly referred to as a trustee, or bankruptcy trustee.

They are contract employees. They are not government employees. They are on contract.

During the 1930s, a new division within the U.S. Justice Department called the U.S. Trustee Office was created to deal with the rampant fraud by bankruptcy trustees against citizens and businesses.

But something is very wrong with the U.S. Trustee program. Graft and corruption among the panel trustees has not lessened and victims still have no recourse. Most victims report their evidence of criminal activity goes into a black hole and the U.S. Trustee does nothing.

See the ATP, Whistleblower, Sturman, Solder, cases of the crimes against these people while the U.S. Trustee’s Office is either covering up the crimes or turning a blind eye.

The FBI defines one of their duties as investigating bankruptcy trustee fraud. The U.S. Trustee Program, however, redefined what constitutes Panel Trustee Fraud.

They define fraud as Panel Trustees who recover assets, and divert those assets to the Panel Trustee’s personal enrichment without approval of the court. The operative words are without court approval. Too many cases have emerged where judges approved.

It could be because the bankruptcy judges are rubber stamping cases because the system operates like a cattle call. As an example, see the Smoking Gun case of how Judge Jane McKeag rubber stamped a motion by a trustee that involved flagrant fraud.