REMOVAL_OF_RECEIVER

Contact the author of the petition

This discussion topic has been automatically created of petition REMOVAL_OF_RECEIVER.


Guest

#26

2013-07-16 16:04

As noted the receiver is a thief in a suit & tie. He adds no value and is a leach causing the investment to deteriorate in value. If allowed to remain the receiver will cast a negative cloud over the property and make it difficult to sell. This partnership does not belong in the hands of the receiver.

Guest

#27

2013-07-16 18:03

We want to have control of our own investement

Guest

#28

2013-07-16 18:14

Thanks for finally giving me a voice. We have not had one but we are the ones losing everything! How can this be happening in America???

Guest

#29

2013-07-16 19:51

Thank you for putting this together

Guest

#30

2013-07-16 19:51

I am angry that a receiver was appointed who is acting against the interests of the actual partners. We partners are able to make our own decisions without this clown screwing things up for us.

Guest

#31

2013-07-16 20:11

Thank You This Petition needs to be recognized by the judicial system. This whole process has been shoved down our throat with thecourt appointed reciever making a profit off our investment group for NO reason whatsoever . STOP NOW

Guest

#32 REMOVAL_OF_RECEIVER

2013-07-16 21:02

I think this Receiver has an ulterior motive of becoming a land baron or at least making a lot of money off of our "worthless" property. He never would have taken this receivership without the inclusion of the partnerships because Western Financial alone doesn't have enough money to pay the receiver's fees. He certainly is not protecting the investor's investment as he is inappropriately buying back Western's partnership units at a $1 per unit when the "appraised" value is 10-20 cents on the dollar, and without a vote of the partnerships involved. How can a U.S. District Judge sanction actions like this?


Guest

#33

2013-07-16 21:09

Where is the "value add" from the Receiver AND the SEC investigation? How many years will this process continue? IF their case was such a "slam dunk"....we should have qualified anwers, resolution "and less costs coming our way" by now........

Guest

#34

2013-07-16 21:11

No requirement for a Receiver. If the SEC had an issue with Western it should be with them not the General Partners. The Receiver adds no value only cost. Is this going the way of the Madoff Receiver? Who has made more money than he has paid out to the victims. Are our investments to be plundered to satisfy the Receiver, he needs to go!

Guest

#35

2013-07-16 21:20

The receiver is doing the GPs no favor. He is gaining shares of the accounts at face value and without the approval of the GPs. He is charging exorbitant prices for services that are not requested, and not required. Without the approval of the GPs, these expenses should NOT be paid.

Guest

#36

2013-07-16 22:51

I have had personal experience with investments created by Western Financial that have sold and made significant profits for me. I did not need a Receiver in place for that to happen.

From the outset of this investment, I signed up for control and I would like that back.

Zaven Sarkissian

Guest

#37

2013-07-16 23:46

I have sent a letter tho the SEC rep., and the Clerk of the Court, to request this action be granted, remove the GP's from receivership. I would like to retain control of my investment.

 


Guest

#38

2013-07-17 01:50

26 years and still waiting for the best time to sell this piece of property.

Guest

#39

2013-07-17 02:53

This action by an uninvolved party is causing an unnecessary burden on me the investor. If the SEC wants to bring action against Western Financial let them foot the bill!! This is equivalent to the "Taxation without representation" that started this country. I have no problem with our partnership so why should I have to fund a bunch of lawyers who bill outrageous fees to send letters? Put an end to this government backed money grab now!!

Chris Rollison
Freedom Fighter

#40 What happened to our constitutional rights to own property?

2013-07-17 03:58

Thought this was the land of the free, how is it that we are being ripped off by our own government? I did not get into this partnership without knowing the risks, obviously we could loose our money in a bigger way in the stock market. Land/real estate, always has some value, no matter the market. It should be up to the owner when it gets sold, not some other entity, they did not buy it, we did. Unless someone informs me that our land investment was bogus and all of our invested money is gone, and we don't really own anything, then this Receiver should be brought to court to face a suit to get the money he stole from us. What kind of thief is operating in our government? Maybe a few calls to the justice department, and our congresspeople are needed.


Guest

#41 It is apparent the receiver is intent on sequestering all the properties not just Reno View

2013-07-17 15:22

Clearly the Receiver is intent on ultimately acquiring all the properties of the various partnerships Western Financial sold to the various partnership groups. The process is really simple. The Receiver runs up an outrageously inflated charges for presumed services rendered to the partnerships - which services have, so far, been non-existent. The Receiver simultaneously brings in his own appraiser to marginalize the value of the land as much as possible - even to the level of pennies per acre. No one individual is in a position to contest this devaluation. Since the only assets existing in the whole of all the partnerships is the land itself. The only way for the Receiver to recover his fees is to "offer" to take the land in trade for his fees. Given that the Receiver has racked up huge fees at this point, one can expect that every square foot of all the partnerships land holdings will end up belonging to the Receiver and we, the current owners, will end up with nothing.
And this is all being done with the direction and sanction of the court and the SEC.

We demand that the court remove the Receiver from all of the general partnerships and deny any payments to him.

Ron Van Boxtel

EY

#42 REMOVE THE RECEIVER

2013-07-17 16:41

The investment made by myself, and my partners, were conducted with the intention of realizing appreciation of the purchased raw land. It was clearly understood and stated at the time of investment that these investments may take up to, or more than, 10 years to realize value significant enough to sell the property to a buyer/developer. The decision to unhold the property and sell was and is at the discretion and vote of the partners. I understand that the SEC's intention of investigating Western Financial, however, this land investment does not, nor should in the future, fall within the realms of the SEC or securities regulations as it is dealing with real estate, not market securities.
The court-appointed Receiver has not fulfilled his responsibilities in representing the population that he was to look out in the best interest for. No communication has been received from the Receiver of his intentions on the partners' land, i.e. appraisals, valuations, etc. All actions should have, and must be, at the decision and discretion of the partners; NOT the Receiver, as these land investments are owned by the partners - NOT the Receiver, nor Western Financial due to their voting restrictions in the investment.
Per these arrangements and agreements, all activities conducted by the Receiver, that were charged to the partners' investments, should be returned to the partners as restitution for the Receiver's indiscretions and infractions of not obtaining proper approval. Furthermore, an investigation should be conducted on the Receiver on his work operations and practices for possible accepting of bribes, malpractice, negligence, and malfeasance.

See to it that this is done.

Guest

#43 Government destroying America

2013-07-17 17:03

My understanding is that the SEC should have been obligated to contact each and every partner named in these land investments; we were not. These investments should not be classified as "Securities". In either case, I feel that a class action lawsuit against this Receiver is in order if he is not removed! This is just another example of how government is destroying this great country of ours.

Guest

#44

2013-07-17 17:03

This receiver appears to be not serving the interests of the partners is being paid a significant amount of salary.

Guest

#45

2013-07-17 17:29

Heaven help us all!

Guest

#46

2013-07-17 21:05

It is truly unjust that the receiver has taken over our GPs just so he can tap them as his source of funds. We are running our GPs just fine without him, thank-you.

Guest

#47 The Receiver is only looking to make a profit

2013-07-17 23:31

..and the SEC is a joke. Clearly, they have no interest in protecting the investors, or in doing what's best for the investors.

It's nice to see so many people are very strong proponents of this investment, and Western Financial. With that said, due to recent health issues, my age, and the fact that this is (was) ALL I have left of my "retirement funds," if anyone is interested in purchasing my 10,000 units, please let me know. I'll check back here for a reply since I don't think we can leave email addresses.

Guest

#48

2013-07-18 00:55

The Receiver is not adding any value and his recommendation to sell the property in a depressed market does not make sense.

Please remove the receiver and determine the best course of action to preserve the remaining value of the investment.

For many people, these investments are a large portion of their retirement funds.

Making the right decision has significant impacts on other peoples life.

Please do the right thing!

Guest

#49 Re:

2013-07-18 02:26

#36: -

And how long did it take for your investments to be sold? I have been holding on to this investment for over 30 years! Talk about "long term"!! And the way it looks to me, my property will will never be worth what the investors paid for it...


Guest

#50 removal of a receiver

2013-07-18 06:58

Lets say the receiver obtained estimates now because he wanted the lowest prices on our land while deciding to buy, for himself, all our raw land. Next, he waits for a better market, looking for an opportunity to sell our land that he should not legally possess because he was deceitful taking our land for gain and profit. Plus, he is using our us money to disrespect and take advantage of us. What happened to our rights? Just because our govt. is robbing us, that does mean we have to let them get away with it.

Your Honor, plz remove the receiver and return our money. Respectfully,

GP



will pitch in to hire top notch council and appeal