Honorable Barry Russel, United states Bankruptcy Judge sign now

TO THE HONORABLE BARRY RUSSELL, UNITED STATES BANKRUPTCY JUDGE, the undersigned creditors of Ezri Namvar (Namvar) and Namco Capital Group, Inc. (Namco) submit the following opposition to the proposed motion to establish sale procedures for the sale of the commercial office building located 12121 Wilshire Blvd., Los Angeles, California, (the Property). The creditors of both Namvar and Namco do not have the resources at this time to retain an attorney to represent their interests, but they feel very strongly that the Court be made aware that the creditor body of these two Bankruptcy Estates oppose the efforts of R. Todd Nielson, the Trustee for Namvar, to sell the Property. Attached to this opposition is a petition that has been circulated amongst the creditors of these Estates protesting the sale of not only the Property, but of all other assets of these estates. The Creditors intend on supplementing the signatures they have gathered at the hearing on this matter and submit them to this Court for consideration of the sentiments of the creditors.
By filing this opposition, it is the intention of these creditors to be allowed to address the Court at the hearing on this motion and express their opposition.


>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
PETITION TO HONORABLE BARRY RUSSEL,
UNITED STATES BANKRUPTCY JUDGE

March 21, 2010



We, the undersigned Unsecured Creditors of Namco Capital Group Inc. (bankruptcy number case # LA-08-32333-BR) and/or of Ezri Namvar (bankruptcy number Case # LA-08-32349-BR), hereby request you to instruct Mr. Todd Neilson and Mr. Brad Sharp, the trustees of these estates to immediately cease any sale of assets and/or conveyance of any interests in related LLCs to any of the partners involved and/or to third parties, ie.Wientraub, Torkian, Boucherian and/or others.

It has come to the attention of the Unsecured Creditors as a whole that the trustee of the Namvar estate has filed a motion with the court to sell perhaps the most valuable asset of the estate, the Wilshire Bundy office building.

The trustee of the Namco Estate has filed a global settlement with Mr. Weintraub in various LLCs which he is a minority partner.
With the utmost respect for the Honorable Judge, neither of these transactions nor any other transactions must take place.

Dear Honorable Judge Russell, please take into consideration the fact that hundreds of families have their total life savings tied up in these properties ,as a result of Mr. Namvar's business dealings. It is morally wrong and not in spirit of justice to throw away life savings of hundreds of hard working families in the current economic conditions. As a result of the hasty sales and transfers that are taking place, any and all monies that could be better recovered at a more opportune time is in complete jeopardy of complete loss.

The undersigned creditors are willing to wait for better economic market conditions in order to obtain a higher sales price especially the Wilshire Bundy property.
We, the Unsecured Creditors are well aware that a substantial part of the cash proceeds from the sale of the Wilshire Bundy property would go towards the payment of taxes, since all LLCs have exchanged at low cost basis. We are also aware that substantial part of the proceeds would go towards the payment of the outstanding and exorbitantly high bills of the professionals. With the utmost respect, these sales and/or transfers are a travesty of justice.

It is incumbent upon both trustees to work with one another as well as with the Unsecured Creditor body and the committees in order to increase the equity in any and all related properties, reversing any and all fraudulent transfers, stopping the sale or the foreclosure of any and all properties until which time there is a Plan of Reorganization for both Estates is submitted.

RESPECTFULLY YOURS

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in, otherwise register an account for free then sign the petition filling the fields below.
Email and the password will be your account data, you will be able to sign other petitions after logging in.

Privacy in the search engines? You can use a nickname:

Attention, the email address you supply must be valid in order to validate the signature, otherwise it will be deleted.

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Shoutbox

Who signed this petition saw these petitions too:

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in

Comment

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Goal
50 / 100

Latest Signatures

  • 28 November 201550. Joseph G
    Entity representing if Jgolshan LLC AMOUNT OF CLAIM 575812.50 please help to stop this transaction.
  • 25 November 201549. Mahnaz S
    I support this petition
  • 29 October 201548. Soraya S
    I support this petition
  • 08 October 201547. Mojgan K
    I support this petition
  • 25 September 201546. Bijan N
    I support this petition
  • 25 July 201545. Morteza H
    AMOUNT OF CLAIM 1000000 dollars str the petitionongly support
  • 12 July 201544. Saeed Stevec
    I support this petition
  • 11 July 201543. Masoud M
    I support this petition
  • 22 June 201542. Saraly A
    I support this petition
  • 19 June 201541. Eshagh K
    I support this petition
  • 11 June 201540. A J
    I support this petition
  • 29 May 201539. Srf Investmentllcraminj
    I support this petition
  • 18 January 201538. Ardy H
    I support this petition
  • 09 January 201537. Joseph G
    Entity representing if JRMB Family LLC AMOUNT OF CLAIM $372,375.00 all the money is going to the trustee and thats not fair.
  • 04 January 201536. Sam T
    AMOUNT OF CLAIM $1,288,000 Amount not including interest
  • 30 December 201435. Ramin G
    I support this petition
  • 10 December 201434. Mitchell R
    I support this petition
  • 15 November 201433. Doron K
    I support this petition
  • 12 November 201432. Masoud M
    I support this petition
  • 11 July 201431. Frank N
    I support this petition
  • 03 July 201430. Joseph G
    Entity representing if Steven Dean& Asso.Profit Sharing Plan AMOUNT OF CLAIM $380,400 I am the Trustee of the Plan
  • 24 June 201429. Massoud P
    I support this petition
  • 18 June 201428. Shahram B
    Entity representing if В AMOUNT OF CLAIM 400,000.00 В
  • 16 June 201427. Dorit K
    I support this petition
  • 06 February 201426. Dr Arashhakhamiand
    AMOUNT OF CLAIM 40,000 i was only given very short notice for this petition but find it accurate as it has been presented to me in regards to my sentiment of how these assets are being sold
  • 30 January 201425. Mehrnaz H
    I support this petition
  • 26 December 201324. Ben M
    I support this petition

browse all the signatures

Information

Juana ThorntonBy:
Technology and the InternetIn:
Petition target:
Namvar & Namco Creditors

Tags

No tags

Share

Invite friends from your address book

Embed Codes

direct link

link for html

link for forum without title

link for forum with title

Widgets