All Forum Posts by: Jorge Newbery

Here is a link to AHP's Motion for Temporary Restraining Order v. Oak Harbor Capital LLC, Atlantica, LLC and Cymbidium Restoration Trust seeking an order that:

"1. Cymbidium is ordered to provide an accounting of the Trust Assets transferred, serviced, and monies collected by Cymbidium, and its affiliates to determine whether or to what extent Cymbidium and its affiliates Oak Harbor and Atlantica are still owed money under the MLSA and First Amendment.

2. Oak Harbor and Atlantica are hereby enjoined from transferring Trust Assets out of the Trusts and to their affiliates."

The Motion further states that "Since the limitations of the powers of attorney did not prevent abuse and the revocation of the LPOAs failed to cease transfers, AHP Entities know of no other means to stop the unlawful transfer of assets short of a court order."

https://ahpservicing.com/AHP_Motion_for_TRO_v._Oak_Harbor_Capital.pdf (the document is 1,306 pages because it includes copies of many of the assignments executed with abused and/or revoked LPOAs)

Here is a link to AHP's Motion for Temporary Restraining Order v. Land Home Financial Services seeking an "order enjoining Land Home from continuing as 'servicer' of loans held by AHP Entities, or previously held by AHP Entities but subsequently transferred pursuant to abused and now-revoked powers of attorney." The Motion states that "Land Home has participated in the improper conveyance of the AHP Entities' assets to Land Home affiliates, converted assets belonging to the AHP Entities, and neglected loans resulting in diminution of value, lost proceeds, and adverse judgments. Land Home took such actions or inactions while feigning to fulfill its duties and obligations as 'loan servicer' for various mortgage loans located throughout the United States." 
https://ahpservicing.com/AHP_Motion_for_TRO_v._Land_Home.pdf

Here are links to the filings in the litigation filed in Washington:                   
Third Party Complaint, filed on Friday: https://ahpservicing.com/197111055381.pdf 

https://ahpservicing.com/Notice_of_Removal_of_Action_to_US_District_Court.pdf

https://ahpservicing.com/Notice_of_Removal_to_Federal_Court.pdf

https://ahpservicing.com/Cymbidium_Restoration_Trust_Complaint.pdf

We moved the webinar to next Tuesday. January 30th at 1pm CT and invitations went out this morning. 

Here is a link to the first litigation which we have filed in this matter, in federal court in Illinois pertaining to 13 assets: https://ahpservicing.com/File_stamped_Complaint_with_Exhibit.... We plan similar litigation in over 40 additional states.

The opposition has filed a separate suit, which we have removed to federal court and answered, and plan additional filings this week. We will provide links to these as well.

Brian Benoit of Miller Berger is coordinating AHP’s legal efforts nationwide and will join the webinar.

This is Jorge Newbery from AHP and I just received a Google Alert bringing me to this thread. Some quick updates: 

1. We are planning our next investment update webinar for Tuesday, January 23rd at 1pm CT. If you are an AHP investors, expect an invite soon. Counsel handling the litigation which was discussed in December will be joining.  

2. We filed a lawsuit in federal court in Illinois last week. We will be sharing a link to the filing with the webinar invite. This suit pertains to our Illinois assets. We are now working on similar filings in other states. 

3. We are down to four people, including me. We may be slow to respond to individual inquiries, as we are trying to disseminate information in bulk to all investors.

4. Tax returns were filed timely for 2022 and all investors received K1s.

5. Our 2022 audits are 90% complete. We just need to pay the auditors to finalize and release. We have been very tight on cash. 

This has been a very challenging period. I am doing everything I can to resolve what has occurred and do not want any investor to lose on their AHP investment. I appreciate everyone's patience and support.