Has anyone heard from the court-appointed receiver appointed for ORES by
the Comal County Court Judge? On another web site, I learned that there
was to be a meeting with the receiver, Charles Adams, concerning the
progress (or lack of same) on this situation. I received no such notice
and Mr. Adams is aware that I am one of the creditors to this action.
Another notice said that the meeting had been postponed with no date
set.
The residence where Ms. VanGundy has been living, 914 Avery Park, New
Braunfels is no longer on the market. A property search shows that
property under another name since 2013.
My suspicion is that we probably will see little or no money and should
investigate using our losses as tax-write offs (consult your lawyer/tax
advisor). I have a good friend who is one of the top bankruptcy
attorneys in the country (usually corporate). He told me that the only
time in his 30+ years that the scammer paid off is when the crook
unexpectedly died and had a large life insurance policy that was able to
pay off all the creditors.
I believe that perhaps action could be taken against the agents who sold
these "investments." Perhaps they have E&O insurance, but from the
advice I've received, the documents I signed are not normal documents
for such transactions. However, it seems that Ms. VanGundy never
purchased or rehabbed these mobile homes and I question if the agents or
account managers ever did their due diligence and any simple
investigation -- like, "Could I see where you renovate these units?" or
"Could I see where you have installed these units?" or "Could I see some
of the paperwork from your purchasers of these units?"
Of course, fairly we could say neither did we. Or at least I can say it.
Someone had posted this, what do you guys think?
