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Northwest Territorial Mint - Page 7
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Thread: Northwest Territorial Mint

  1. #61
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    Creditors' Meeting Transcript

    The following is the full transcript of the creditors meeting. I thought it would be a long boring read and it's definitely long at 159 pages, but there is a lot of great back and forth moments in there.

    Ross Hansen (owner of NWTM) came to the meeting without a lawyer and is on the stand for almost the entire meeting and does not back down from these lawyers when they came at him and even went after them a number of times. Right, wrong, is was interesting to read and must have been more entertaining to have been there in person, but I'm sure anyone that was in attendance was worried about losing their a$$ than any entertainment factor from the show going on before them.

    The chapter 11 trustee is calling it a Ponzi scheme and he offered the worse evidence I think anyone as a silver investor knows about NWTM is wrong without actually buying anything from them.

    If this was the same as the OJ trial, I think that Trustee would have set Ross Hansen free and not by choice. He presented his credentials at his opening and I thought this guy is loaded with mad skills and will put Ross Hansen in jail if anyone can, assuming he's found guilty of a crime. And then he fell flat on his face by sabotaging his own case. Ross Hansen put on that shriveled up glove so we can prove it fits!!!

    I'm not 100% sure but it sounded like the Trustee is looking at a claw back of all shipments for the 90 days before they filed for chapter 11. If that is true, that will be a devastating blow to potentially thousands and a bit higher refund for those that are looking at some pretty bad returns right now according to the trustee. However Ross Hansen says the trustee doesn't know what he doing and that the company is worth far more than the trustee understands. Hopefully he's right for everyone's sake. The trustee did say there is a lot of stored inventory that is identifiable to individuals, but far less than the records seem to show, but he doesn't know how much that is. He did say those that can be identified would probably get their metal returned in about 60 days. Ross Hansen seems to think there was far more that was improperly removed and comingled with other metal that shouldn't have been. The trustee doesn't agree.

    http://existingbullionorders.com/key...-Condensed.pdf.

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  2. #62
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    You can be sure that the only losers in this total clusterfcuk, will be the Hog Ticket Holders, and the winners whoever stole the precious and the stinking Lawyers.

  3. #63
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  4. #64
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    'Looted', 'Stole', 'Thief'

    June 16, 2016 7:05AM EST

    There hasn't been much of interest going on with NWT lately -- until yesterday.

    Yesterday, Chapter 11 Trustee Mark Calvert filed a Trial Brief, discussing the legal standard to be applied at an evidentiary hearing on June 22. What makes it interesting is that for the first time we are seeing phrases like 'The evidence will show... Diane Erdmann and Ross Hansen stole from NWTM in the weeks prior to its bankruptcy filing' and 'A thief does not take title to assets stolen from another' and 'The evidence will show... that Diane Erdmann and Ross Hansen looted assets from NWTM prior to the bankruptcy.'

    This is specifically referring to funds that were used as a retainer to pay the bankruptcy attorney, without which the bankruptcy likely could not have occurred, and my understanding is that without the bankruptcy all the assets would have gone to the person who won a defamation judgment against NWTM. Since NWTM assets were frozen, the attorney could not use NWTM funds to pay his retainer. So to me, it looks like this move ultimately benefited most creditors.

    Meanwhile, Diane Erdman filed a Trial Brief countering this, explaining that the money came from a life insurance settlement, which she invested in precious metals and kept in private safety deposit boxes and her personal safe, and through strategic trading she took advantage of the 3-fold increase in the price of gold. She points out that if she or Ross Hansen needed more money, they would have just increased their owners' draw, that there would be no need to resort to theft.



    Below are the two trial brief actually filed with the court with their lengthy arguments, which is interesting. One side says your a thief, we have you on video and the other side says your full of crap and we have witnesses that say otherwise.

    Here is a direct link to the trustees brief filed with the court: http://about.ag/pics/bk/nwt/409.pdf

    Here is a direct link to the Diane Erdman brief filed with the court: http://about.ag/pics/bk/nwt/410.pdf

    Last edited by valerb; 18th June 2016 at 21:14.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  5. #65
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    Proof of Claim Forms Required: by September 1


    June 21, 2016 8:10PM EST

    The judge has allowed Chapter 11 Trustee Mark Calvert's request to require all creditors to fill out a Proof of Claim form. At this point, with the entire creditor list including addresses having been made public, it is not as much of a privacy concern as it would have been.
    The docket urges creditors fill out the Proof of Claim online, but I highly disagree with that. I refer to the online Proof of Claim system as the "impulse claim" system, as it makes it very easy for someone to file a claim without carefully going over it. About 1 in 30 creditors will, if nothing is done, receive a check payable to "Northwest Territorial Mint" -- that almost certainly would not have happened with electronic filing. So if it were me, I would mail in a Proof of Claim form.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  6. #66
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    It appears that the last obstacle for the NWTM bankruptcy to move forward has been settled with the owner of Medallic Art, a division of Northwest Territorial Mint, withdrawing his claim to the title of that company. If there are no hidden problems it will now officially be included with what's left of NWTM going forward as it has for the past year. The Trustee believes they will continue to run this operation out of the Daton facility and make a profit, how much remains to be seen with hopes to sell it in a year or so with the profits going to the creditors. There has been no indication that they will resume the production and sale of NWTM investment bullion products.


    Medallic Lawsuit Dismissed

    April 20, 2017 2:00PM EST

    According to the March financial statement:

    "The estate has a pending litigation matter with Medallic Art Company LLC, an entity controlled by the former CEO of the Debtor, Ross Hansen. The trial in that litigation was set for May and June, 2017. However, in the week before the preparation of this report, Medallic filed a motion to dismiss its claims. Based upon the dismissal of Medallic's claims, the Trustee is preparing to enter a judgment susbstantively consolidating Medallic with the NWTM bankruptcy estate. The Trustee expects entry of that judgment in early May, 2017."
    In other words, the concerns about Medallic being a separate entity from NWT Mint (which would cause a nightmare of expensive issues, trying to figure out what belonged to which company) should now be gone.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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