Northwest Territorial Mint

[valerb]

Are you talking to yourself

No you idiot, there is no voice on this forum, I posted 128 times on this thread and then came back and viewed my own posts 26,812 times because I have a serious short term memory problem.

PS I recognize my memory problems are a slight deviation from the norm, which means I am not senile.

[valerb]

Now we have a tiny fraction of the latest court hearing posted by about.ag which doesn't do any justice to the actual hearing. I do not agree with his assessment that the judge was truly sincere when saying the attorneys all have great reputations, I'm sure he was only pandering to them while smacking them around like they were third graders at times. He has given them until something like March 1st to enter additional Declarations, not because he has a new list of problems for them to answer, but more like lets get it done right this time and specifically assigned what he wanted in detail and it's a bunch. A new hearing is set for March 13th. In the first part of the hearing he acknowledges that he is not like many other judges and he does read everything they provide. He also makes a point of probably not allowing this reorg to go forward as it did if they had submitted correct monthly statements to the court so he would have known how much trouble they were really in. There is also a statement in the hearing where they claimed the assets were worth about $5 million Dollars in the beginning and that would have provided some relief to the creditors. Then one of the lawyers tried to say the administrative cost would have eaten up all of that money. Of course the judge is no idiot, he quickly stated how in the world could you have anywhere near $5 million in charges when you had hardly been involved in the case at that time. It's something to hear how these clowns have been hiding things and doing one thing after another that is against the bankruptcy rules. He also makes it clear that he has to determine which things to allow and not allow for payments and that the total $5 million being billed might actually end up under the banks $2 Million account. I'm sure that made them feel extra special. The judge told them it was their decision to not submit quarterly billing and now they are in a real bind. Of course it would have been brought to the courts attention much sooner that they were running out of money and the place would have been shut down a long time ago for lack of funds. Then again he doesn't believe so much of the billing is justified as in helping the FBI without a court order.
I believe in the last hearing he wanted to know why they spent so much money suing Diane Erdman when he had judged her insolvent and she still is. They then tried to sum up the amounts of money they hoped to potentially collect from different sources and it appeared that the amount would not cover the expense to sue her. Nothing for the estate if the attorneys is being paid all of the collections to cover his fees. It just doesn't get any better than some of the crap these guys have pulled. It's obvious that other judges really don't pay much attention to detail and now they have run into a hornets nest of their own making. When you listen to the tapes you know why I would like to see someone or two in a cell right next to Hansen. At one point the judge stated that the attorney that sued Hansen's girlfriend argued successfully in court that her position is not a valid position and won and now your in my court trying to use her same argument that you said was not a valid argument, you have to love the balls on these guys. Several times these guys tried to argue they have been doing this the same way for 25 years and the judge said he didn't care, they were wrong and it's going to be done correctly this time. Some tried to argue with him past his patients and he said that's it now your going to listen to me. A lot of it is mundane things and a lot of it is your an idiot and not in my court, not with this bankruptcy.This is very interesting to explain why every bankruptcy has ended the same way with the attorneys sucking every penny out of the estates they can with judges allowing it to happen.

For anyone interested in listening to the court hearing, it's just over 90 minutes long at http://about.ag/pics/bk/nwt/2023.mp3




More Questions for Professionals


February 2, 2019 10:30AM EST

The hearing can be summed up when Judge Alston referred to Gearin, Neu (who works a bit with Gearin), and Northrup as excellent lawyers with a great reputation... but that something happened here, maybe he will never know what, that is deeply disturbing. One recurring theme was information withheld from the court, such as the fact that NWTM was administatively insolvent if liquidated (e.g. a "fire sale" wouldn't result in enough money to pay all the professionals).


One key takeaway for Calvert is that Calvert was loaning the company money and not reporting it as loans. The judge even included one loan for $8,907.56 for various expenses that NWTM paid Calvert, where the Monthly Operating Report listed a payment payable to "Transfer" (not "Mark Thomas Calvert"), with a description of "TRANSFER" (not "Payback of loan" or "For expenses incurred"). Wow! Not only was he supposed to check the box saying that he loaned money, he hid it as "TRANSFER" (which to someone naive like me would sound like it was going to another NWTM account).


One key takeaway for Gearin is that Gearin kept making it sound like the company was administatively solvent, when in fact it was not, and Judge Alston might have made different decisions if he had known that.



One key takeawy for Northrup is that he forwarded a letter from a client to Gearin, possibly breaking attorney-client privledge.


Judge Alston had another list of questions for the professionals, that they must include in declarations due March 1.