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The Receiver is proposing to enter into a settlement with Maureen Wile and Robert Wile. The Settlement Agreement (a) will resolve (i) the Receiver’s adjunct lawsuit in Clark County Superior Court, assigned Case No. 20-2-00507-06 (the “Adjunct Litigation”) against Robert and Maureen, (ii) the Receiver’s August 29, 2025, Judgment on Plaintiff’s First Cause of Action (Breach of Contract) and Liability on Plaintiff’s Second Cause of Action (Breach of Fiduciary Duty) as against Maureen, in the principal amount of $11,884,502.02 plus interest at 12% per annum from the date of entry of the Judgment, and (iii) any lien that the Receiver holds on any property owned by Maureen or Robert in Pacific County, Washington, and (b) as a condition to such resolution, will require Maureen and Robert to pay the Receiver $100,000.00 in cash. The notice of the proposed settlement is available on the Settlements Page.

The Receiver expects to begin closing on the eleven lots that are currently under contract in Mexico. Proceeds from these closings are anticipated to be received within approximately ninety days following closing. Once received, the Receiver anticipates presenting these proceeds, together with the recently received $500,000 settlement from Ross Miles, to the Court for approval of a proposed distribution to investors. The receiver has listed 12 additional lots for sale, and is evaluating options for the remaining development land in Mar de Plata. This land may be marketed as individual lots or as a single development parcel. We appreciate the continued patience and will provide further updates as closings progress.

There is a summary judgement hearing scheduled for August 1, 2025 at 1:30pm. Investors may attend either via Zoom or in-person at the Clark County Courthouse.

Join Zoom Meeting/Hearing.

Meeting URL:

https://clark-wa-gov.zoom.us/j/87686782365?pwd=JnCU4TCREUp2pW8y6bNzdAxW3hWbTU.1

Meeting ID:  876 8678 2365 Password:  27181810 Join by Telephone: US: +1-206-337-9723 or 888-788-0099 (Toll Free)

All investor checks over $5,000 were sent via certified mail on September 3rd or 4th. These checks should begin to arrive on September 6th and will require a signature. Checks under $5,000 were sent via regular mail on Aug 30th.

For investors planning to pick up their checks at the Receiver’s office, the pick-up window is: Thursday, Aug 29 – 10 AM to 4 PM Friday, Aug 30 – 10 AM to 2 PM The Receiver’s address is: 1 SW Columbia, Suite 525 Portland, OR 97204 Investors will need a photo ID to pick up checks. If you need to schedule an alternate time, please call, or email the Receiver’s office at AEMreceiver@hamstreet.net or 503-223-6222. If you plan to pick up your check, but haven’t notified the Receiver, please call or email so that we can have your check ready. All remaining checks will be mailed on August 30. If you are out of town and would like your check held, please reach out to the Receiver’s office.

The bank settlements were funded this week, and the receiver anticipates making its 3rd distribution to investors on August 30th. If you have changed your mailing address or would like to pick up your check at the Receiver’s office, please contact our office at 503-223-6222.