On Friday May 26, the Receiver mailed a letter notifying investors of the stay of pending litigation against American Equities Inc, American Eagle Mortgage Management LLC, Ross and Beverly Miles, Maureen and Robert Wile, Pacific Premier Bank, and Riverview Community Bank due to a proposed settlement. A copy of this letter along with the court orders granting a stay in said litigation can be found on the Documents page.
Latest News
Proposed Sale
The Receiver is proposing to sell the real property and improvements commonly known as 118 Old Renee Lake Road, Troy, Montana. The sale as originally proposed in the notice dated November 3, 2022, did not close, and a new sale to different buyers has been arranged. The amended notice of the proposed sale is available under the Notice of Pending Sales heading on the Real Estate page.
Hearing on Summary Judgement Motion
At 9 AM on March 28 there will be a hearing on Riverview Bank and Pacific Premier Bank’s motions for summary judgement. Investors are welcome to attend either in person at the Clark County Courthouse or via Zoom at the below link.
If the link does not work the Zoom ID and Password are as follows:
| Meeting ID: | 831 7821 4032 |
| Password: | 80209818 |
Proposed Settlement
The Receiver is proposing to enter into settlements with the “Class Action Plaintiffs,” the “Beattie Plaintiffs,” and Davis Wright Tremaine LLP with respect to certain litigation by those plaintiffs against Davis Wright Tremaine LLP in Diane Anderson et al., v. Davis Wright Tremaine et al., which is pending in the United States District Court for the District of Oregon as Case No.: 3:20-cv-01194-AC, and Sherry Beattie, et al. v Davis Wright Tremaine, et al., which is pending in the Circuit Court for the State of Oregon, Multnomah County, as Case No. 20CV09419. As pertains to the Receiver, under the settlements, the Receiver is granting a release of Davis Wright Tremaine LLP, and the Class Action Plaintiffs and the Beattie Plaintiffs are paying the Receiver a total of $45,000 from the settlement payments they receive from Davis Wright Tremaine LLP. The notice of the proposed settlements is available on the Settlements Page.
Proposed Settlement
The Receiver is proposing to enter into a settlement with Kenneth George McQuhae and Diana Caroline McQuhae, in their capacities as trustees of the Kenneth George McQuhae Family Trust and the Diana Caroline McQuhae Family Trust, in order to resolve the Receiver’s claims relating to certain real property in Cowlitz County, Washington, which is bare land in Kelso, Washington, with an abbreviated legal description of 35-8N-1W T-16A, and tax parcel no WE3416002. The notice of the proposed settlement is available on the Settlements Page.