Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

Summit 1031 Kevin Padrick Obsidian Finance-2 by defenseagainstevil

VIEWS: 34 PAGES: 11

Defense Against Evil's Blogs...

More Info
									5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance




     Stephanie DeYoung
            The Truth on the Summit 1031 Bankruptcy.


     Kevin Padrick, Joseph Stilwell &
     Oregon Trail Financial Corp
     What is it like when you are a Joseph Stilwell
     wannabe?

     Kevin Padrick at Obsidian Finance hitched a ride with Joseph
     Stilwell and his group of proxy prize fighters lat in 2000 against a
     small, unsuspecting, bank in Baker, OR. Oregon Trail Financial Corp,
     known commercially as Pioneer Bank, was blindsided by Joseph
     Stilwell. Stilwell blew in and stated that “management was not
     maximizing shareholder value and proposed that Oregon Trail
     voluntarily place its nominees on the board of directors”. One of

                             Kevin Padrick
     those nominees would be Kevin Padrick.

     seems to sneak himself in places
     where he sees DOLLAR SIGNS like the
     very cash rich Summit 1031
     bankruptcy – $13.6 Million in cash, $10
     Million Bond, $3 Million in E&O,
     approx $11.8 Million in real property
     and business assets. See all the
www.summit1031bkjustice.com/?page_id=1845                                                1/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance



     DOLLAR SIGNS.                                           It is my opinion Kevin Padrick start
     drooling when he sees he can get his hands on other people’s
     money. Anyway….

     Oregon Trail rejected the proposal and the fight was on. And did it
     ever get nasty!! Stilwell announced its intention to solicit proxies to
     elect an alternate nominee. They needed someone from Oregon
     (residency requirements for all board members). All he needed was
     the shareholder list but Oregon Trail said “NO WAY!” Stilwell sued
     and convinced the court to make Oregon Trail turn its shareholder
     listing over plus pay for $10,000 of Stilwell’s legal expenses. What
     the heck? Is this a case of Pit Bull Magic?

     The Stilwell group also filed lawsuits against two of the Oregon Trail
     directors – Chuck Rouse and Ed Elms. The charges: ONE was
     charged with violating the Oregon Trail’s residency requirements
     which the OTHER was charged with perjury based on his testimony
     in the first lawsuit. BOTH CASES WERE DISMISSED pretrial but legal
     defense of the directors cost the bank $200K. But never say die,
     Stilwell filed an appeal on one suit and re-filed the other suit in state
     court. Elms and Rouse sued back. Both sides requested injunctive
     relief from the courts.

     US Magistrate Judge John Jelderks denied both requests. However,
     he stated that Oregon Trail would probably succeed on its claim at
     trial (violation of the anit-fraud proxy regulation). He also said that
     there was a strong possibility that the allegations against Rouse
     and Elms were not well founded. And finally, that there was a strong
     probability that Oregon Trail could show Stilwell’s conduct was part
     of a calculated attack upon the integrity of the incumbent directors
     and management. Whew…sounds like dirty pool, but that doesn’t
     stop a guy like Stilwell or his study – Kevin Padrick.

     Stilwell used proxies to force the election of Kevin Padrick to the
     Oregon Trail board. This seems to be Kevin Padrick’s style – Go

www.summit1031bkjustice.com/?page_id=1845                                                           2/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

     around and force whatever you want on unsuspecting victims. Why
     did Kevin Padrick play along with this attack on Oregon Trail?
     Stilwell gave Padrick 20,000 shares of stock options for his
     willingness to run for a seat on the board.                                         Ahhh – there had to
     be DOLLAR SIGNS somewhere.
     Per the La Grande Observer, Padrick said he intended to ask probing
     questions during board meetings, but said he wasn’t elected to the
     board to shake things up. Seems to me the words coming out of
     Padrick’s mouth never match his actions. Wonder what he told the
     Summit 1031 Creditors’ Committee. Do his actions in the case,
     match what he told them? Don’t know yet, but will sure find out.

     So Kevin Padrick packed his lunchbox and flew to each Board
     meeting for the next 16 months. By March 12, 2002, Stilwell entered
     into a standstill agreement with Oregon Trail. Among other things,
     Oregon Trail agreed to drop all lawsuits and Stilwell even got
     Oregon Trail to pay for his expenses incurred in the proxy fight.
     Where do these guys learn this stuff? They teach this at law school?
     There was also an agreement to keep one Board position filled with
     a Stilwell “lieutenant” for 5 Years.

     On statements filed with the SEC, Stilwell’s goal in these proxy
                     profit from the appreciation in the
     fights is always “to
     market price of the shares of Common Stock and
     through the payments of dividends by asserting
     shareholder rights“. Seems to me that Stilwell’s goal was to
     force a sale of the bank from the beginning because that is exactly
     what happened. In February 2003, Oregon Trail announced the sale
     of the bank to FirstBank NW Corporation of Lewiston, Idaho. The
     sale price was $22/share and it was completed by November 2003.

     Padrick took his share of the sale soon after the announcement. Per
     Kevin Padrick’s filing with the SEC, his option price was
     $14.05/share. He exercised his options on 3/10/03 and immediately
www.summit1031bkjustice.com/?page_id=1845                                                                      3/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

     sold them for $23.05/share. So he netted $180,000 in a little over a
     year. Not too bad for experience building!

     Kevin Padrick could just hang onto Stilwell’s coattails and make a
     wad of money!! But that wasn’t to be.

     A review of SEC filings indicate that Stilwell pretty much dumped
     Padrick for his future proxy contests. He nearly pulled him in on the
     Board of American Physicians Capital, Inc. in 2002, but that never
     happened. All in all, it appears that Stilwell triggered proxy
     squabbles in 16 other publicly traded companies, but left Kevin
     Padrick in the dust.

     Since Kevin Padrick could not ride that gravy train, he tried to do his
     own profit ventures. You saw what happened with Longview Fibre in
     2006. Padrick and Obsidian Finance weren’t quite able to seal that
     deal, but what the heck – it was their first try. Give them a chance,
     they were on a learning curve.

     Luckily, Kevin Padrick ran into the naive and trusting Summit
     principals in late 2008. They needed help. They were told Kevin
     Padrick and Obsidian Finance could help. Yeah, Kevin Padrick and
     Obsidian Finance helped shove them off a cliff! They sold
     themselves to the Summit Principals, they took their money, they
     took their priviledge information, they went to the other side with
     that money and they got themselves a more lucrative job. They also
     know there is no Ponzi Scheme and No Embezzlement, but that
     won’t stop them from using the Media to make a play for it. It won’t
     be an $850 Million they looked to get from the flip ofthe Longview
     Fibre shares, but the Summit 1031 deal is easy pickings. The money
     is just sitting there and there doesn’t appear to be anyone at the
     wheel for the Creditors!!!

     With now one watching out for the 1031 exchangers, what do you
     think Kevin Padrick & Obsidian Finance will do? I think there may
     have been some dealing and wheeling on this case too. In

www.summit1031bkjustice.com/?page_id=1845                                                4/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

     Obsidian’s billings detail, I found early conversations with Steve
     Hedburg of Perkins Coie. I wonder what was said at these meetings.

                       Perkins Coie was
     Who knows, but shortly after

     pushing to replace Terry Vance CRO
     (person in charge of liquidating) with
     Kevin Padrick. Sounds familiar doesn’t it?
     Next POST – WHO IS Protecting Summit 1031 Exchanger Monies???
     Who is representing the BEST Interests of the Summit 1031
     Exchangers??? Can you figure this one out?

     TO VIEW WHAT KEVIN PADRICK DOES AT THESE “MEETINGS” HE
     KEEPS ATTENDING GO TO THE SUMMIT1031BK’s CHANNEL:

                            http://www.youtube.com/user/summit1031bk


     Leave a Reply
     You must be logged in to post a comment.


            RSS feed
                    RSS
                    Comments RSS


            Summit 1031 Bankruptcy Blog
            Owned and Maintained by Stephanie DeYoung- Real Estate
            Industry Whistleblower.




www.summit1031bkjustice.com/?page_id=1845                                                5/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance




            Posts
                    Marc John Randazza – Randazza Legal Group
                    Media, Justice System, Governing Agencies, FBI, Target,
                    IRS, Congress, Voice
                    Summit 1031 Bankruptcy Transparency
                    In Bullet Points – Sequence of Events
                    Sharon Stevens – Bend Oregon Threatens Internet Blogger
                    Crystal L. Cox
                    What Investors in 2009 Should Know About 1031 Exchange

www.summit1031bkjustice.com/?page_id=1845                                                6/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

                    Intermediaries Before It’s Too Late
                    Attorney Client Priviledged Information!
                    The American Way EQUALS Violation Our Rights and Our
                    People
                    Bank Application Process
                    I Think Michael Lewis Likes Industry Whistleblowers
                    Video Clips From the World Wide Web
                    Judge Dunn Approved & Chief Restructuring Officer, Terry
                    Vance, Authorized
                    Silly Law People
                    By The Way…
                    Tell the Truth, the Whole Truth, and Nothing But the Truth
                    so help me God


            Topics
                    Brian Stevens
                    Court Documents Submitted By Padrick's Attorney's at
                    Tonkon Torp
                    Creditor's Committee
                    Creditors' Attorney's at Perkins Coie LLP
                    Front Page News
                    Lane Lyons
                    Mark Neuman
                    Me and My Dad
                    Message to Exchangers
                    Obsidian/Padrick
                    Other Parties Harmed By this Misfortunate Event
                    Other Related News
                    Rejected Offers
                    Summit Bankruptcy (BK) by Stephanie Studebaker-DeYoung
                    The Legal System Hard at Work
                    Tim Larkin
                    Uncategorized
                    What's Happening in America?
www.summit1031bkjustice.com/?page_id=1845                                                7/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance


            Site Pages
                    Appointment of Padrick as Trustee
                    Attorney Connections
                    Bankruptcy Abuse Prevention and Consumer Protection Act
                    of 2005 (BAPCPA) – Blah .. Blah.. Blah.. No Accountability..
                    Ben Beseda – Blog Stats…
                    Boulder, Colorado Offer
                    Century Drive Mobile Home Park, LLC
                    Crystal L. Cox – Real Estate Whistleblower
                    David Aman – Check your facts!
                    David Aman at Tonkon Torp Request I remove video and
                    transcript
                    David Aman Communications…
                    Deposition of Stephanie Studebaker-DeYoung
                    Did you know…
                    Do they have a law class that teaches you how to lie or do
                    you learn it from on the job training?
                    Doc 551- Kevin’s Declaration in Response to My Objection
                    Economic Tsunami
                    Exchangers
                         Contact
                    Exhibit F – Kevin Padrick, Tonkon Torp, & Obsidian Finance
                    List of Atrocities
                    For More Answers to Your Questions
                         Lessons
                    Front Page News
                    Hearing is Scheduled for September 2, 2009
                    How much does Annie Buell & the Tennant Family have to
                    do with this?
                         Did Martin Hansen get thrown out as a partner ?
                    Inland Loans
                    Is it David Aman, Kevin Padrick’s Attorney’s Right to
                    Interfere with the Objection to Fees

www.summit1031bkjustice.com/?page_id=1845                                                8/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

                    Jeanette Thomas’ Perception of the Case
                    John Stossel’s book “Give Me A Break: How I Exposed
                    Hucksters, Cheats, ans Scam Artists and Became the
                    Scourge of the Liberal Medial”
                    Kevin Padrick
                    Kevin Padrick & Obsidian Finance Presentation
                    Kevin Padrick – Complaint I Filed
                        Content in Doc 551
                        February 22, 2009 Email from Mark Neuman & Kevin
                        Padrick
                        Kevin Padrick, Joseph Stilwell & Oregon Trail Financial
                        Corp
                        Kevin Padrick, Obsidian Finance, Cambell Group &
                        Longview Fibre
                        Rule 2004 Examination Request – Waste of Time &
                        Money!
                        Wasting Time & MONEY with Worthless Properties!
                        Who is Steve White?
                    Kevin Padrick Ignores Our Rights!
                    Kevin Padrick Neglects a FMV Offer when Market is
                    DECREASING Significantly!
                    Kevin Padrick Won’t Release Property That will COST 1031
                    EXCHANGERS MONEY!
                    Let’s Recap…
                    Letters
                    Martin Hansen, the Tennant Family Lawsuit, and the COST
                    you Paid to Fight Them… yet THEY Still are Running the
                    Show.
                    Matt Goldberg’s report on my deposition and the charges he
                    has and predicts…
                    Montana Victims are Affected – what does NEAL G. JENSEN,
                    ASSISTANT U.S. TRUSTEE have to Say?
                    My Comments to Andrew Moore of Bend Bulletin
                    My Dad and I
                    My Deposition Part 4
www.summit1031bkjustice.com/?page_id=1845                                                9/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

                    New Release Gulfmark Offshore Inc. and other Links for
                    Research
                    No one in the Justice System keeps you Accountable!
                    Obsidian Ignored & Rejected Offer
                    Obsidian Ignores My Offer
                    Open letter to the Department of Justice:
                    Open Letter to the Department of Justice:
                    Our Objection to Fees
                    Part One – Transcript Prior to Obsidian Presentation
                    Part Two – Transcript Prior to Obsidian Presentation
                    Perception or Deception?
                    Plot or Practical Approach?
                    Purpose: To Expose the Whole Truth of the Corruption
                    Report Suspected Bankruptcy Fraud
                    Something to Consider
                    Standstill – What a crock? Your enemy does not standstill
                    the keep coming whether you hide, talk, innocent, NOTHING
                    MATTERS – NO STANDSTILL
                    Sub Exhibits for Exhibit F
                    Summit 1031′s Website Announcement
                    Sussman Shank Web Stats
                    Tenant Family could easily be able to use their clout to
                    influence the replacement of Terry Vance with Kevin
                    Padrick
                    Tennant Family Lawsuit has already Cost the “Creditors ”
                    Plenty..
                    The Truth, the Whole Truth, and Nothing But the Truth so
                    help me God!
                    The Video from Frank Israel’s View
                    Transcript of Recording Prior to Obsidian Finance 2/12/09
                    Presentation
                    Umpqua’s 2/19/10 Form 10-K report filed with the SEC
                    US Bankruptcy Court 2004 Documentation Request
                    US Bankrutpcy Court – 1031 Tax Group Case #07-114488
                    US Trustee’s Office Pamela Griffith picked Kevin Padrick
www.summit1031bkjustice.com/?page_id=1845                                                10/11
5/31/12                                     Summit 1031 Kevin Padrick Obsidian Finance

                    even though he had not done the job he was contracted to
                    do.
                    US Trustees Office Ignores Concerns!
                    We want the creditors to get their money back!
                    We want to pay the exchangers! We don’t want to cause
                    more harm!
                    We’re here to cooperate!
                    Website Stats!
                    What is the Spat Between Kevin Padrick and Stephanie
                    Studebaker-DeYoung Really About?
                    What is Three Sisters?
                    What’s Not Being Reported?
                    Where did Obsidian Go?
                    Where is the money going?
                    Who is Annie Buell in Relationship to the Summit 1031
                    Bankruptcy ?
                    Why I am a Bankruptcy Whistleblower and an Investigative
                    Blogger


     Stephanie DeYoung The Truth on the Summit 1031 Bankruptcy.

     Powered by WordPress.                           Fazyvo 1.3 by noonnoo.              Log in.




www.summit1031bkjustice.com/?page_id=1845                                                          11/11

								
To top