"..In the Beginning - Summit 1031 Principals hired Obsidian Finance Group, LLC (Part-Owner – Kevin Padrick), and Sussman Shank who contracted Terry Vance to help them solve their business’ liquidity problem.
It is seems like these parties who were called in to help, messed it all up for their own benefit.
You see…After the Principals spent the entire year of 2008 trying to solve the falling cash to short-term loan ratio in their exchanger fund investment portfolio on their own, they realized the problem was bigger than them. They looked for outside sources for help. One of these initial sources was Kevin Padrick. He made them think he could resolve the issue, otherwise they would not have hired him.
Now - You can see below what transpired next. I have been involved in this case for over a year and I have learned a great deal about our court systems. The biggest thing is that what has happened here in this Summit 1031 Chapter 11 bankruptcy is the same thing that is happening across our Great Nation. "
Source
http://www.summit1031bkjustice.com/?cat=16
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