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Group Legal Representation

Several investors / partners of the various partnerships has formed a group to share legal expenses in an effort to:

  • Separate the partnerships from the bankruptcy involving Money Mortgage (the firm that manages and collects loan payments for the various partnerships)
  • Amend or modify the various partnership agreements to allow the general partner of the partnership to resign, the limited partners to terminate a general partner, and clean-up language including, for example, how to call a partnership meeting.
  • Forming Limited Liability Companies to act as the new general partner(s).
  • Assistance in calling a meeting for the partnerships.
  • Terminating the servicing agreement with Money Mortgage for the partnerships.
  • Working with the bankruptcy trustee, and working to have the bankruptcy stay lifted that is prohibiting the distribution of funds collected for the various partnerships.

The firm that we have chosen to assist us is Fulbright & Jaworski, LP. The lawyers have already started this process. Currently, we have approximately 280 investors (plus some partner's entities) that have contributed to these efforts. We are also coordinating efforts with other lawyers representing individuals so that duplication of efforts is held to a minimum.

How to Join: If you wish to join our group, we ask that you sign and return a Sharing Agreement, provide your last statement with Lapin & Wigginton, and contribute .1% (one-tenth of one percent) or $500, whichever is greater, to fund this effort. As a group member, you will be apprised of developments and be able to ask questions of our legal council (in a group format).

Download Sharing Agreement (pdf) . . . Adobe Acrobat Reader (free download)

Instructions: Please download the Sharing Agreement. Then print, review, and return the agreement, with a copy of your last L&W Statement, along with your contribution (made to Fulbright & Jaworski) and mail to:

Forrest Jenkins
5404 Braeburn Dr.
Bellaire, TX 77401

Investor Group Managers:

Marcia Feldt Bates
Russell Vail

David Fleishman
Clive Fleishman
Kathy Mincberg
Ed Peine
Kevin Burke
Harold Watkins
Bob Brackman
Jerald Broussard
Forrest Jenkins

Involved Partnerships:

1611 LABRANCH LENDERS LP/LALEE LIMITED
1634 LENDERS/ WESTHEIMER
1950 LENDERS LTD./STERLING DEVELOPERS LP
249 LENDERS, LTD./HILCOM PARTNERS, LTD
AMC FUNDING, LP / PINE VALLEY
ASTRO LENDERS, LP / COUNTRY VILLAGE

BELLAIRE LENDERS / VERHAEGE GELD FUND
BONITA MORTGAGE LP / GULF COAST RV
BONNIE BRAE LENDERS, LP / MONTANA DEV.
BRACKBRAD FUNDING, LP / WATSON 10111

BROOKSHIRE/TEAL CREEK
BUCKEYE MORTGAGE/BAYSIDE PROMENADE
BUCKHORN MORTGAGE, LP / SAMPLE 1129
CARRIAGE LENDERS LP / 1121 WALKER PARTNERS LTD
CASTLE COURT, LP / MONTANA REALTY

CHESTERFIELD MORTGAGE/FORESTBROOK
DANBURY LENDERS, LP/RIDGEMONT SUBDIVISION
DELL FUNDING / MARSHALL'S HARBOR
ENERGY LENDING / ENERGY PARK
EVERGLADES MORTGAGE LP / DORA AMOS

FLAVILL FUNDING / FLAMINGO TERRACE
FLINT MORTGAGE GROUP, LP/SAVANNAH PLANTATION
FONDREN COURT LOAN
GARDEN LAKE MORTGAGE/ERIC FLOYD
GESSNER LENDERS / SUTTLES
GRAND ISLAND MORTGAGE/GRAND MISSION
GULFPORT LENDERS, LTD./STERLING-COMMODORE LP
INDIAN RIVERS LENDERS LP/MARSHALLS CONDO
LAKESIDE FUNDING, LP / MONTANA DEVELOPMENT
MONTICELLO MORTGAGE LP/ESTATES OF WILLOWCREEK
NEW HAVEN MORTGAGE A/DOWNTOWN HOTEL
NORTH HOUSTON / FAIR GREEN
OKC LENDERS/WINGATE PARK
ORLANDO MORTGAGE, LP / CAMPBELL PROJECT

PIN OAK FUNDING / CANE ISLAND DEV.
RANGER MORTGAGE GROUP/TEXAS PERFECTION RANCH
SAH MORTGAGE/TERRELL RESORT PARTNERS
SALEM MORTGAGE LP/MARSHALL'S VISTA,LTD
SAN GABRIEL MORTGAGE, LP / GILMORE LOAN

SAVANNAH LENDING / CRESCENT COVE
SEVEN OAKS LENDERS/ TERRELL RESORT PARTNERS
SILVER CHASE LENDERS/LYNN MARKS
SOUTH TEXAS FUNDING, LP / TRES DESEOS

SOUTHEAST TEXAS MORTGAGE LP/LAKE HOUSTON ESTATES INC.
SPRING BRANCH TOWNHOMES, LP / FRENCH ESTATES
SPRINGFIELD LENDERS, LP / MARSHALL TRACT

STONE HAVEN LOAN
ST. JOHN MORTGAGE LP / GALVESTON PROJECT

SUPERIOR MORTGAGE LENDING/SUN ENERGY, INC.
TEJAS LENDING GROUP/MARSHALL'S POINT LIMITED
THAMES MORTGAGE LP / PALM DESSERT

TIMMONS LENDING / AMANCHARLA & ROSE LAKES
WATERFORD LENDING GROUP/NEW MILLENNIUM HOMES, INC.
WATERFRONT MORTGAGE LP/AERO FBO
WINSTON MORTGAGE LP / 11451 KATY FREEWAY LTD
WOODLAND FUNDING / CYNDAL PORTER

Our group has received many documents on the partnerships, and has begun to analyze which partnerships are performing (cash-flow), or may need some immediate action, and should be converted first. We will also coordinate with attorneys who may be working for the same goal. Other partnerships may be added, or worked by others.

 

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