All Roads Lead to Rome - Banks play both sides of the insolvency game Administrating and Appointing Recieivers and Liquidators, choosing the buyers of the "distressed assets". And controlling the parties through threats and threatening behavior. What if Banks were going one better and actually picking their victims and creating the corpses to pick from. Operation Rotten Tomato is the perfect storm of friends, greed, power, corruption, cronyism and collusion.
SK Foods LP, SK Foods Australia, the Salyer Entities, Trusts and the person
Scott Salyer all highly solvent, high earning, going concerns until Bank of
Montreal/BMO Capital Markets/Harris Bank and ANZ deemed them to be "insolvent"
and forced into automatic involuntary Chapter 11 Bankruptcy in California and
Receivership in Australia. The banks claim due to news articles implicating
the borrower in an FBI Probe and Investigation, which initially ran in The Los
Angeles Times in September 2008.
The insolvency players
Chicago based Bank - BMO Capital Markets
ANZ Bank of Australia
Chicago world headquarters for AG - Wells Fargo Bank
Chicago based Development Specialist Inc (DSI) with a Los Angeles affiliate
Chicago based Duff and Phelps
Australia's Korda Mentha
All took their place on the "Gravy Train"
"When administrators, liquidators and receivers are appointed, they are required
to sign a DIRRI, (Declaration of Independence, Relevant Relationships and Indemnities).
The DIRRI is designed to ensure independence, to ensure that the wind-up is conducted
in the interests of all creditors not just the most powerful."
But, liquidators, Sheahan Lock Partners do not agree with that stance:
"John Sheahan, the principal of Sheahan Lock Partners, has been a critic
of the conflicts in the system. He says the DIRRI regime should be toughened up
for starters. Not only contractual obligations of insolvency practices - where
there is a panel - but also practical commercial conflicts, such as getting a
lot of bank work, should be declared. Further he believes that ASIC should appoint
an independent review panel, or practitioner, to look at particular administrations.
In this way would be clear for legitimate claims to be pursued and frivolous claimes
over asses struck out. 'Perhaps, says Sheahan, a liquidator or administrator could
report to ASIC any overt or implied threats brought against them by another
Wouldn't it be interesting to learn that a competitor named Morning Star Packing
Co, a partner with JG Boswell Co from the Los Angeles Times (now owned by Chicago
Tribune) family and one of the Syndicate Banks, Wells Fargo, who have the Morning
Star Packing Co loan with Heinz as the guarantor are the creators of the "FBI
Probe and Investigation", nothing more than a story they told.
The wrong doing is so simple, blatant and all encompassing and the collusion is
not even hidden from view. An arrogance fueled by the ownership of a Bankruptcy
Magistrate and possibly a judge or two scattered throughout the Chicago IL and
California court system, the FBI and the DOJ at the Eastern District of CA and
Attorney General Eric Holder himself.
Major worldwide banks the driving forces in the Salyer case, Bank of Montreal,
Wells Fargo Bank, B of A, US Bank and ANZ Bank of Australia, fueling the illegal
attempts to confiscate and restribute assets amongst themselves illegally, depriving
creditors and shareholders.