FW: Mesa Terrace Condo Assoc - Financing Request

 

 

From: Michael Carmel <michael@mcarmellaw.com>
Sent: Monday, May 8, 2023 3:24 PM
To: Scott Gordon <scott@gordon.bz>
Subject: RE: Mesa Terrace Condo Assoc - Financing Request

 

Scott,

 

Provide me with the basic information I have requested and we can take the next steps.

 

Michael W. Carmel, Esq.

Law Offices of Michael W. Carmel, Ltd.

80 E. Columbus Avenue

Phoenix, Arizona 85012

 

*Also admitted in New York

 

Ph.  (602) 264-4965

Mobile: (602) 206-7900

Fax: (602) 277-0144

 

This communication (including any attachments) is from a law firm and may contain confidential and/or privileged information that is protected from disclosure under applicable law.  If it has been sent to you in error, you are hereby notified that any dissemination, distribution, or copying of this transmission is strictly prohibited.  Please contact the sender for instructions concerning return or destruction by replying to Michael@mcarmellaw.com, and do not use or disclose the contents to others.

 

From: Scott Gordon <scott@gordon.bz>
Sent: Monday, May 8, 2023 1:20 PM
To: Michael Carmel <michael@mcarmellaw.com>
Cc: Lamar Hawkins (lamar@guidant.law) <lamar@guidant.law>; patty.chan@usdoj.gov; Mesaterracehoa <mesaterracehoa@gaggle.email>; sales@canyonridgeproperties.com; Corrales, Jody A. <jcorrales@dmyl.com>; Chandler, Jeanna <JChandler@udalllaw.com>
Subject: RE: Mesa Terrace Condo Assoc - Financing Request

 

Based on your response it appears you have no intentions of working with anyone else but Zongfu. 

 

You want a $250,000 loan to pay off legal fees.  You will not provide any information on how the loan could/would be secured or how many years you are seeking the loan for?

 

Will you explain to us as a potential lender the process of how this gets approved so we understand the process and applicable risks?

 

Scott

Canyon Ridge Properties, LLC.

 

 

From: Michael Carmel <michael@mcarmellaw.com>
Sent: Monday, May 8, 2023 3:12 PM
To: Scott Gordon <scott@gordon.bz>
Subject: RE: Mesa Terrace Condo Assoc - Financing Request

 

One final time:

 

What are the basic terms Canyon Ridge and/or you are willing to make the loan:  Secured or unsecured.  Interest rate.  Length of time to repay.  Frequency of payments.   You already know the amount being sought.

 

Michael W. Carmel, Esq.

Law Offices of Michael W. Carmel, Ltd.

80 E. Columbus Avenue

Phoenix, Arizona 85012

 

*Also admitted in New York

 

Ph.  (602) 264-4965

Mobile: (602) 206-7900

Fax: (602) 277-0144

 

This communication (including any attachments) is from a law firm and may contain confidential and/or privileged information that is protected from disclosure under applicable law.  If it has been sent to you in error, you are hereby notified that any dissemination, distribution, or copying of this transmission is strictly prohibited.  Please contact the sender for instructions concerning return or destruction by replying to Michael@mcarmellaw.com, and do not use or disclose the contents to others.

 

From: Scott Gordon <scott@gordon.bz>
Sent: Monday, May 8, 2023 1:05 PM
To: Michael Carmel <michael@mcarmellaw.com>
Cc: Mesaterracehoa <mesaterracehoa@gaggle.email>; Scott Potter (scott@arizonapropertylaw.com) <scott@arizonapropertylaw.com>; Lamar Hawkins (lamar@guidant.law) <lamar@guidant.law>; Corrales, Jody A. <jcorrales@dmyl.com>; patty.chan@usdoj.gov; sales@canyonridgeproperties.com; Chandler, Jeanna <JChandler@udalllaw.com>
Subject: RE: Mesa Terrace Condo Assoc - Financing Request

 

Canyon Ridge Properties, LLC (CRP) is interested in participating in the conversation.  You are seeking a $250,000 loan to pay current legal fees and asking we provide terms without any context or understanding on the # of years, how it is being secured, etc.

 

We asked some basic questions and stated we would participate in a meeting.

 

We assume you are working with Zongfu directly and he is the same individual to approve the loan on behalf of the HOA.

 

We understand per the filings that the previous plan was not approved, and the special assessment was not approved either.

 

It is our understanding per the HOA Documents that a loan requires 2/3 vote.  We have not seen any notice for this meeting.

 

Again, CRP is interested in participating in the meeting and supporting the community but need further information before we can provide a term sheet.

 

How can we get more information on the request?

 

Is there an open meeting relating to the loan or are all discussions taking place in private with no opportunity for the homeowners to participate?

 

Please let us know how we can participate in the process.

 

Scott

Canyon Ridge Properties, LLC.

 

From: Michael Carmel <michael@mcarmellaw.com>
Sent: Saturday, May 6, 2023 9:01 AM
To: Scott Gordon <scott@gordon.bz>
Subject: Re: Mesa Terrace Condo Assoc - Financing Request

 

The new loan will be sought this week. Expedited relief will be requested. Do you or do you not want to make a proposal?  If you do, let me know your terms so it can be compared. 

Michael W Carmel

Law Offices of Michael W Carmel, Ltd. 

80 East Columbus Avenue

Phoenix, Arizona  85012

Office:  (602) 264-4965

Mobile:  (602) 206-7900

 

*Also admitted in New York

 

Sent from my iPad

 

On May 5, 2023, at 6:50 PM, Scott Gordon <scott@gordon.bz> wrote:



Received your communication.  Understand you (the Trustee) are working with the Board to secure financing ($250,000) to pay open legal fees.  These funds will be used only to pay legal fees and not address any of the open needs of the community IF I understand the request.  We are happy to participate in the conversation.  Without understanding the goal, it is difficult to provide terms.  We understand the Board has terminated the Debtors legal counsel (Guidant) and the Board is hiring a new firm to prepare a new BK plan.  Assume additional funds will be required for this firm as well.

 

Are you seeking to facilitate a loan before the new plan is even proposed?  How does the Board envision the loan will be secured?  What funds will be used to pay back the loan?  Is this a short-term loan or a long-term loan?

 

Assume there will be an open Board meeting about this topic (financing/loan) and we are happy to participate.

 

Scott

Canyon Ridge Properties, LLC.

 

From: Michael Carmel <michael@mcarmellaw.com>
Sent: Friday, May 5, 2023 12:00 PM
To: Scott Gordon <scott@gordon.bz>
Subject: Fwd: Mesa Terrace

 

Please see the below email string and let me know if you are prepared/willing  to loan the Debtor monies. If yes, send me the terms. 

Michael W Carmel

Law Offices of Michael W Carmel, Ltd. 

80 East Columbus Avenue

Phoenix, Arizona  85012

Office:  (602) 264-4965

Mobile:  (602) 206-7900

 

*Also admitted in New York

 

Sent from my iPhone

Begin forwarded message:

From: "Chandler, Jeanna" <JChandler@udalllaw.com>
Date: May 5, 2023 at 9:56:51 AM MST
To: Michael Carmel <michael@mcarmellaw.com>, Jody Corrales <jcorrales@dmyl.com>
Subject: RE: Mesa Terrace



Hi Mike:
Jody and I are only dealing with the litigation matters.  You should be in touch with Canyon Ridge's MN attorney or Scott Gordon, directly (you have my blessing), about any potential financing proposals.

Thanks,

Jeanna

 

Jeanna M. W. Chandler, Partner Assistant: Naomi Eddleman (NEddleman@udalllaw.com)
	4801 E. Broadway Blvd., Suite 400 Tucson, AZ 85711-3638 520.623.4353 www.udalllaw.com

 

 

From: Michael Carmel <michael@mcarmellaw.com>
Sent: Wednesday, May 3, 2023 11:29 AM
To: Chandler, Jeanna <JChandler@udalllaw.com>; Jody Corrales <jcorrales@dmyl.com>
Subject: Mesa Terrace
Importance: High

 

Jeanna & Jody,

 

I am working with the new Board on obtaining financing to cover all court-approved administrative fees and costs.  In the past Mr. Gordon has indicated a willingness to provide such financing.  The current approved and unpaid fees total $167,138.86.  Additionally, Guidant filed an application for $68,923.05, and there are accruing fees for the Trustee and special counsel.  The approximate amount of the loan will be $250,000.00.  Please discuss with Mr. Gordon whether he is willing to make a loan to the debtor, and if yes, what are the terms.  I intend to file a Motion within the next couple days, so appreciate quick response.

 

Thank you very much.

 

Michael W. Carmel, Esq.

Law Offices of Michael W. Carmel, Ltd.

80 E. Columbus Avenue

Phoenix, Arizona 85012

 

*Also admitted in New York

 

Ph.  (602) 264-4965

Mobile: (602) 206-7900

Fax: (602) 277-0144

 

This communication (including any attachments) is from a law firm and may contain confidential and/or privileged information that is protected from disclosure under applicable law.  If it has been sent to you in error, you are hereby notified that any dissemination, distribution, or copying of this transmission is strictly prohibited.  Please contact the sender for instructions concerning return or destruction by replying to Michael@mcarmellaw.com, and do not use or disclose the contents to others.