From: Scott Gordon via Mesaterracehoa <mesaterracehoa+scott_at_gordon.bz@gaggle.email>
Sent: Friday, May 5, 2023 8:51 PM
To: Michael Carmel <michael@mcarmellaw.com>
Cc: Mesaterracehoa <mesaterracehoa@gaggle.email>
Subject: [Mesaterracehoa] Mesa Terrace Condo Assoc - Financing Request
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
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.
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