Barney Finally Called On His High Jinx

 IMPORTANT SITE UPDATE - BLOG SITE MOVED

PLEASE NOTE:

BAR-K Investors HAS MOVED. We found a website that offers better functions and features as well as a more aesthetically pleasing layout. Please click the link below and bookmark this new site:

http://barkinvestors.wordpress.com/
 On October 6, 2010 we discussed Barney's Supplemental Statement filing.  This filing asked the bankruptcy court to allow Barney's group to hire a few firms, amongst them the Kelly Law Group.  KLG was to provide legal services to the Siena.  As we all know, the Kelly Law Group is run by (virtual) legal dynamos Stephanie & Matthew Kelly, also known as Barney's daughter and son-in-law. 

**BREAKING NEWS** SIENA HOTEL SHUTTERED

IMPORTANT SITE UPDATE - BLOG SITE MOVED

PLEASE NOTE:

BAR-K Investors HAS MOVED. We found a website that offers better functions and features as well as a more aesthetically pleasing layout. Please click the link below and bookmark this new site:

http://barkinvestors.wordpress.com/
Inside sources report that the Siena will close at noon today. 

This page will be updated as the story unfolds.

Per a document filed by Hi-Five's attorneys yesterday:

Assignments to Wells Fargo Foothill

A quick search of the Harris County (TX) Clerk's Office website shows that RE Loans assigned its interests in the Bravo Marshall development to Wells Fargo Foothill (pasted below).  It's not difficult to track down these assignments to WFF.  REL noteholders were led to believe that each and every loan was assigned to WFF.  Is this the case?  If not, why would B-4 Partners exclude certain properties from the deal with WFF?  If there were certain properties not assigned to WFF, where did they go and who got them?  Could they be viewed as preferential payouts to preferred investors?  What makes one investor more important than another?  If this happened, B-4 could be much more ethically challenged than we imagined.  As we methodically work our way down the list, loan-by-loan, we'll see if this is true. If anyone has information on this subject they care to share, please do so here.

File Number Description Type Vol. Pg. Names File Date YYYYMMDD Sec. Lot Block Misc. Pgs Film Code 20080153115 SEE INSTR ASSGN Grantor: RE LOANS LLC Grantee: WELLS FARGO FOOTHILL LLC 20080328 9 RP055290556 20080433825 SEE INSTR SUBORD Grantor: RE LOANS LLC Grantee: BARRINGTON SEC 2 20080819 2 RP059241310 20070467886 KINGWOOD LAKES SOUTH ASSGN Grantor: RE LOANS LLC Grantee: WELLS FARGO FOOTHILL LLC 20070801 01 INSTR 5 RP047860917 20090113699 BARRINGTON SUBDIVISION PT REL Grantor: RE LOANS LLC ETAL Grantee: BRAVO MARSHALL COMMUNITIES LP 20090319 01 B0002 INSTR 5 ER010971715 20090113702 NO 096693Z REL Grantor: RE LOANS LLC ETAL Grantee: BRAVO MARSHALL COMMUNITIES LP 20090319 5 ER010971720 << Previous 1 Next >>

Siena BK Venue Change Confirmed

The latest filing from Barney's attorneys lists the following:


Hearing
DATE: October 21, 2010
TIME: 11:00 a.m.
PLACE: 300 Booth Street, Courtroom 3
Reno, NV 89509

The judge is the Honorable Gregg W. Zive .  Zive is also handling the Station Casinos BK.

Wikipedia Needs Your Help

There's so much left unsaid on the Siena's Wikipedia site.  Who wants to take a stab at correcting the record?

http://en.wikipedia.org/wiki/Siena_Hotel_Spa_Casino

Siena Hotel & Casino - Is The End Near?

According to a local TV station, the Siena's casino floor is not currently open due to money woes. 


READ THE STORY BY CLICKING HERE

More here, too

Comments on the Siena's Supplemental Statement re: BK

On September 22, 2010, Andy S. Kong of the law firm Arent Fox submitted a "Supplemental Statement in support of: (1) Motion for authority to obtain post-petition financing; (2) Motion for order authorizing debtors and debtors-in-possession to employ certain professionals in the ordinary course of business and to set procedures; and (3) Joint motion of One South Lake Street, LLC and Wild Game Ng, LLC for order authorizing the interim modification of the debtors' hotel casino lease and land lease."

We have already discussed the lease and the suggested modification (3), so let's focus on items (1) and (2).