The case status is Pending - Other Pending. Even with the reduced water rates, we expect water will continue to be a substantial expense and all other expenses will continue e.g., electricity, labor, and insurance. Silver Saddle Ranch & Club Inc :: Superior Court of California, County of Los Angeles :: State Civil Lawsuit No. As you may be aware, the Court approved the sale of the Silver Saddle Ranch and Club (Ranch) for $2,100,000. This means that the Receiver can start calculating investors losses so that, if and when a distribution is ordered, the Receiver can begin sending money to investors right away. LAist is part of Southern California Public Radio, a member-supported public media network. Sales agents allegedly used high-pressure tactics that made it very difficult for potential customers to say no. Even though operating expenses have been reduced, maintaining the Ranch continues to drain the limited resources of the Receivership Estate. The Receiver took this claim seriously, his team exchanged correspondence with Mr. Jones, and he convened conference calls with the brokers.. Six former employees of the Saddle Ranch Chop House restaurant on the Sunset Strip in West Hollywood are suing the eatery chain, alleging they were subjected to sexual harassment by an. We also raise pigs and goats to sell to That's because the land Silver Saddle sold was "near worthless real estate," according to the DBO. Based upon an independent appraisal prepared for the Galileo Project land, the Receiver believes this offer is fair, reasonable, and at or above market value for the property. However, because the Silver Saddle Ranch & Club and the Galileo Project land are worth far less than the investors . THE CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT CHARGED SILVER SADDLE WITH FRAUD AND SHUT THE COMPANY DOWN IN 2019 In September 2019, the California Department of Business Oversight filed a. Silver Saddle Ranch & Clubruns and operates a resort facility in California City called the Silver Saddle Ranch and Club (Ranch), located at 20751 Aristotle Drive, California City, California 93505. Help us provide credible local journalism and timely NPR reporting to our entire community. Those investors who sent written challenges to the Receivers claims determinations and still disagree with the Receivers Final Determination may submit a written objection to the Court within fourteen (14) days of the Receivers filing of the Final Determination of Claims. March 23, 2021 Motion to Approve Distribution Method and Procedures. Case Details Parties Documents Dockets. Thats when the California Department of Financial Protection and Innovation raided Silver Saddles headquarters, halted all sales operations and took control of its bank accounts. This class action lawsuit was filed on 01/25/2022 in Orange County Superior Court. Based on an independent appraisal prepared for the Ranch, the Receiver believes the price is more than fair and reasonable. More information on these matters is available in the Receivers Fifth Interim Status Report (filed September 16, 2021) and the Receivers Sixth Interim Status Report (filed January 13, 2022). 13, 2020), Amendment to Complaint Adding SS Purchco, Kvassay, Huebner (Feb. 5, 2020), Amendment to Complaint Adding Kelly Maney (Dec. 5, 2019), Amendment to Complaint Adding Maria Rosales (Dec. 5, 2019), Temporary Restraining Order (Sept. 24, 2019), Motion to Approve the Sale of the Galileo Project Land, Declaration of Cornelia J. Port officials say "resuming cargo operations at Americas busiest port complex is critical to maintaining confidence of our customers and supply chain stakeholders.". BC314239 Your activity looks suspicious to us. Will Orange County's Fledgling Clean Power Agency Survive? The last 5 digits of the account number represent the investors unit number. No. On July 24, 2020, Judge Wohlfeil denied the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. The Receiver determined that it is necessary to reopen the sales process and allow all interested parties to present their best and final offers. The Receiver intended to use the money from the sale to pay the expenses of the Receivership Estate and provide a first distribution of funds to Silver Saddle investors to begin compensating them for their losses. Although the sale closed as scheduled, High Plains Mesa Holdings filed a Notice of Appeal of the Courts Order authorizing the sale. Many of those consumers ended up spending tens of thousands of dollars on land they were made to believe would be worth much more in the near future. As such, the Receiver accepted the offer and intends to seek Court authority to sell the Galileo Project land. The Court granted Mr. Maneys request on August 11, 2022, which means the trial in this case will no longer occur in September as previously scheduled. The business operations in Burbank have been terminated. An onslaught of velella velella washed up on shore this weekend on Southern California beaches. Editor I wish they would give the money back to us., When I interviewed Thomas Maney for the podcast in early 2019, he told me, Well, first of all, we've never misrepresented. If you think the Receivers claim determination is wrong, you have until April 8, 2022 to send the Receivers office a letter or email challenging the calculations. 3. (Chava Sanchez/KPCC). Any response must be filed before the hearing. On May 13, 2021, the Receiver asked the Court for permission to proceed with the sale of the land to the solar energy company. January 17, 2020 W-2s for Former Employees. Most of the money, the DBO learned, was gone. The Court said that the Receiver can continue to collect funds for the Receivership Estate, but the stay may affect the timing of a distribution to investors. However, because the Silver Saddle Ranch & Club and the Galileo Project land are worth far less than the investors paid into the Galileo Project, no investor will be returned all of the money he or she invested. 2 talking about this. At a hearing on October 16, 2019, the San Diego Superior Court issued a Preliminary Injunction with asset freeze and confirmed the appointment of the Receiver over the Receivership Defendants (Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc., as well as any other entity that has conducted any business related to Defendants offering and selling of the Galileo Project investment contracts). Each investor would receive a part of the proceeds from the sale proportionate to the money he or she paid for the property. Silver Saddle Ranch and Club (Ranch), located at 20751 Aristotle Drive, California City, California 93505. 4, 2022), Knight Decl. If and when the Court enters an Order allowing a distribution to investors, the Receiver will issue investor checks promptly and consistent with the claims determinations. house with a restaurant, saloon, game room, library, hotel lobby, fitness center, and offices; an Administration building used by staff; a Sales Pavilion and three buildings with a total of motel-type rooms to house guests. If you are an investor and do not receive a letter by March 15, 2022, please contact the Receivers office at info@regulatoryresolutions.com. Every investor should carefully review the Receivers claim determination. Copies of the Receivers Motion to Approve the Sale of the Ranch and Application to Shorten Time are available in the documents section of this webpage. Maney opposed the sale because he wants to propose a joint venture in which the Ranch is included in an agreement between the investors and a third party, Rick Jones. With the trial date approaching, the Receiver intends to proceed with the sale of the Galileo Project Land for $900,000 to the same individual who purchased the Ranch. But by the late 1960s, people who had bought land in California City were starting to realize that the growth they'd been promised wasn't happening. When the court-appointed receiver took over last September, Silver Saddle's finances were a mess. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. Each investor who submitted a challenge has been contacted by mail and email explaining the Receivers review and determination of their challenge. On September 28, the Receiver agreed to a sales price of $2,100,000 for the Ranch. 12. Silver Saddle Ranch and Club California, City, California USA Phone: 760-373-8617 Web: silversaddle.com Category: Unusual Rip-Off Silver Saddle Ranch and Club Silver Saddle Commercial Development LLCGalileo Project Land Banking Scam California, City California *Consumer Suggestion: Silver Saddle Ranch Club A pyramid scheme March 9, 2022 Motion to Approve Sale of Galileo Project Land Filed. Escrow was opened on July 2, 2020. Now, survivors and their descendants seek reparations. This case was filed in San Diego County Superior Courts, San Diego Central Courthouse located in San Diego, California. The Ranch is closed and will remain closed indefinitely. On 04/16/2019 JOSE CARRILLO filed a Labor - Wrongful Termination lawsuit against SILVER SADDLE RANCH CLUB, INC. On March 4, 2022, the Receiver filed a Motion to Approve the Sale of the Galileo Project Land. 2. On May 25, 2022, the California Attorney Generals Office filed criminal charges against a number of people in connection with the Silver Saddle Commercial Development-Galileo Project. Trial is presently scheduled for May of this year. All parties, including Feterik and Jones, were encouraged to submit a last, best and final offer with a Sept. 14 deadline. February 8, 2021 A Global Email was Sent to Investors Today Explaining the Receiver has Filed a Motion to Approve the Method and Procedures for a Distribution to Investors, Sale of the Silver Saddle Ranch and Club (Ranch). Nevertheless, the Receiver intends to recommend to the Court that the funds from the sale of the Ranch be used to make an initial distribution to Galileo Project investors. These expenses include water, electricity, labor, and insurance costs. Should the Court order the sale to go forward, the Receiver intends to recommend to the Court that the sale proceeds be used to fund an investor distribution. They sued Mendelsohn's company, which was then known as Great Western Cities. On September 29, 2020, California City approved the Ranch for a lower water rate, which should result in lower water bills. Low 44F. The Final Determination of Investor Claims will be used to calculate the pro rata share of any distribution ordered by the Court. Case Summary. Why A Key Program Is Falling Short, An Agonizing Battle With Schizophrenia Ends On A California Freeway. While the Ranch may be the Receivership Estate's most valuable asset, its costly upkeep, utilities, and insurance will soon deplete the limited funds of the Receivership Estate if it is not sold, the motion states. On 12/01/2017 MELINDA CERDA filed a Labor - Other Labor lawsuit against SILVER SADDLE RANCH CLUB INC.This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. Like many urban planners at the time, Mendelsohn thought major cities like Los Angeles were overcrowded, polluted and dangerous. After the Court does so, the Receiver will submit a proposed Order to the Court consistent with the ruling. In this new podcast from LAist Studios, host Emily Guerin tells a story of money, power and deception. We have reviewed records from Equiant and Silver Saddle which detail the investor payments recorded by the Defendants. To that end, on February 8, 2021, the Receiver filed a Motion to Approve Distribution Method and Procedures (Motion). 2023 Southern California Public Radio - All Rights Reserved, 'Beef' Stars Defend David Choe Casting. Today, most of the roads are abandoned. The Receiver will proceed with hiring a realtor and proceeding with listing and marketing the properties.