Colson update: Judge Ozerden orders more disclosure on A&O partners
In the Colson litigation, Judge Ozerden was not satisfied with A&O's affidavit identifying its partners, and issued the following text order in both cases:
TEXT ONLY ORDER directing movants A&O Bonded Life Assets Management, LLC; A&O Bonded Life Assets, LLC; A&O Bonded Life Settlements Management, LLC; A&O Bonded Life Settlements, LLC; A&O Capital Management, LLC; A&O Life Fund Management, LLC; A&O Life Fund, LLC; A&O Life Funds Management; LLC, A&O Life Funds, LLC; A&O Resource Management, Ltd.; Houston Tanglewood Partners, LLC; Life Fund 5.1 Management, LLC; Life Fund 5.1, LLC; Life Fund 5.2 Management, LLC; and Life Fund 5.2, LLC, to file into the record in this case on or before Friday, May 29, 2009, an Affidavit or Declaration identifying the members of Blue Dymond Capital Group, LLC, and their respective citizenships, and identifying any general or limited partners of A&O Resource Management, Ltd., other than the previously identified general partner A&O Capital Management, LLC, and their respective citizenships. NO FURTHER WRITTEN ORDER SHALL ISSUE FROM THE COURT REGARDING THIS DIRECTIVE. Signed by District Judge Halil S. Ozerden on 5/19/2009. (EMN) (Entered: 05/19/2009)
With $1.5 million interpleaded by Wachovia, the filed claims to date are:
- Lawyers Title: $10 million
- Adams Homes: $624,000
- Seashore: $428,000
- Coldwell Banker: unspecified
- Denada Invest.: $530,000
- A&O Life Funds: $3 million
Total: $14,520,000 (plus Coldwell Banker's claim)
This means that there is at least $13 million in claims in excess of the amount available to satisfy those claims.
I am one of the investors that was issued a Capital Appreciation Bond from A&O Life Fund. Though we received a "letter to investors", the info you've provided here gives much more detail on the policies that are affected. Thanks you for the updates. There is supposedly a holding company named Physician Trust. We know nothing about them or the principals. PCI is the bond company, and they use Entrust for all qualified monies. Not as much transparency as I'd like to see, but the private offering seemed to be structured correctly . In the end, I think it is a case of Prestige Title spending/absconding with the funds.
i had an aunt in 2005 whom the previous power of attorney invested a large sum of money in a line of credit loan agreement with houston tanglewood partners LLC with a viatical life insurance policy as collateral. i have recently tried to contact them about this matter and had all my letters returned undeliverable. does anyone know anything about this company or this type of investment. i fear my aunt's money was invested fraudently and is lost.
Post your sales agent and his/her address and email for any A&O product here including Houston Tanglewood.
Prestige Title Co handled my mortgage refinancing found out this weekend that my taxes were never paid. Now, must pay penalty etc...almost $1800.
Written the CEO many times...NO HELP.
Thank you,
Quay Parks
My family invested with A&O life but due for the return in Aug (contract matured on 2nd). A&O is paying and told us that the money is at risk. Last January, Mr. Mackert did not tell us about any issues, now he mentioned today that A&O has not money to pay for the ongoing policies and he changed his office and phone#s recently (w/o letting us know). He sent our qtrly statement to a wrong address. Is anyone working with an attorney and can share the attorney's name in Houston? Thanks.
Received notice of Chapter 11 Bankruptcy Case for A&O Resource Management, Ltd. filed on Sept. 2, 2009. I also heard that the FBI was interviewing certain A&O investors several weeks ago.