Hi,
Does anybody know anything about Pinnacle Development Partners, LLC? I saw their ad in Newsweek and the return they promise investors for buying Atlanta foreclosures sounds too good to be true.
Thanks!
Not 10 minutes after my post I received a call from Shuwanda Sloan regarding my check so I feel much better. Everyone keep your hopes up... you are all good people that something bad happened to.
I'm also in CA and yet to receive my check. I sent an email to Shaunda a few days ago but no response. My claim amount was over 100k. Please PM me if you are from southern cali.
I just signed a large group of checks that will be released today. We have now mailed approximately 95% of all checks. My staff and I are diligently working to finalize the review the estimated 100 remaining claims and will get the First Interim Distribution checks in mail as soon as that process is completed.
As I mentioned in a prior post, as I was about to release the checks, I uncovered an issue that my office had not caught in processing the proof of claim forms. We had not gone back to the original checks payable to Pinnacle to identify the actual source of funds and are now taking that step. Many investors made investments from individual names and corporate entities, but filed only one proof of claim form in their individual name. Others filed one claim form when many people from the same family actually invested. To correct this situation, we are sending a declaration to the investors to clarify the proper payee and authority of the any officer signing for a corporate entity. We are contacting the investors that commingled personal and corporate accounts or co-mingled family accounts and are asking them to sign the investor declaration. In many cases this requires splitting claim or changing the names of the payee.
Checks are not being released according to any set pattern, but rather as they are reviewed to make certain the above issue are resolved. We have tried to get all the straight forward claims out and should only have co-mingled accounts left to resolve.
I apologize for the delay and we are getting checks out as quickly as we identify and resolve these issues. To date we have mailed approximately 1,900 checks.
Please email Shuwanda Slone at [email protected] or Linda Baldwin at [email protected]. if you have any specific questions regarding your claim. We will research as quickly as possible and get back in touch with you.
We are continuing to work on selling the properties and hope a few more close this fall. We will make a second distribution when sufficient funds are available to make a meaningful distribution.
Thanks for the information Receiver. I am waiting on 2 checks and am in Northern CA. I don't fall into the situations you described in your email so I still am a bit concerned. I, however, will try to be positive and patient!
Hi All - Just checking in and giving an update. Still no check over here in NorCal. Why did all of the original people on this post disappear? Maybe because they all got their checks. makes you go hmmm... :cry:
They all disappeared because they all got their checks. Not to cause you more grief in Nor Cal but I have friend there who received their check over 3 weeks ago.
When are they mailing these checks? I haven't seen anyone on this post in over a week stating they received a check in the mail. Where did they go? :beer:
Hi All - Just checking in and giving an update. Still no check over here in NorCal. Why did all of the original people on this post disappear? Maybe because they all got their checks. makes you go hmmm... :cry:
And the ones that were on this post two, three, four months ago writing in all the time must have got paid too. I guess the squeeky wheel gets the grease. I am glad they got paid but I sure wish we would get paid too.
I check in every day........but no check here yet either. I sent Shuwanda an email Monday but haven't heard anything back. I will be calling if I don't have a check in the mail by tomorrow.
I'm very patient, but I just want to make sure that I haven't been forgotten, or that my check isn't in someone elses mailbox.
I am still without a check as well but I have been dealing with Shuwanda and things are getting sorted out. I was one of the fortunate few who sent funds in from two different accounts. One with my name on it only and one with both my wife and my name on it. I imagine some of you are in similar situations and that they will be resolved. We have all been very patient for a year now while this was being sorted out and these last few weeks of waiting have been excrutiating but know that we are being looked out for and the end is in sight. The people at Hays are great and they are doing their best to make sure that we get all that is coming to us. Good luck to us all.
I just signed another 30 checks that will get in the mail tonight. I can't tell your names from your posts, but I certainly hope your check is in that group.
My staff is working as fast as they can to review files and resolve any issues. As soon as a claim file is reviewed and any issues corrected, the checks are being cut.
We have had to contact many investors to resolve issues regarding co-mingled individual and corporate funds and this is taking longer than anticiapted.
Another day and no check. Something smells kind of rot. According to the post, most checks were mailed out last Friday. Since then, no one claimed to have received any. Now, checks were mailed out on Thursday (always on the weekend). I called many time and always gets conflicting stories. I'm sincerely hoping that this is not deja vu.
Epson, I checked with my team and they don't know who you are so we can't advise of the status. Please email Shuwanda Sloane at [email protected] and we will review and advise of status of your distributiion.
I do have to defend the folks at Hays. We are getting nervous, because its late in the "mailing out checks" game, and we haven't received anything. Those who have received theirs, are taking a much deserved break from this site.
I finally sent an email to Linda Baldwin at Hays, and she responded promptly. We found that my check had been mailed almost a month ago, but there was a squirrely problem with my address. Hopefully they'll find that the check hasn't been cashed, and they can resend.
Will keep all advised.
Thus far, my trust is in Hays and his team. Like I have to tell my wife sometimes, we aren't the only case and claims they are working.
I just signed another group of checks that will be mailed tonight. We continue to work our way through all checks and resolve any issues with investors. Please email us if you have specific questions.
With all respect due to the receiver, I spoke to Ms. Sloane already. I do not feel that I should identify myself on this blog. I believe that I have been patient. According to the receiver's post, approximately 1930 checks (and some more on Thursday night), have been mailed out. This is out of a possible 2000. I am hoping to get mine at least by Friday. I hope I would not be disappointed.