Friday, January 15, 2010

Evans update: Judge orders Mississippi Valley Title to give banks "all items" about the "historical relationship" with Charles Evans

For a collection of all posts on Evans case, see sidebar at the right. A synopsis of the case is at the bottom of this post.

Judge Olack ordered Mississippi Valley Title Insurance Company to provide several banks with documents and information regarding claims filed by the banks in the Evans case and the "historical relationship" between Mississippi Valley Title and Charles Evans.

The Bank of Forest, Merchants & Farmers, State Bank, Bank of Yazoo, First State Bank, Cadence Bank, and Community Bank filed a motion requesting the Court grant them permission to conduct a 2004 exam of Mississippi Valley Title.

Rule 2004(a) of the U.S. Bankruptcy Code states "On motion of any party in interest, the court may order the examination of any entity." Rules of Bankruptcy. MVT is the only party besides Chris or Charles Evans that has a true idea of the amount and number of claims, the properties involved, and the extent of any fraud that took place. The banks are thus attempting to use rule 2004 to learn exactly what is in MVT's hand as it adjudicates title insurance claims filed by banks victimized by the Evans brothers.

Judge Olack hammered David Clark, counsel for MVT in his ruling. The Court said Clark was "given a deadline in which to submit an order that reflected the rulings in the Bench Opinion and that was approved as to form by all other counsel." Translation: Judge Olack told Clark to submit an order that everyone agreed on within a certain time frame. Instead, the Court stated Clark "submitted one version and a later amended version of an order on the Motion that no other counsel had approved as to the form." The Judge then pointed out the parties could not agree on an order and chastized them for doing so, calling it "unacceptable" and that "further failure to comply with this court's directives regarding submission of orders may result in the imposition of sanctions or other relief."

The Court rejected the proposed orders by both sides and decreed:
1. MVT shall produce a property description and street address for each property insured by MVT that was issued to any creditor in the bankruptcy as well as
a. A lists of all interests against the property.
b. All items and analysis regarding each claim and its validity.
c. All appraisals for each property.
d. Any existing surveys for each property.

2. "All items regarding the historical relationship" between MVT and Chris Evans and between MVT and Charles Evans.

3. "All items that support the allegations contained in the original complaint and the first amended complaint filed by MVT in the Chancery Court of Madison County."

Copy of order

One can imagine the banks will make full use of this order, especially the part about the "historical relationship" as they have repeatedly accused MVT of hiding information from them.

Update: Old Republic's 3rd Quarter Earnings Statement. 4th Quarter release scheduled for January 28, 2010.

Synopsis of Evans case (This feature will be included with future posts on Evans case): Charles Evans, Jr. was an attorney approved by Mississippi Valley Title Insurance Company to provide title certificates to MVT and lenders showing a borrower had clear title to property. MVT filed a lawsuit in September accusing his brother of using over 30 LLC's to obtain fraudulent loans from over 30 banks in Mississippi. Chris Evans would allegedly use one company to purchase a large tract of prime commercial real estate in Madison and Desoto Counties. Another company owned by Evans would obtain a commercial real estate mortgage on a smaller section of the tract yet that borrowing company never obtained a deed showing ownership of the land from the other company. Thus the smaller tract was actually non-existed as the larger tract was never actually subdivided. Charles would allegedly provide a title certificate however showing the borrowing company owned the land even though it didn't. Over 80 loans for nearly $50 million were issued by Mississippi banks to companies owned by Chris Evans for lands those companies either did not own. MVT has testified federal authorities are currently investigating the case. Chris Evans filed Chapter 7 bankruptcy on October 26, which stopped the Mississippi Valley Title's lawsuit against him as federal bankruptcy law stays most state civil court proceedings once a bankruptcy petition is filed. Mississippi Valley Title testified 65 title insurance claims for approximately $41 million have been filed by banks affected by the Evans case.

5 comments:

Anonymous said...

So, what do you think? Are Clark's clients stalling for time because they know too much or because they, themselves, don't yet know what they don't know?

Anonymous said...

I think it's a stalling tactic because they don't want to pay and I think they "know" and don't want it to be public record.

Anonymous said...

Sounds like MVT is going down. Now they've peeved the judge off with this stalling crap. Oh I hope these banks hold MVT's feet to the fire. They want off the hook so bad, but if they are culpable in this, they need to pay the piper.

I don't mean to sound harsh, but I've had bad experiences with them and their people.

Kingfish said...

There is a simple way out of this: pay the claims for M&F, Bank of Forest, Bank of Yazoo, State Bank, First State, and Holmes County Bank and this fight will go away.

Anonymous said...

There are to many "unk unks" (unknown unknowns) They don't know what they don't know!



Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.