Valley Mortgage Receivership
Welcome
On May 29, 2009, an Order Appointing Receiver was entered in Denver District Court action # 09CV5332, styled FRED JOSEPH, Securities
Commissioner for the State of Colorado, Plaintiff, vs. PHILLIP LOCHMILLER and VALLEY MORTGAGE, INC. Defendants. Rider & Quesenberry
LLP was appointed receiver of the Estate (as that term is defined in the Order) of Valley Mortgage, Inc. and a number of legal entities
affiliated with it. In the order dated April 27, 2010, the district court judge in the State Court Receivership expanded the
powers and authority initially granted the Receiver to include the following:
"The right and sole authority to exercise all of
the powers of the Valley Entities, through or in place of their board of directors, managers, officers, to the extent necessary to
manage the affairs of each of the Valley Entities in the best interest of its authority shall include, without limitation, the authority
to petition for protection under the Bankruptcy Code, 11 U.S.C. § 101 et seq. (the 'Code'), for any or all of the Valley Entities,
and in connection therewith be and be deemed a debtor-in-possession for any or all of the Valley Entities in proceedings under Chapter
11 of the Code." (Emphasis supplied)
On April 19, 2010 (the "Petition Date"), the Receiver caused the Debtor to file its voluntary
petition for relief under Chapter 11 of title 11, U.S.C. (the "Bankruptcy Code"), in this Court (the "Bankruptcy Court"). The
Receiver lodged a Notice of Bankruptcy Filing in the State Court Receivership on the Petition Date, thereby suspending and staying
the State Court Receivership.
This website is maintained by the law firm of Rider & Quesenberry, Receiver. The purpose of
the site is to provide selected pleadings, documents, key dates and status reports to interested parties regarding this matter. Neither
the Receiver nor his counsel can or will provide legal advice to creditors, investors, or other interested parties. As the Receivership
proceeding is a complex legal matter, all parties are encouraged to retain and consult with their own legal counsel and accountants
regarding this matter.
This website is not a secure website. For this reason, we have not provided a means of making inquiries
to the receiver through this website nor a means for investors to communicate with each other on this site. The receiver will develop
a set of Frequently Asked Questions for investors to review, and will offer investors a chance to participate in periodic teleconferences.
Investors should be properly cautious when receiving calls or e-mails purporting to be from the receiver or the authorities. The receiver
will NOT be sending e-mails to any investors, either collectively or singly. The receiver will NOT request social security numbers
or personal financial information from investors except during the claims administration process. The claims administration process
will be purely in hard-copy form via U.S. Mail, not electronic form.
The FBI has set up a hotline for inquiries into the matter,
and you may call them at 303-575-7012 regarding the criminal investigation.
Copyright 2009 - Rider & Quesenberry, LLP
