It has been awhile since we updated the appraisal community on developments in the wave of lawsuits filed by Llano Financing Group LLC (Llano). Our last update was issued on February 18, 2016 so here is what has transpired since then.
· From what we know, Llano has yet to prevail in any case it filed based on the merits of any of the arguments it tendered in the original or subsequent amended complaints.
· Llano lost several cases on motions to dismiss based on the court deciding the applicable statute of limitations had expired.
· A few cases were decided (dismissed) when the court ruled the complaint failed to even state a claim upon which relief could be granted.
· Others were dismissed by the plaintiff (Llano) when it seemingly became apparent Llano would have to spend money and actually prepare a case for trial.
· One case was dismissed by Llano to avoid letting the court rule on the defendant appraiser’s counterclaim for frivolous litigation.
· One court ruled that the assignment of rights to Llano was deficient on its face and could not support the argument that the plaintiff had any rights to file and maintain the action in question.
· During roughly this same time period, the actual owner of Llano, Collins Asset Group, seems to have taken control over quite a few of the pending lawsuits leading us to believe the Ganter brothers are no longer in charge of litigation strategy.
· We attempted several times to reach and speak with the general counsel at Collins Asset Group in the hope that he might be willing to share how Collins got involved with the Ganters in the first place.
· Our attempts to engage further with the general counsel at Impac Mortgage Holdings, the entity that assigned the rights to Savant/Llano have gone for naught.
· Our reply to the attorney who sent us, on behalf of the Ganters and Llano, a “cease and desist letter” must have fallen on deaf ears. Apparently, the implied threats in the letter were without any basis…much like many of the cases filed by the Ganters in the name of Llano, Savant, First Mutual Group, Mutual First, and Heritage Pacific
If you have anything to report on Llano, the Ganter brothers, or any of the other entities owned or controlled by the Ganters, please let us know. Until then, keep fighting the good fight, don’t let yourself be bullied, and know that you are not alone in standing up for truth and justice.
Author: Brian L. Trotier, JD, is the Executive Vice President and Chief Operating Officer of FREA and a former practicing attorney with more than 30 years experience in real estate and risk management.