A sell-out crowd of participants started Loyola VIII in Newport Beach at The Pacific Club dinner January 23, 2020 featuring Dr. Christopher Thornberg, founder of Beacon Economics, who delivered a historical review and forward-focused thoughts on the California economy. His message on that day was: good news for your investments. Bad news as of that date: it’s unlikely there will be a plethora of receivership cases. What a difference seven weeks make, as Covid-19 virus has spread around the world. Many of us are now working from home to try and stay well, while watching an economic train wreck unfold. Lost jobs, shuttered businesses, plunging retirement savings and daily bad news make the start of 2020 seem like a long time ago. This article recaps the Loyola VIII event as it happened in January.

Friday morning at the Renaissance Newport Beach, the 140 participants began an engaging day with breakfast and moved right into substantive programming. Loyola Symposium co-chairs, Mia Blackler and Dominic LoBuglio, along with Red Griswold, 2019 California Receivers Forum State President, offered opening remarks and thanks. Richard Ormond, California Receivers Forum State Projects Director, championed Loyola VIII from start to finish and shared in the main stage responsibilities throughout the day.

Designing, planning and executing Loyola VIII involved a team who worked about 18 months and reimagined Loyola. Shortening the Symposium from 2.5 days to 1.25 days, allowing 30-minute connection breaks in between hour programs, engaging the audience, aka the “sages in the seats,” expert-hosted discussion roundtable lunch, keynote speakers, continuous coffee, meeting areas with lots of natural light and the ability to get outside, all combined to create a high energy, experiential meeting with receivership practice ah-ha moments and new statewide relationship building.

The education sessions pulled in experts from around the state in the many professional segments working on receivership matters. Leading the education planning were Co-chairs Michael Davis and Michael Muse-Fisher with Education Co-chair Emeritus, Joel Weinberg.

Very special thanks go to the many companies that made all of this possible with their investment as sponsors, advertisers, speakers and participants. Kevin Singer, Ryan Baker and Nich Wilson recorded the highest level of sponsorship ever at a Loyola Symposium. The extras that contributed to this being a memorable event were possible because of their commitment to fundraising, and the industry answering the call for advertising, exhibits and sponsorship.

In addition to Loyola VIII being a Receivers Forum 25 year celebration, this program was also a tribute dedicated to David J. Pasternak who recently passed away. David was one of the LA/OC Chapter founders, a leader, mentor and a gentleman of honor in life. David Pasternak and Edy Bronston, both Loyola Law School (LLS) grads, called on the dean of Loyola Law School in 2000 and sought the law school’s support of CRF’s endeavor to provide complimentary law school space for the program, lend their academic halo to our concept and help launch the program. Several years of programs were held at the law school until we outgrew their classroom size and availability.

Dean Michael Waterstone shared remarks this year about the LLS commitments to preparing their graduates, not just to know law, but to be ready to practice; their student-driven appeals social justice project; maintaining the LLS high bar pass rate, high post-graduation employment rates and its commitment to professional excellence that is reflected in the substantial number of LLS alumni who are now judges. Dean Waterstone accepted the customary CRF $5,000 donation to the Loyola scholarship fund and encouraged CRF to continue the relationship.

Luncheon with Hosted Roundtable Discussions

The decibel level didn’t quite peg the meter, but reporting this session as lively and engaged is accurate.

All Things Cannabis by Kevin Singer, Receivership Specialists; Impacts of Recent Published Opinions by Shawn Christianson, Buchalter; Pitfalls in Selling Receivership Real Estate by Phil Seymour, The Seymour Group/Keller Williams; Using Real Estate Auctions to Broaden Reach to Buyers & Top Sales Prices by Todd Wohl, Braun International/Premiere Estates; Focus on Restaurant-Nightclub-Hotel Receiverships by Dennis Gemberling, Perry Group International; Receiver Neutrality and Receiver Communication by David Mark, Buchalter; Failed High Speed Rail Construction: Is Receivership a Path to Getting Farmers Paid by Chris Seymour, Seymour Law and Finding Assets & Other Hidden Valuables by Olivia Robinson, Background Intelligence; Risky Behavior and How to Avoid Bad Consequences by Alan Mirman, Mirman Bubman & Nahmias; Procedural Steps for Receivership Takeovers by Ryan Baker, Douglas Wilson Companies and Protecting Stakeholders in Ponzi Schemes, by Curtis Wright, and Carl Peta, Silver & Wright.

Cannabis and Receivership: How the Inability for Cannabis Businesses to File Bankruptcy Is an Opportunity for Receivers

Moderator, Oren Bitan and Panelists Seth Freeman and Vanita Spaulding discussed the receivership space and how the federal prohibition on cannabis businesses or filing bankruptcy in federal courts has created a protected, albeit often wild, practice area for receivers.

Heard in the Aisles

Religion, politics and sex... that’s what this talk was about,” said Zack Clement, but the golden nugget I will always remember is Zack’s comment, “Collect the estate and give it out fairly and don’t forget those who will come later and also be deserving.
Heard at the coffee break

Loyola always provides current subject matter of interest or relevance to our practice. This year, I was able to attend a conference on cannabis business receiverships – something I wouldn’t have thought I would ever need, but last year I was appointed as Receiver for just such a business! The panelists provided important information including the methods of valuation for sale of the business, current legislative actions, and information on taxation in this industry. It was a very helpful and productive session.
Tom Hebrank
E3 Advisors, San Diego

It was interesting to hear Judge Moreton point out that the law says receivership is an extraordinary remedy... then follow with reference to law providing for reasonable execution of a judgment being permissible, and concluding with the comment that an issue for judges may be that the remedy can be too expensive.
Jake Diiorio’s comment that Liquor Licenses can only be taken by a receiver, and that domain names and other IP may fall into the same section of law - that was worth the cost of my day at Loyola.
Anonymous

Federal receiverships can be challenging! These receivers faced everything from shotguns to death threats as they identified assets, detected fraud, recovered fraudulent transfers, and distributed funds to victims and investors. Candid accounts of actions that didn’t go exactly to plan, mixed with stories of tremendous success – riveting storytelling makes memorable education.
Olivia Robinson
Background Intelligence

I have had the opportunity to attend all eight Loyola programs for the California Receivers Forum. Number eight was no exception in terms of (a) attendance (most of the active receivers in California), (b) content – on point panels that dealt with the issues receivers face in cases every day, and (c) networking – a great blend of receivers and their support groups including banks, bonding companies, real estate agents, auctioneers, law firms and other important support groups. Veteran receiver lawyers like Byron Moldo and Kathy Phelps were among a group of panel leaders who covered their respective subjects well, while fostering excellent audience participation for maximum learning effect.
Robert Mosier
Mosier & Company, Inc., Costa Mesa

Loyola VIII was packed full of enthusiasm with creative solutions for both experienced and new to the profession receivers. During the health and safety panel’s presentation, I learned that government entities would greatly benefit from receivership education to assist them in solving their long-term challenges with real property afflicted by issues such as hoarding, illegal occupancy … and other unsafe conditions. As receivers, we have the ability to give the cities and counties tools for managing these situations.
Lee Ann Hitchman
Hitchman Fiduciaries, Newport Beach

Often when we think of ‘Health and Safety Receiver-ships’ we envision ‘Slum Lords’, ‘Gangs’, ‘Meth Labs’ and ‘Criminal Activities’. What I witnessed at this talk, and realized, is the outreach and compassion our receivers show to those ‘Health and Safety Receiverships’ that address those individuals with mental illness and also to those who hoard’. The kindness and care that is demonstrated by our Receivers is a wonderful testament to our industry. Thanks to all who do this work.
Marc Brooks
Escrow of the West, Beverly Hills

Using Rule 66 to Unwind White Collar Crime: Federal Equity Receiverships

Kathy Bazoian Phelps moderated a panel of seasoned federal equity receivers consisting of Stephen Donell, Michael Kasolas, and Thomas Seaman. War stories told by the receivers in the trenches were a memorable way to talk about federal receivership cases – takeover, asset sales, litigation, claims administration, and the enduring reminder that you can’t always (ever?) predict what is about to happen in federal white collar crime cases.

Health & Safety and the California Housing Crisis

Panelists Kevin Singer and Gerard Keena gave actual case reality checks to moderator Blake Alsbrook when theoretical practice questions collided with the real world of crumbling buildings, homeless breaking into vacant buildings, crime, tenants who won’t move out, and what happens when the plumbing doesn’t work for months. The receiver is dealing with business and real property issues and the cases often involve people with addiction, poor health and mental illnesses. Cities and counties are feeling community pressure to solve blight, fix the homeless problem and provide low cost housing, and a health and safety receivership may be a good tool to get results.

More Time to Connect

At the close the Symposium, the LA/OC Young Professionals Council hosted a microbrew and boutique winery tasting on the patio. Symposium participants and the local young accounting and legal professionals were invited to join the reception.

FRES, Fiduciary Real Estate Services, hosted a Taco, Margaritas & Mariachis reception at their new offices located nearby. Ruben Martinez and his family’s warm hospitality was a wonderful way to end the day. Ruben and Teresa are experienced receivers and musical magicians - with a mariachi trio that was very accomplished and easy to listen to as the conversations continued!

Congratulations to the 2020 officers:
Chair: Kevin Singer, Receivership Specialists, Los Angeles;
Chair-Elect: Gerard Keena II, Bay Area Receivership Group, Berkeley;
Treasurer: Dominic LoBuglio, Dominic LoBuglio CPA, Inc., Pasadena;
Secretary: Richard Ormond, Buchalter, Los Angeles;
Projects Director: Nich Wilson, Douglas Wilson Companies, San Diego

A Final Round of Applause to the Entire Loyola VIII Committee
Richard Ormond, Buchalter, Los Angeles
Mia Blackler, Lubin Olson & Niewiadonski LLP, San Francisco
Dominic LoBuglio, Dominic LoBuglio CPA, Inc., Pasadena
Michael W. Davis, Brutzkus Gubner Rozansky Seror Weber LLP, Los Angeles
Michael Muse-Fisher, Buchalter, Sacramento
Joel Weinberg, Insolvency Services Group, Los Angeles
Ryan Baker, Douglas Wilson Companies, Irvine
Kevin Singer, Receivership Specialists, Los Angeles
Nicholas Wilson, Douglas Wilson Companies, San Diego
Deborah Kincade, JBS & Associates, Laguna Beach

Special Thanks to the Exhbitors

*Jeanne B. Sleeper is the CEO of JBS & Associates, an association management company, and the administrator of the California Receivers Forum
since its founding in 1994.