NSAV Holding Inc (NSAV)

[Major Profits]

What are you talking about?? It was just an article I found about the Naomi Village Resort foreclosure issue that came up in a Google search.

The FIRST notice of ANY of this was from THIS:

Part C
Item 9

http://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=167072

Red Mansion LLC is a Pennsylvania Limited Liability Company, which is currently in legal proceedings with its bank/lender for approximately $1.7 million. The Company believes it has a valid counter claim against the bank/lender for overvaluing Naomi Village in a 2009 refinancing. The Company is currently in negotiations with its lender and believes it can settle this claim between $500,000 and $1,000,000.

Currently Red Mansion LLC is suing its insurer for $2,000,000 for non-payment of a claim caused by a devastating 2014 winter storm and for overvaluing Naomi Village Resort in a 2009 refinancing. The insurer has made previous offers of settlement, which the Company has refused.

You see, the FIRST lawsuit has now been settled by the RECENT summary judgement and RED MANSION LOST!! Plainly said WE LOST!!! And why? BECAUSE THIS IS ALL RELATED. You see,

http://www.manta.com/c/mrymhgg/red-mansion-llc

Jiang Zheng

THAT IS HIS WIFE!! Well, from my own DD. So correct me if I'm wrong.

But that article form 2015 clearly tell us the problem:

“I said, ‘As soon as I get the insurance, I’ll pay you,’” she recalled.

But the judge ruled in the summary judgment on January 28, 2017 that she can't do that!! Not paying the mortgage to the bank has NOTHING to do with the insurance claim!!

http://www.leagle.com/decision/In%20FDCO%2020170119D62/KEB%20HANA%20BANK%20USA,%20NATIONAL%20ASSOCIATION%20v.%20RED%20MANSION,%20LLC

In opposition, Red Mansion states that agents "may have acted improperly in inducing" Red Mansion into the loan transaction and that insurance payouts for a catastrophic event did not occur, preventing Red Mansion from making the mortgage payments. However, Red Mansion does not state even basic facts supporting a fraudulent inducement claim, let alone provide evidence to permit a jury finding of such. Further, the insurance dispute with a third party does not provide relief from summary judgment and the Court cannot deny summary judgment on a mortgage foreclosure for equitable reasons, as Red Mansion requests.quote]

And so some argue over the crap about the OS and the AS. LOL.

Imho, this is far, far, far, more important.

And, yes I DO hope it gets resolved. But if WE lose Naomi Village Resort? Whatever as there are probably of other places to run this business from.

Still waiting from a response from James though.

$NSAV