United Western Bancorp Inc (fka UWBKQ)

[imawswami]

'Joint Client With Privilege' UWBKQ,USB & FCNCA??

Title and below is all conjecture/opinion on possible legal structure between UWBKQ-USB-FCNCA tossed around by myself and others. None of us are lawyers so please bear that in mind when reading the post....

But ask yourself:

"WHAT ARE THE ODDS---WHAT ARE THE ODDS?"

Chronology of events:

April 2017
Harvey Sender (Attorney for both UWBKQ-USB per Plainsite) closes his private practice Sender & Wasserman P.C. 1981 (36 years) and with his daughter Katharine secures a partnership ( Harvey age: 67) at Lindquist & Vennum LLP. (Representing FCNCA creditor in UWBKQ BK7)

September 2017 (5 months later)
Lindquist & Vennum LLP. to merge with Ballard Spahr LLP. (legal firm representing U.S. Trustee...component of U.S. Justice Department

https://www.startribune.com/minneapolis-law-firm-lindquist-amp-vennum-merges-with-ballard-spahr/442774533/

January 2018 (4 months later) Lindquist & Vennum LLP./ Ballard Spahr complete merger. Lindquist ceases to exist.

2018
Harvey leaves as partner with Ballard Spahr LLP., returning to private practice -now Sender & Smiley LLC. Copywrite 2017

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Joint Client Privilege (are we seeing this in Harvey's gyrations above?)

"Applying Joint Client Privilege to Related Corporate Entities"

https://www.accdocket.com/applying-joint-client-privilege-related-corporate-entities#:~:text=What%20is%20the%20joint%20client,shared%20with%20a%20third%20party.

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Swami here................so what could we be looking at? In a nutshell,
Joint Client with Privilege is a way of preventing prying eyes peeking at things related corporate entities would rather not share openly in court...say through discovery.

Suspect this is why it is difficult for us to understand USB AS DEBTOR FOR UWBKQ and FCNCA NOLS purchaser from UWBKQ relationship. This bizarro arrangement might be by design to conflate the three into one, at least from an accounting standpoint:

"The joint client privilege, if properly applied, can protect against disclosure of communications between employees of affiliated companies and a centralized in-house legal team."

So, in a very short period of time, we have several legal firms (Harvey's handful of lawyers), 150 attorneys Lindquist & Vennum LLP, and Ballard Spahr 500 strong all merged into one. OH, and yeah, quite the coincidence- all three are repping clients facing off in UWBKQ Ch.7

Debtor UWBKQ/USB, Creditor FCNCA, and U.S. Justice Department (in the capacity of Trustee) as one point found themselves all on the same side of the legal table under the Ballard Spahr banner!! Incredible right.

One can not help but wonder what Harvey's payout was under such extraordinary conditions. Gosh, luckily he was able to swing his daughter in on such an alignment of the stars......

Good thing he did not waste any time returning to his true roots of private practice. Copywrite 2017 Sender & Smiley LLC. Merger had not even taken place yet and Harvey was already laying out his private practice! And with John Smiley, also of Lindquist Vennum... Man, its as if Sender just KNEW ahead of time, how things would unfold.....

This has been a long post, some am going to wrap it up with this:

If, and am saying IF, we as shareholders of UWBKQ are beneficiaries of a confidential agreement that would turn the BK golden, how BIG could the dollars be, IF the above was all premeditated in the creation of Joint Clients with Privilege scenario to control information exposure?

The breadth/depth of such a legal consolation makes a multi-preferred basket of unlisted securities to shareholders seem reasonable to me.

Again, this is all guesswork and should be taken as such. All in my opinion.

Happy Good Friday to All.

New, thanks again.