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The transaction of questionable legality involves REVO, Wilma.

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Krysti   Sunday, 10/20/13 04:46:52 PM
Re: wilma6311 post# 87
Post # of 145 
The transaction of questionable legality involves REVO, Wilma.
The Rainco-GEG-Metwood transaction is not illegal. That transaction involved Metwood buying the debt of UBRG. And, as you say, Metwood is a 'third-party' buying UBRG debt. The deal could be presented as being an arm's length transaction.

By comparison, my scenario is that the Rainco-Greenwood-REVO transaction involved REVO buying its own debt when it bought Greenwood. If that scenario is correct then there is no third-party involved. And the deal is of questionable legality.

The parties involved in the REVO deal are all linked by their direct connection to Solomon Ali. He is a director of REVO; he remains connected to Rainco; and Greenwood is a Rainco spin-off.

The idea that Solomon Ali no longer directs the activities of Rainco is absurd, particularly when various SEC filings show that he and Nicole Singletary share the same residential address in North Carolina. Ms Singletary, you will recall, is reported as the key executive in Rainco, Greenwood and GEG.



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