HTML Document View

Full title: Joinder POPPY BANKS JOINDER TO CREDITOR TRI COUNTIES BANKS OBJECTION (LIMITED) TO JOINT MOTION FOR CONDITIONAL APPROVAL OF DISCLOSURE STATEMENT FOR JOINT CHAPTER 11 PLAN OF PROFESSIONAL FINANCIAL INVESTORS, INC. AND ITS AFFILIATED DEBTORS PROPOSED BY THE DEBTORS AND THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS (RE: related document(s)513 Motion to Approve Document, Motion to Set Hearing, Motion Miscellaneous Relief, 556 Disclosure Statement, 559 Objection). Filed by Creditor Poppy Bank, fka First Community Bank (Attachments: # 1 Certificate of Service) (Greenberg, Mitchell) (Entered: 04/14/2021)

Document posted on Apr 13, 2021 in the bankruptcy, 2 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

mwanser@abbeylaw.com 3 ABBEY, WEITZENBERG, WARREN & EMERY, P.C. 100 Stony Point Road, Suite 200 4 Santa Rosa, CA 95401 Secured Creditor Poppy Bank hereby joins in the Objection (Limited) to Joint Motion fo25 Conditional Approval of Disclosure Statement for Joint Chapter 11 Plan Of Professional 26 Financial Investors, Inc. And Its Affiliated Debtors Proposed by the Debtors and the Official 27 Committee of Unsecured Creditors (“the Objection”) filed as Docket #559 by creditor Tri 28 1 Counties Bank. 2 Poppy Bank is a first lien secured creditor with respect to loans, five in total, to 3 However, Poppy Bank is in agreement 8 with the statements in the Objection with regard to the lack of clarity and lack of transparency 9 with respect to the identification of the Non-Investor First-Priority Lenders, including Poppy 10

List of Tables

Document Contents

1 Mitchell B. Greenberg, Esq. (SBN 114878) mgreenberg@abbeylaw.com 2 Michael R. Wanser, Esq. (SBN 283822) mwanser@abbeylaw.com 3 ABBEY, WEITZENBERG, WARREN & EMERY, P.C. 100 Stony Point Road, Suite 200 4 Santa Rosa, CA 95401 Telephone: 707-542-5050 5 Facsimile: 707-542-2589 6 Attorneys for Secured Creditor POPPY BANK, fka FIRST COMMUNITY BANK 7 8 UNITED STATES BANKRUPTCY COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 (SAN FRANCISCO DIVISION ) 11 In re: Case No. 20-30604 12 PROFESSIONAL FINANCIAL (Jointly Administered with Case 9 INVESTORS, INC., a California corporation; No. 20-30579) 8 5 13 PROFESSIONAL INVESTORS SECURITY 2 2- FUND, INC., a California corporation, Chapter 11 4 5 14 ) 7 Debtors. 0 POPPY BANK’S JOINDER TO (7 15 CREDITOR TRI COUNTIES BANK’S e l imi 16 OBJECTION (LIMITED) TO JOINT cs MOTION FOR CONDITIONAL a 0 F 17 ASTPAPRTEOMVAELN TO FFO DRIS JCOLIONSTU CRHEA PTER 115 0 5 18 PLAN OF PROFESSIONAL FINANCIAL 2- 4 INVESTORS, INC. AND ITS 5 19 ) AFFILIATED DEBTORS PROPOSED B 7 0 7 THE DEBTORS AND THE OFFICIAL ( 20 : COMMITTEE OF UNSECURED e hon 21 CREDITORS p e Tel 22 Date: April 15, 2021 Time: 11:00 a.m. 23 Place: Telephonic/Video Appearances Only Judge: Honorable Hannah L. Blumenstiel 24 Secured Creditor Poppy Bank hereby joins in the Objection (Limited) to Joint Motion fo25 Conditional Approval of Disclosure Statement for Joint Chapter 11 Plan Of Professional 26 Financial Investors, Inc. And Its Affiliated Debtors Proposed by the Debtors and the Official 27 Committee of Unsecured Creditors (“the Objection”) filed as Docket #559 by creditor Tri 28

1

1 Counties Bank. 2 Poppy Bank is a first lien secured creditor with respect to loans, five in total, to 3 Professional Financial Investors, Inc., 29 LLC, 30 LLC, 35 LLC and 37 LLC. Poppy Bank is 4 referred to in the Disclosure Statement and Amended Plan as a Non-Investor First-Priority 5 Lender. The outstanding principal balance of these five loans is approximately $20,000,000. 6 Poppy Bank has participated in the meet and confer process identified in the Objection, 7 which discussions have been necessary and productive. However, Poppy Bank is in agreement 8 with the statements in the Objection with regard to the lack of clarity and lack of transparency 9 with respect to the identification of the Non-Investor First-Priority Lenders, including Poppy 10 Bank, in the Disclosure Statement, Exhibit D, as “Potential Targets” who are “subject to claims 11 to be filed after confirmation of the Joint Plan or Reorganization.” For the reasons set forth in 12 the Objection, more information and disclosure is needed on this specific topic, which is the 9 8 5 13 central reason Poppy has filed this joinder to the Objection. 2 - 2 4 5 14 ) 7 0 Dated: April 14, 2021 ABBEY, WEITZENBERG, WARREN & EMERY, P.C. 7 ( 15 e il m i 16 s c a F 17 By: /S/ MITCHELL B. GREENBERG 0 05 Mitchell B. Greenberg, Esq. 5 18 - Michael R. Wanser, Esq. 2 4 5 Attorneys for Secured Creditor 19 7) POPPY BANK, fka FIRST COMMUNITYBANK 0 7 : ( 20 e n ho 21 p e l e T 22 23 24 25 26 27 28

2