MG CONSULTING SERVICES, LLC

Consults on and evaluates RD prepayment damage claims

April 2010 to Present

            After numerous partnerships owning FmHA (USDA-RD) Section 515, financed apartment complexes, the loans for which were obligated prior to December 15, 1989, successfully filed lawsuits in the United States Court of Federal Claims alleging wrongful prohibitions against prepayment of the loans (“TAC-I”) and the attorneys who successfully prosecuted those cases began the process of filing claims for additional partnerships with FmHA financed projects (“TAC-II”), MG Consulting began reviewing all of the partnerships it was responsible for to determine if they were entitled to any damages.

             At the request of general partners and limited partners owning the interests in those partnerships, MG Consulting was engaged to evaluate potential damage claims for other USDA-RD financed apartment complexes.  MG Consulting evaluated over 600 partnerships and where able to establish viable damages for approximately 450 and assisted the developers in filing those claims in these TAC-II settlement proceedings.

            Fifty-five partnerships with respect to which MG Consulting evaluated and assisted in filing claims have been awarded settlements totaling $25.9 million in TAC-II settlement through December, 2014.

             MG Consulting continues to work with the attorneys in the preparation of claim filings and negotiations on additional partnership that it is assisting.

             To have any apartment complex financed by FmHA (now USDA-RD) prior to December 15, 1989, contact us at ____________@gmail.com.