Coadum Advisors

Background

On this Web site, you can review the Judge’s Orders regarding the Examiner, read a Note from the Examiner, and read the Examiner's Report posted in the CMI Documents section here.

Note From Examiner

My name is Pat Huddleston. In December 2008, U.S. Bankruptcy Judge Robert E. Brizendine appointed me as the Examiner in the Cornerstone Ministries Inc. (“CMI”) Chapter 11 case.  Specifically, Judge Brizendine directed me to investigate the following:

1.  The sequence of events that led to the Debtor’s (i.e., Cornerstone Ministries) shift from making loans to churches and non-profit organizations to making loans to for-profit developers;

2.  Whether and to what extent the Debtor’s shift from making loans to churches and non-profit organizations to making loans to for-profit developers was motivated or otherwise characterized by self-dealing on the part of its officers, directors and/or other insiders; and

3.  Whether and to what extent purchasers of Debtor’s bonds may have causes of action against brokers and others related to sale of the bonds.

Many Thanks,

Pat Huddleston