The court-appointed receiver who took possession of Joshua Allen’s assets including his ownership or partial ownership in many companies filed a settlement agreement worth $835,000 this month.
Jeffrey Tait Crow and Raiderland Holdings (owned by Chance Britt) sued Allen and others in 2023 after the Walk-On’s limited partnership (for the Amarillo location) became insolvent.
Last year John Grace, State District Judge in Lubbock, ruled Allen breached his duties to the other investors and ordered him to pay $575,000 plus attorney fees. (As of October, the attorney fees were $165,000.)
When the judgment went unpaid, the judge appointed Lubbock attorney Max Tarbox as the receiver of Allen’s property – except for things protected by law like Allen’s home.
Allen still involved in Ferrum Capital case
In a separate case, Allen and business partner, Michael Cox, are under federal indictment for securities fraud and other charges. Their affiliate, Brooklynn Chandler Willy, took a plea deal in March. The three were accused of using Lubbock-based Ferrum Capital to steal millions of dollars from hundreds of victims.
Allen and Cox have a trial date in federal court in San Antonio in September. Willy has not been sentenced yet. Click here to see our extensive Ferrum Capital coverage.
Several lawsuits naming Ferrum, Allen, Cox and Willy have been filed since late 2023. The effort to recover money for victims in those various cases has been ongoing.
Tarbox’s deal
Tarbox had the right to take possession and sell Allen’s ownership interests in various companies – which he’s doing. The companies in this settlement were:
Allneu Ranch, LLC
Allneu Storage LLC
Allneu Petroleum, LLC
Profit Ran Enterprises, Inc.
Workout Unit 64, LLC
1150 Holdings, LLC
Neufeld-Allen Farms, LLC
NFRV Park, LLC
ANE 34th & Chicago, LLC.
Tarbox negotiated a deal with David Neufeld Sr., David Neufeld Jr., Ramon Neufeld and William “Billy” Neufeld, who are involved with those companies, to pay the settlement. Most of the agreement is confidential (including the timing of the payment), but some of the highlights were listed recently in court records.
“The payment of $835,000 by the respondents to the receiver represents a buyout of Joshua Allen’s membership interests in the entities,” court records said.
Grace held a hearing on the settlement April 1. His written order to approve the deal was filed on April 6.
“Joshua Allen, and his wife Chanda Allen, appeared by and through their counsel, Nick Olguin,” court records said.
It’s not revealed in the court record if Allen’s wife had to sign off on the deal, but she was served with official court notice of the settlement on March 26.
LubbockLights.com did leave a message late Friday afternoon with Olguin, along with the attorney for the Neufelds, Keith Thompson. If they choose to comment, we will provide an update.
Related
Related posts