Despite Economic Uncertainty, Parts of the Commercial Real Estate Market Have Begun to Self-Correct

Clearwater, FL (Vocus) October 14, 2010

Guardian Solutions, a commercial loan restructuring firm specializing in various segments within the commercial real estate market, has seen a significant increase in the number hotel owners facing imminent foreclosure that are able to save their properties.

This year the number of hotels being sold, as a percentage of investment volume within the CRE property sector has increased from below 8% at the peak of the market to over 10%. But more than one-third of hotel transactions that closed through June 30 involved distress conditions, such as foreclosures, auctions or short sales.

This latest trend is an indication to us that commercial real estate may be finally on the right path to mend itself. Lenders and special servicers that we work with closely seem more willing to restructure, workout or negotiate discounted buyouts than they did in the past; specifically, there was $ 1.29 billion in distressed properties that sold off in the first half of 2010, compared with $ 1.04 billion in first-half 2009, said Ira J. Friedman COO for Guardian Solutions.

Data from Smith Travel Research released recently shows U.S. hotel occupancy rose more than two percentage points in the first five months of this year from the same period last year, to 54.7%. However, there is no doubt that many commercial properties such as hotels remain very deeply in debt and will require a restructuring of some kind if they are to make it.

One hotel owner who was able to save his distressed property with the aid of a commercial loan restructuring firm was Tom LaSalle, owner of LaSalle Management Limited II, who had this to say, From the time they accepted my case until the closing resolution, I found Guardian Solutions to be a very professional, goal-oriented firm that demonstrated a high level of expertise in the financial field throughout our presentations and negotiations. Two months prior to Guardian Solutions closing resolution on my case I could not have anticipated such a positive result.

But the picture is not all wine and roses for the industry; the situation remains difficult for commercial property owners with hotel loans that are coming due in 2012, many of which were originated when hotel values (commercial real estate values) were much higher than today.

The basis to any successful workout negotiation is ensuring that it is a win-win for both the property owner and the lenderthe difficulty arises in creating a clear view of what is at stake for both parties as well as how they both can make the best of a tough situation with the most favorable terms, added Friedman.

According to Foresight Analytics, of the $ 5.1 billion in securitized mortgages that are coming due in 2012, a whopping 64.5% are currently underwater. Those properties not generating enough revenue to cover their interest payments represent 42.2% of that balance due in 2012.

This pending debt foreshadows more turbulent times before any real recovery for the hotel sector takes hold; hotel owners would be well advised to take immediate steps to save their properties through a comprehensive loan restructuring plan sooner rather than later.

While we expect the hotel industry to eventually come back strong, I would advise any hotel owner facing an untenable balloon payment, or already in default to act aggressively now to keep his property by engaging a reputable commercial loan restructuring firm to represent the property, added Jeramie P. Concklin, CEO for Guardian Solutions.

About Guardian Solutions

Guardian Solutions is the one of nations largest commercial loan restructuring companies and is committed to helping commercial property owners save their properties. The companys knowledgeable mitigators are experienced in a variety of disciplines to provide customized restructuring solutions. For more information, visit http://www.GuardianSolutions.org

Contact:

Jamie Sene

Senior Vice President, Marketing

Guardian Solutions

727-442-8833

jvs(at)guardiansolutions(dot)org

http://www.GuardianSolutions.org

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One Weak Sector of the Commercial Real Estate Market Has Begun to Turn Around, Despite U.S. Economic Sluggishness

Clearwater, FL (Vocus) October 18, 2010

This year the number of hotels being sold, as a percentage of investment volume within the CRE property sector has increased from below 8% at the peak of the market to over 10%. But more than one-third of hotel transactions that closed through the end of last summer involved distressed conditions, such as foreclosures, auctions or short sales. But the numbers alone can be misleading.

According to Ira J. Friedman, COO of Guardian Solutions, a commercial loan restructuring firm specializing in various segments within the commercial real estate market, they have seen a significant and steady increase in the number of hotel owners facing imminent foreclosure that are able to save their properties.

This latest trend is an indication to us that commercial real estate may be finally on the right path to mend itself. Lenders and special servicers that we work with closely seem more willing to restructure, workout or negotiate discounted buyouts than they did in the past; specifically, there was $ 1.29 billion in distressed properties that sold off in the first half of 2010, compared with $ 1.04 billion in first-half 2009, said Friedman.

Data from Smith Travel Research released recently shows U.S. hotel occupancy rose more than two percentage points in the first five months of this year from the same period last year, to 54.7%. However, there is no doubt that many commercial properties such as hotels remain very deeply in debt and will require a restructuring of some kind if they are to make it.

One hotel owner who was able to save his distressed property with the aid of a commercial loan restructuring firm was Tom LaSalle, owner of LaSalle Management Limited II, who had this to say, From the time they accepted my case until the closing resolution, I found Guardian Solutions to be a very professional, goal-oriented firm that demonstrated a high level of expertise in the financial field throughout our presentations and negotiations. Two months prior to Guardian Solutions closing resolution on my case I could not have anticipated such a positive result.

But the picture is not all wine and roses for the industry; the situation remains difficult for commercial property owners with hotel loans that are coming due in 2012, many of which were originated when hotel values (commercial real estate values) were much higher than today.

The basis to any successful workout negotiation is ensuring that it is a win-win for both the property owner and the lenderthe difficulty arises in creating a clear view of what is at stake for both parties as well as how they both can make the best of a tough situation with the most favorable terms, added Friedman.

According to Foresight Analytics, of the $ 5.1 billion in securitized mortgages that are coming due in 2012, a whopping 64.5% are currently underwater. Those properties not generating enough revenue to cover their interest payments represent 42.2% of that balance due in 2012.

This pending debt foreshadows more turbulent times before any real recovery for the hotel sector takes hold; hotel owners would be well advised to take immediate steps to save their properties through a comprehensive loan restructuring plan sooner rather than later.

While we expect the hotel industry to eventually come back strong, I would advise any hotel owner facing an untenable balloon payment, or already in default to act aggressively now to keep his property by engaging a reputable commercial loan restructuring firm to represent the property, added Jeramie P. Concklin, CEO for Guardian Solutions.

About Guardian Solutions

Guardian Solutions is the one of nations largest commercial loan restructuring companies and is committed to helping commercial property owners save their properties. The companys knowledgeable mitigators are experienced in a variety of disciplines to provide customized restructuring solutions. For more information, visit http://www.GuardianSolutions.org

Contact:

Jamie Sene

Senior Vice President, Marketing

Guardian Solutions

727-442-8833

jvs(at)guardiansolutions(dot)org

http://www.GuardianSolutions.org

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Holtmeyer & Monson Helps Community Banks Boost Profits with SBA Lending


Memphis, TN (PRWEB) November 9, 2010

SBA lending services provider Holtmeyer & Monson announced today that it is enabling more than 400 community banks to reap the benefits of government-based small business lending. By taking advantage of the companys highly specialized proficiency and out-of-house services, banks are able to offer small businesses the critical capital they need while generating substantial non-fee income for their institutions.

In the current economic environment, lenders are not only trying to find ways to provide commercial customers with access to credit, but also striving to enhance bank profitability. Small Business Association (SBA) loan programs are a great means to achieve both goals. Furthermore, the recently signed Small Business Jobs & Credit Act (HR 5297) which extends SBA lending stimulus provisions through December 31, 2010, has made the waters more perfect than everand Holtmeyer & Monson is helping banks to jump right in. The company enables institutions to create an instant profit center while alleviating the associated burdens by serving as their SBA loan department.

We had the honor of being recognized as Tennessee SBA Community Bank of the Year, Top Dollar for 2009 and attribute that success in part to our partnership with Holtmeyer & Monson, said Brad Hailey, president of Brighton Bank. The company provides the comprehensive services we need to help our customers and participate in SBA lendingand were clearly profiting. We added 33% of our normal earnings to our bottom line last year. Plus, Holtmeyer & Monson makes it painless because they really understand the small business customer and they do all of the hard work involved with each loan.

The company offers the full spectrum of SBA lending services from training staff and loan application and closing services, to securitization and sale to the secondary market and portfolio servicing. With Holtmeyer & Monsons out-of-house services, banks are freed from grappling with the complexities and the inherent bureaucracy associated with SBA lending and dont need to add any staff. The companys unique fee structure enables institutions to generate a great deal of income without incurring net costs because fees are capitalized right into a borrowers loan.

Were closing about 20 to 24 loans a year with Holtmeyer & Monson and we were recently named the third largest lender of SBA loans in Montana, said John King, president, Three Rivers Bank. Not too bad for an independent community bank with only two branches competing against Wells Fargo and other statewide institutions! The fact is that we probably wouldnt even be in the SBA loan business right now if it were not for Holtmeyer & Monson. They expertly guide our lenders with a proven system that helps them understand the SBA and the way it wants things done to get credits approved.

The only SBA lending services provider endorsed by the Independent Community Bankers of America (ICBA), Holtmeyer & Monson has a thorough understanding of SBA lending policies, what the SBA is looking for and how to make the process as straightforward as possible for a bank. Highly regarded by the SBA personnel, clients and borrowers, Holtmeyer & Monson is frequently sought as an authority on SBA lending.

SBA loans provide banks the ability to assist commercial borrowers who are, in some cases, desperately in need of capitaland they bring hefty profits for the institution. Once a loan is closed, the guaranteed portion can be quickly and easily sold to investors, typically earning the lender a 7-10% premium, said Arne Monson, president and co-founder, Holtmeyer & Monson. We are uniquely qualified to guide banks through the nuances of SBA lending and help them capture this lucrative opportunity. Our business model mitigates their risk while removing virtually all of the expense associated with establishing and operating an SBA loan department.

In an effort to further guide banks in capturing beneficial SBA lending opportunities, the company recently launched a bi-monthly newsletter, SBA Lending Matters. It is solely focused on providing tips and tools that help institutions optimize their small business lending strategies and stay abreast of the latest legislative developments and deadlines. To read and/or subscribe to the newsletter, visit http://www.holtandmon.com/newsletter/.

About Holtmeyer & Monson

Holtmeyer & Monson provides banks with comprehensive, out-of-house services and the high level of expertise required for SBA lending. The Company helps community banks offer small businesses access to capital while benefitting from a highly lucrative source of fee income. Holtmeyer & Monson covers every stage of the process from loan packaging and closing, to securitization and sale, through portfolio servicing. Based on its full-service capabilities and credibility, banks can be confident that their SBA lending credits will be handled expertly, efficiently and with the highest levels of safety and soundness. For more information, visit http://www.holtandmon.com.

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Securities Law Firm of Tramont Guerra Nunez, PA Comments on Recent Developments for Ambac Financial Group

Coral Gables, FL (Vocus) November 10, 2010

The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) comments on the Ambac Financial Group announcement of the Chapter 11 bankruptcy filing on November 9, 2010. Ambac Financial Group reported in its SEC Form 8-K filing on November 1, 2010, that it was unable to raise additional capital as an alternative to seeking bankruptcy protection.” The SEC filing further disclosed that the Company had total indebtedness on June 30, 2010 of $ 1,622 million and that a filing for bankruptcy protection would accelerate the maturity of all of the Companys indebtedness. Ambac Financial Groups primary subsidiary, Ambac Assurance Corp, issued insurance policies on bond offerings which guaranteed bondholders from loss from any default in interest and principal payments. The bond guarantees were initially issued for bonds in the municipal bond market. The growth in the securitization of the mortgage backed securities led Ambac Financial Group through its subsidiaries to issue guarantees on complex mortgage-related investment vehicles, including collateralized debt obligations (CDOs). During the housing market decline, mortgage defaults resulted in claims against the bond insurer. According to the SEC filings, a significant issue in the bankruptcy proceedings will be the Companys estimated $ 7.0 billion net operating loss (NOL) tax carry forward which represents a potential asset for any reorganization plan. TGN urges investors in Ambac Financial Group stock should consider what recourse is available to recover their investment losses in stock held in full-service brokerage accounts. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industrys conduct and safeguard the investing public. For investors who accumulated shares in Ambac Financial Group, the recent developments represent a significant loss in income and investment.

According to TGN, many investors in Ambac Financial Group stock represented a long term holding acquired through investment, inheritance or as an employee of the company. Full-service brokerage firms are obligated to give, and investors are entitled to rely upon, brokerage firms for competent, suitable investment advice concerning risk management strategies for concentrated stock positions. Brokerage firms are required to supervise the activities in brokerage accounts, losses may be attributed to the failure to adequately supervise the stockbroker and the brokerage account Recommendations of unsuitable investments and/or maintaining unprotected concentrated stock positions are both causes of action that may be available to investors against their full-service brokerage firm in an individual securities arbitration claim filed with FINRA.

The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell AV rated securities law firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses that exceed $ 250,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Ben Fernandez, Esquire.

Destination URL http://www.stockmarketlosslawyer.com/press-releases/ambac-financial-group-bankruptcy/

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New Principal Reduction Program to be Introduced

Clearwater, FL (PRWEB) November 11, 2010

Almost a year and a half of thorough research and development have been put into the project by Earth Financial.There is no doubt about it, principal reduction is the solution to the housing crisis says R. Jack Wilson of Earth Financial. Almost every credible economist in the country is advocating principal reduction as the long term fix. The key is sustainability in our clients financial lives

Principal reduction is when a lender agrees to significantly reduce a homeowners mortgage balance. Earth Financials principal reduction program takes advantage of the current legal climate to essentially fight fire with fire and use the law to force banks to comply with Federal law.

Recently foreclosure freezes from major lenders and the subsequent investigations have revealed the existence of paperwork problems through an industry service called the Mortgage Electronic Registration Systems (MERS). These problems with MERS have resulted in the discovery that clear line of title on over 62 million homes across America has been legally broken involving properties between 2003 and 2008. Without clear line of title, the servicers and banks lack the proper legal backing to collect on the mortgages that they service. In addition, major lenders such as Bank of America, Wells Fargo, Chase, and CitiBank have all been involved in potentially fraudulent activity, ranging from destroying millions of homeowners original documents to the illegal Robo-Signing scandals in which unqualified personal flagrantly broke the law by illegally signing millions of documents.

Our principal reduction program presents a new way of thinking, a new type of solution that is predicated on the law. The banks are not above the law. We intend on helping as many struggling homeowners as we possibly can.

Another aspect of Earth Financial Services principal reduction program involves the security side of the millions of underwater mortgages across the country. New investigations have revealed rampant fraud in the creation of trillions of dollars worth of mortgage backed securities (MBS). MBS are the bonds that are formed from pools of mortgages that are securitized and sold in the private derivative market. When the banks were creating these ticking mortgage time-bombs, they broke every tax law, REMIC law, New York trust laws, every law you can imagine; I mean, it is all flagrantly criminal

The result is that the banks and servicers have muddied the waters so badly they cant even tell who owns what anymore. By attacking the banks negligence in these types of matters and forcing them to prove they possess the paperwork that is required of them by law, Earth Financials principal reduction program uses a tough approach to force the banks to comply with a principal reduction, otherwise they face stiff penalties. The program is designed in a multi-stepped fashion and is easily the most affordable type program in the market.

The banks really have no choice Wilson said There is no doubt they have violated not only the law, but the trust of the public. Its time to stand up to these lenders and servicers and make them accountable for the mess they made. Earth Financials principal reduction program will do just that.

Powerful words; an even more powerful program.

For more information call 888-525-4449 or email info(at)earthfinancialservices(dot)com or go to http://www.earthfinancialservices.com

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Homeowners Lawsuit Against Major Banks Progresses Slowly, Alleges Predatory Lending and Unfair and Deceptive Trade Practices by Wells Fargo and Others

Miami, FL (PRWEB) December 7, 2010

Coral Gables, Fla. homeowner Pelayo Duran claims in his lawsuit that what he wanted was the attractive loan he saw advertised in the Miami Herald to refinance a home for his growing family. Instead, he ended up in the middle of an endless and costly legal fight with the nations largest banks accusing them of illegal predatory lending and unfair and deceptive trade practices.

At the same time, Durans attorneys claim his mortgage has been sold in the secondary market to investors who paid a profit to Wells Fargo Bank NA who is now acting as a trust administrator to the loan pool that allegedly owns Durans loan, a loan lawyers say was designed to fail.

“Someone has to stand up for the rights of the defenseless and the oppressed, said Duran. People have to know the real story of how these banks were able to take the American dream and destroy it. We believe they reaped billions of dollars in profits by lying, falsifying documents, appraisals, applications engaging in predatory advertising and lending practices. They hide behind all the companies that are involved and the large law firms that represent them. They create layer upon layer of red tape to avoid being held accountable.”

Duran’s attorney, Adis Riveron, Esq., filed a lawsuit in Miami-Dade Circuit Court (CASE No. 09-CV-20411-CIV) naming defendants Wells Fargo, Countrywide (bought out by Bank of America), Greenpoint Mortgage Funding and two individuals Lee Rosenthal (the appraiser), and Cindy Sierra (the mortgage broker). The lawsuit has charged them with a total of 13 counts including negligence, fraud, unfair and deceptive trade practices, and breach of fiduciary duty. Duran seeks a jury trial to determine punitive damages. You can download a copy the lawsuit at https://files.me.com/cjonespr/cv3pc7

Even though my home is not in foreclosure and I continue to make regular, on-time payments, my case is similar to the plight of millions of homeowners across the country, said Duran, a prominent South Florida attorney. Fortunately, I have been able to gather the financial resources, legal determination and stamina to take on the giant lenders because I refuse to give in when what they are doing is clearly unconscionable and dishonest.

The case was immediately removed by the defendants to federal court in 2009, but has since been remanded back to the state court earlier this year after a tough and expensive legal battle. Duran also had to pay a $ 10,000 judgment following an order compelling part of the case against Wells Fargo to arbitration.

According to Duran’s attorneys, they have filed a motion to stay the proceeding because the arbitrator from the American Arbitration Association might have engaged in inappropriate conduct. Attorneys said they would now file a motion to force the arbitrator to recuse himself.

It is inevitable the Mr. Duran will have to begin the entire arbitration process from the beginning, said Riveron. This conduct on the part of the arbitrator calls in to question the entire integrity of the expensive arbitration process that Wells Fargo includes in its mortgage agreements. The only reason they don’t agree to have the lawsuit in state court where it belongs is to make the process as dragged out and expensive as possible. They will stop at nothing to delay and obfuscate justice. I believe in my lawsuit and I will not stop until I have exhausted every avenue, said Duran.

The lawsuit claims that this legal saga began when Duran tried to refinance his primary residence in 2005. He had purchased the home in October 2004, and had he made an initial down payment of $ 100,000. Shortly after the purchase, Duran needed to access some of the money he had put down to cover imminent personal and business issues.

According to the lawsuit, Duran saw an ad in the Miami Herald published by Wells Fargo Home Mortgage. The ad was offering an Adjustable Rate Mortgage (ARM) at a rate of 5.75%, with 10 years interest only payments, a fixed interest rate for 10 years, and a 5.1 annual percentage rate. Durans plan was to buy down the loan rate at closing 1 to 2 point and pay off the home in about 10 to 15 years.

The lawsuit states Duran contacted Wells Fargo because he had a longtime business relationship with the bank and the terms in the ad were the most favorable. Attorneys claims when Duran called Cindy Sierra who he thought was a bank representative, she first told him that the advertised rates were not available. She then told him that she would get him an even a better deal. Duran believes that he, just like millions of other Americans, was baited into applying for an attractive loan that never existed, only to be switched to a high-risk subprime loan.

According to the lawsuit, Sierra told Duran to leave the income section on the application blank until such time as she could conduct a pencil search, a prohibited but common practice used by mortgage brokers and lenders in order to maximize the loan amount in which a mortgage broker would shop for an appraiser to support the highest value that the lender could hit in originating the loan. Initially, Sierra informed Duran that his home was worth $ 1.5 Million. The appraiser, Lee Rosenthal who worked for and was hired by Rels Valuation, (also Wells Fargo company), ultimately determined and represented to Duran that his home, which was purchased for $ 984,000 four months earlier, was now worth $ 1.2 million.

Unbeknownst to me, she created my loan by adjusting the value of my home to my debt-to-income ratio, said Duran. They never considered my ability to repay the loan. All they cared about was the appraised value and my good credit score. What I also discovered was that a Wells Fargo representative was actually originating a loan for Greenpoint Mortgage Funding and that immediately upon the closing of my loan, Greenpoint would turn around and sell my loan right back to Wells Fargo as trust administrator for a pool of loan. In addition, Fred Schlang, SRA, an appraisal expert, later alleges that the banks appraisal was inappropriately inflated.”

According to the lawsuit, after haggling over the terms for several weeks, Duran and his wife were disheartened at the closing when the final Greenpoint loan agreement reflected a financed amount of $ 920,000 with an APR of 5.622% fixed during a five year period, with rate adjustments up to twice per year, a pre-payment penalty, and a rate cap of 10.5%, (not the 5% he had been previously offered in writing) and they would not be able to buy down the rate 1 to 2 percentage points at closing, as he had been previously promised.

None of these terms were disclosed throughout the entire process, said Duran. She attempted to fix the problem at the closing of the mortgage, but they lied to my wife and me, once again.

Duran and Riveron claim in the lawsuit that this case stems from the common practice of securitizing loans and selling them in the secondary market for huge profits. These mortgages were underwritten primarily on the basis of an inflated appraisal and have basically no underwriting standard other than securing a signature on loan documents.

Greenpoint and Wells Fargos profits are determined by the amount of and quantity of loans they successfully closed, not the quality of those loans, said Duran. The lender has an incentive to pressure appraisers and brokers to reach values that will allow the loan to close without regard to whether the appraisal reflects the homes actual value. Likewise, the independent broker is not tied to one lender, but has relationships with multiple lenders.

Duran said since he began his investigation and even before filing of the lawsuit, his home mortgage was transferred from Greenpoint to Countrywide and now to Bank of America. Duran and Riveron said for some unknown reason, Bank of America and Greenpoint have been attempting force place insurance on h

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Brookstone Law, PC, Bank Lending Practice Investigations Focus on Recent Bank of America Revelations


Newport Beach, CA (PRWEB) December 13, 2010

Brookstone Law, PC, is expanding its civil litigation department and is involved in investigations of the cases throughout the nation where actions against consumers have exposed banks unlawful lending practices.

Among those investigations is support for the current high-profile foreclosure case in New Jersey in which a Bank of America spokesperson revealed the Banks unlawful administration of loan documents with subsidiary Countrywide Home Loans. The revelation potentially brings into question the ownership of millions of properties that could lead to Bank of America being liable for billions of dollars in inherited bad loans.

In testimony before the House Financial Services Committees hearings November 17 on Problems in Mortgage Servicing from Modification to Foreclosure, Georgetown University Law Center Professor Adam Levitin described the potentially devastating implications of the case by saying, If those legal issues are resolved differently, then there would be a failure of the transfer of mortgages into securitization trusts, which would cloud title to nearly every property in the United States and would create contract recession/putback liabilities in the trillions of dollars, greatly exceeding the capital of the USs major financial institutions.

The bungled defense by Bank of America in this case is another example of a trend of rulings against Banks based on a consistent lack of legal documentation in mortgage foreclosures, said Vito Torchia, Jr., managing attorney of Brookstone Law. This was a case where the witness told the truth and we all got a look behind the curtain. Unlawful documentation practices are only one of the many obstacles against consumers and it is important that these practices are coming to light. The fact that the revelation was by the Banks spokesperson gives it significant credibility, regardless of the Banks subsequent statements.

The case is In the Matter of John T. Kemp, Kemp v. Countrywide Home Loans Inc., 08-02448, U.S. bankruptcy Court for the District of New Jersey (Camden).

About Brookstone Law, PC

Based in Los Angeles, with offices in Newport Beach, CA, and Ft. Lauderdale, FL, Brookstone Law, PC, is a law firm comprised of attorneys with experience and success in business, corporate and personal finance, employment, entertainment & media, art & museum, intellectual property and real estate law. The firm has a network of more than 40 affiliate attorneys nationwide and employs highly trained specialists, paralegals, paraprofessionals and administrative staff dedicated to serving our clients. For information, call (800) 946-8655 or visit http://www.brookstone-law.com.

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MEDIA GLOBO Celebrates 2010 Annual Shareholder Meeting

Denver, CO (PRWEB) December 15, 2010

The MEDIA GLOBO Corporation [OTC : MGLO] announced today that the Company formally held its 2010 Annual General Meeting of Shareholders on November 19, 2010; and all proposed business development initiatives received overwhelming proxy approval.

The announcement follows a MEDIA GLOBO trademark registration now pending before the U.S. Patent and Trademark Office, along with the Companys 2010 investment and development of The Education Channel and Walden High as key strategic initiatives within the online secondary education market. Further announcements are expected.

A quorum of 93,495,000 common shares of the total 93,527,227 issued and outstanding common shares in MGLO, as of the Companys June 30, 2010 fiscal year-end, tendered proxies in favor of (FOR) the proposed matters of business at the meeting; thus representing 99.96 % of all common stock voting shares as of the record date for the 2010 Annual General Meeting of Shareholders of The MEDIA GLOBO Corporation.

In addition to approving the Companys online education business, MGLO shareholders re-approved the 2007 business merger between MEDIA GLOBO and AXESS MEDIA, including its predecessor BIOLOGIX [OTCBB: BGIX], as well as a 2008 NASDAQ authorized reverse split of the MGLO publicly-traded common stock securities. For more visit the Company’s website at: http://www.mediaglobocorp.com .

Safe Harbor Statement

Included in this press announcement and referenced hereunder are The MEDIA GLOBO Corporation forward-looking statements and projections within the meaning of Section 27A of the Securites Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct, nor relied upon for investment purposes.

Copyright 2010

The MEDIA GLOBO Corporation

All Rights Reserved

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