9/22/08, I recieved tgis in my inbox today. So I advise everyone not to incur any expenses regarding same as the 10% of bill offered to me will not cover my expenses. PP

RE: Title Stream

Dear Abstractors

Metro National Financial (Metro) is considering the possibility of acquiring Title Stream with the hope of preserving the relationships with the existing clients and vendors.
 

You are well aware that Title Stream is experiencing financial difficulties and is facing the real possibility of filing bankruptcy. If bankruptcy were to be filed, it would likely be a no asset bankruptcy because the saleable assets are minimal.

While as a company, Metro believes in paying its bills and managing its operations in a reasonable and responsible manor. It is distasteful to Metro to consider asking anyone to accept anything less than the amount owed to them. However, unless Metro is able to reach an agreement with all of the creditors, it is very likely there will be nothing available to you for your outstanding invoices.

Metro is asking you to consider accepting ten percent (10%) of your outstanding balance as satisfaction in full for the amount due you. The current owners and management would cease to have any role in equity or management. If all creditors agree you will be paid within sixty-days (60) and there will be an ongoing relationship with Metro.
 

Metro National Title (www.metrotitle.com) is a 20 year old privately held title insurance agency based in Salt Lake City with current operations in Arizona, Colorado, Nevada, and Ohio. LandAmerica Financial Group, Inc., one of the nations largest and most respected title underwriters, supports the Title Stream acquisition.
 

Time is of the essence, if such a settlement, although distasteful, would be something that you and your company would be willing to accept and you would be willing to move forward on new business we need to hear from you by 5 p.m. pacific time on Wednesday September 24, 2008. Please respond to this email stating you will accept or not accept ten percent (10%) of the balance due to your company as satisfaction of the entire debt. Also include the amount you have as an outstanding payable from Title Stream. Your acceptance of this offer will not obligate Metro unless there is acceptance by all the creditors and regulatory approval.
 

    Again, unless we can obtain universal acceptance of this proposal as a full settlement of the outstanding obligation, Metro will not be able to participate in the acquisition of Title Stream.

We thank you in advance for your consideration of this inquiry.Peter Stevens