News & Research

Filter by category: View All | Blog | Hayman Research | News | Third Party

Fifth Court of Appeals: Megatel Homes III, LLC’s lawsuit against UDF entities to proceed

Posted June 4, 2020

A lawsuit containing factual allegations consistent with Hayman's research regarding the Shahan Prarie development will proceed against several UDF entities, the Fifth District Court of Appeals of Texas ruled on May 29, 2020.  Megatel Homes III, LLC sued United Development Funding, L.P., United Development Funding II, L.P., United Development Funding III, L.P., United Development Funding IV, and United Development Funding Income Fund V.  

“Megatel asserts that neither Shahan Prairie nor the Buffington Entities took any significant steps to develop the land made the subject of their contracts. Megatel further asserts the UDF Parties did not provide BHM, LAMP, or Scenic Loop with sufficient funds to perform their development obligations.”

Blog: UDF IV’s Stated Financial Position vs. Reality

Posted October 12, 2016

Hayman’s research raises questions concerning UDF IV’s latest stated financial position and disclosures.

Blog: Alpha Ranch

Posted October 5, 2016

Hayman’s research raises questions about Alpha Ranch, a UDF-funded residential development project, and examines the relevant debt versus equity considerations, which could create significant tax consequences.

Blog: The Northpointe Crossing Quandary

Posted September 9, 2016

Hayman’s latest research examines UDF’s problematic past (and present) in its case study of Northpointe Crossing, a residential real estate development in Anna, Texas.

Blog: The Precarious Preston Manor

Posted August 30, 2016

UDF’s Ponzi-like real estate scheme continues to unravel as it tries to create liquidity through the dissipation of collateral to repay various creditors or to satisfy other financial obligations.

Blog: Is UDF a Legitimate REIT?

Posted August 11, 2016

Hayman's latest research considers the restrictions placed on REITs, the tax consequences of income derived from “prohibited transactions” and case law that provides guidelines for determining the “debt versus equity” question.  

Load More