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Business Profile

Oil Property Management

King Operating Corp

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Oil Property Management.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint type

  • Initial Complaint

    Date:09/01/2022

    Type:Customer Service Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have royalty interests through them. Have discovered that they dissolved the interests in July 2021. I was not informed and have received no paperwork documenting the closure and the loss of my investment despite many calls and emails to the CFO, who promises they will be sent in 2 days, but are never sent. This is becoming suspicious as I have not been informed as to who now owns the royalty interests. I am elderly and out of state and think they may consider it easy to not compensate me or at least give me documentation so I can take the capital loss. (I have been unable to file my 2021 tax return and the extension is only until October 15)

    Business Response

    Date: 11/10/2022

    Business Response /* (1000, 5, 2022/09/16) */ Contact Name and Title: Nathan M****, GC Contact Phone: 9724473550 Contact Email: nm****@kingoperating.com On behalf of King, including the CFO, I apologize for our delay in responding to you. There is no excuse for our tardiness or the way we ignored your simple requests for information. We should have done a better job. As our CFO discussed with you on the phone, your interests were sold via a sealed bid process in 2021; hence, why you stopped receiving monthly revenue checks. Prior to the sale, and then after the sale, you should have received the appropriate notices via mail. After the date of this complaint, we sent you all the information you requested. We have tried to reach out to you via phone and email since then to confirm that you have all the information you requested, but our calls have not been returned. We are here to assist as best we can. We do strive to be better than this and treat our investors as true partners. Again, I apologize and hope that the information we provided - albeit tardy - is what you need. Please contact us if you need anything else. Consumer Response /* (3000, 8, 2022/09/19) */ (The consumer indicated he/she DID NOT accept the response from the business.) Despite all the information given and the many figures, what is missing is how much, if anything, I was paid for my royalty holdings when they were sold. I need this to take a tax loss on my filing. Business Response /* (4000, 10, 2022/09/20) */ King has provided the consumer with all relevant information in order to for the consumer to calculate her tax loss. King cannot provide any additional information. King cannot provide tax advice to the consumer; however, King is happy to discuss this matter with consumer's CPA if needed. We hope this resolves the consumer's issue. Consumer Response /* (2000, 16, 2022/09/29) */ I have received an appropriate response from King Operating and believe I now have the material I need. They have supplied the numbers and records I need to file my 2021 federal tax return. I thank you for your prompt intercession, as it surely got things moving rapidly. Thank you again, *** W ******

King Operating Corp is NOT a BBB Accredited Business.

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