Claims Process

*** COURT GRANTS RECEIVER'S REQUEST FOR SEVENTH INTERIM DISTRIBUTION ***

On September 15, 2017 the Court granted the Receiver’s motion requesting approval to make a seventh interim distribution to investors with allowed claims. A copy of the Order is available here. The Receiver will promptly send distribution checks by U.S. Mail.



On August 31, 2017, the Receiver filed a motion seeking approval to make a seventh interim distribution to investors with allowed claims. The Receiver is seeking permission to make an interim distribution of approximately $5 million, and if the motion is granted, investors will receive a distribution that represents 3.81% of their allowed amounts. If the motion is granted, the Receiver will promptly send distribution checks by U.S. Mail. A copy of the Receiver’s motion is available here. This website will be updated once the Court enters an order on this motion. If you have any questions regarding this motion or the claims process, you may contact Jordan D. Maglich at (813) 347-5115 or jmaglich@wiandlaw.com.

Please visit the Court Documents and Receivership Reports tabs for additional information regarding previous interim distributions.




On March 2, 2012, the Court entered an Order granting the Receiver’s Motion to (1) Approve Determination and Priority of Claims, (2) Pool Receivership Assets and Liabilities, (3) Approve Plan of Distribution, and (4) Establish Objection Procedure (the “Claims Motion”) ( Motion – Part 1 | Motion – Part 2 | Exhibit A | Exhibit B, Exhibit B Amended | Exhibit C | Exhibit D | Exhibit E | Exhibit F | Exhibit G | Exhibit H | Exhibit I, Exhibit I Amended | Exhibit J | Exhibit K | Exhibit L ) except with respect to a claim submitted by Wells Fargo Bank, N.A. With respect to the claim submitted by Wells Fargo Bank, N.A., the Court reserved ruling on that claim and on several motions filed by Wells Fargo Bank, N.A. and its affiliate, TRSTE, Inc. A copy of the order can be found here.

By granting the Claims Motion, the Court adopted an objection procedure which allows each claimant to object to the determination of its claim and/or claim priority and to object to the plan of distribution. On March 8, 2012, the Receiver mailed each claimant a letter informing the claimant of this procedure to serve a written objection. Click here for a sample copy of this letter. If you did not receive a letter from the Receiver and you believe that you should have received one, please contact Mary Gura at (813) 347-5121. A copy of the objection procedure approved by the Court can be found here. Failure to properly and timely serve an objection to the Receiver’s claim determination, claim priority, or plan of distribution on or before March 28, 2012 will permanently waive and bar the claimant’s right to object to or contest the Receiver’s claim determination, claim priority, and plan of distribution, and the final claim amount will be set as the Allowed Amount determined by the Receiver and approved by the Court as set forth in the Exhibits attached to the Claims Motion. The Court also approved the Receiver’s plan of distribution which contemplates an interim distribution to be made on a pro rata basis and subject to certain exceptions discussed in the Claims Motion. At this time, the Receiver anticipates an interim distribution of $18 million to claimants with Class 1 allowed claims with a positive Allowed Amount. The timing and amount of any interim distribution will depend on the nature and number of objections received. If you have any questions regarding this order or the claims process, you may contact Jordan D. Maglich at (813) 347-5115 or jmaglich@wiandlaw.com




Receiver Files Motion to Approve Determination and Priority of Claims
On December 7, 2011, the Receiver filed a Motion to (1) Approve Determination and Priority of Claims, (2) Pool Receivership Assets and Liabilities, (3) Approve Plan of Distribution, and (4) Establish Objection Procedure (the “Motion”). A copy of this Motion is available below. Each entity or individual who filed a claim (“Claimant”) should have received a letter from the Receiver identifying his, her, or its claim number. The recommended determination of each claim is set forth in the Exhibits attached to the Motion and is addressed in the body of the Motion.




  • Letter from Receiver (mailed to known investors and possible creditors)
  • Proof of Claim Form
  • Notice of Deadline Requiring Filing of Proofs of Claim on or Before September 2, 2010
  • Order Granting Receiver’s Unopposed Motion to (1) Approve Procedure to Administer Claims and Proof of Claim Form, (2) Establish Deadline for Filing Proofs of Claim, and (3) Permit Notice by Mail and Publication
  • Receiver’s Unopposed Motion to (1) Approve Procedure to Administer Claims and Proof of Claim Form, (2) Establish Deadline for Filing Proofs of Claim, and (3) Permit Notice by Mail and Publication
  •  

     

    © 2017 Wiand Guerra King P.L. | All Rights Reserved | Website Hosting by K.Tek Systems Inc.