On March 30, 2023, the Court entered an Order approving the Receiver’s Motion for Resolution of Claims and Interests and Establishing Bar Dates for Claims (the “Resolution Procedures”). 

The notice of the Resolution Procedures (the “Notice”), which sets forth the Resolution Procedures in detail can be found by clicking here.  Please refer to the Notice for detailed information about the Resolution Procedures and for a definition of terms that are not defined herein. 

Investors:

The Receiver and her team are reviewing Investor Objections and other inquiries that were submitted by investors and communicating with the respective investor regarding their disputes.
On April 19, 2023, each Investor, respectively, was sent an individual statement (an “Investor Statement”). If an Investor agreed with the Information in its respective Investor Statement, they were not required to respond to the Investor Statement.

Any Investor who disagreed with the information contained in the Investor Statement was required to serve on the Receiver’s Claims Agent any disputes they may have to the accuracy of the information in the Investor Statement (an “Investor Objection”).  Investor Objections were required to be served by June 5, 2023.

Claimants:

The Receiver is reviewing and analyzing proofs of claim (each a “Proof of Claim”) submitted by parties asserting creditor claims against the Receivership Entities.

Claimants (i.e. creditors) were not sent an Investor Statement with respect to their Claims.  Claimants were required to serve a completed Proof of Claim Form on the Receiver’s Claims Agent.  The Receiver may disallow any Proof of Claim filed by an Investor on account of an Interest on grounds, among others and without limitation, that it is duplicative of an Investor Statement.  A copy of the Proof of Claim Form may be found by clicking here.

Proofs of Claim against the Receivership Entities were required to be served by the following dates: (i) May 30, 2023 was the deadline for Claimants other than Governmental Units to serve Proofs of Claim against the Receivership Entities; (ii) July 28, 2023 was the deadline for Governmental Units to serve Proofs of Claim against the Receivership Entities.  Claimants holding Claims that arose after the Receiver was appointed on June 14, 2022 were not required to serve Proofs of Claim on or before the Bar Dates and will not be subject to the Bar Dates.