Claims Process

Court Grants the Receiver’s Amended Motion to Establish and Approve (i) Procedure to Administer and Determine Claims; (ii) Proof of Claim Form; and (iii) Claims Bar Date and Notice Procedures

On August 20, 2020, the Receiver filed an Amended Motion to Establish and Approve (i) Procedure to Administer and Determine Claims; (ii) Proof of Claim Form; and (iii) Claims Bar Date and Notice Procedures (the “Motion”). A copy of the Motion can be found here. The Court entered an order granting the Motion on November 5, 2020. A copy of the Order can be found here. By granting the Receiver’s Motion, the Court has approved a procedure for each person or entity who thinks that he, she, or it may have a claim against any Receivership Entity  arising from the fraudulent investment scheme set forth in the Complaint filed by the Securities and Exchange Commission to submit a claim to the Receivership assets. If you believe you may have a claim arising out of or in any way related to the acts, conduct, or activities of the Receivership Entities, you MUST submit an original, written Proof of Claim Form as set forth in the Claim Process Instructions and Proof of Claim Form. A copy of a sample Proof of Claim Form is here.  The Court also established a Claims Bar Date requiring that any Proof of Claim Form must be received by the Receiver on or before February 15, 2021 in order to be considered timely.  A notice of the Claim Bar Date which was published in various news publications is here.

On December 28, 2020, the Receiver filed his Notice of (i) February 15, 2021 Claim Bar Date, and (ii) Publication of Claim Bar Date.  You can download that Notice here.

FOR INVESTORS, THIS IS THE PROCEDURE BY WHICH YOU MAY SEEK TO RECOVER FOR YOUR LOSSES FROM THE RECEIVERSHIP.

On November 17, 2020, the Receiver mailed each known investor, other known potential creditors, and certain other individuals a letter advising of this procedure, a Proof of Claim Form, and the Claims Process Instructions. A sample copy of this Initial Letter is available here.  If you did not receive a letter from the Receiver and you believe that you should have received one, please contact Rebecca Wilt at (813) 387-0277 or rebecca.wilt@quarles.com. Alternatively, a copy of the Proof of Claim Form can be found here and a copy of the Claims Process Instructions can be found here.

THE CLAIMS BAR DATE IS FEBRUARY 15, 2021. ANY PERSON OR ENTITY WHO FAILS TO SUBMIT A PROOF OF CLAIM TO THE RECEIVER ON OR BEFORE THE CLAIMS BAR DATE (FEBRUARY 15, 2021) SHALL BE FOREVER BARRED AND PRECLUDED FROM ASSERTING A CLAIM AGAINST THE RECEIVERSHIP OR RECEIVERSHIP ENTITIES.