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|1.||Who is the Receiver and what are her responsibilities?|
The Court appointed Melanie L. Cyganowski, Esq., as Receiver to marshal the assets of the entities in Receivership and, ultimately, develop a plan for the disposition of these assets. In addition, the Receiver will file periodic reports with the Court regarding her activities. These reports will be posted to this website after they are filed with the Court.
|2.||Can I get my money back now?|
All funds must remain frozen until the Court authorizes otherwise.
|3.||Will I get all of my money back?|
It is too soon to determine how much investors will receive or when. The Receiver is working to protect the assets of the entities in Receivership, but there is no way to predict at this early date how much will be returned or when that will happen.
|4.||How can I stay informed of progress in this case?|
Periodic review of this website is the best way to stay abreast of developments in this Receivership. The website will be updated on a regular basis.
|5.||Do I need to file a claim form?|
Not at this time. At some point, the Receiver will recommend that the Court approve a process for investors to submit claims. Once the protocol is approved and established, the Receiver will provide notice of it to investors, including by posting the relevant details on this website.
|6.||What if I already filed a claim form with the prior receiver, Bart M. Schwartz?|
Previously filed claim forms do not need to be resubmitted to the Receiver.
|7.||If I have other questions, how can I get them answered?|
|8.||Is the Receiver my lawyer?|
The Receiver is not your lawyer, and she cannot provide you with legal advice. She is the Court’s agent, and she is charged with effectuating the provisions of the Court’s Orders. The Receiver will, however, be investigating potential claims and/or methods of recovery for the benefit of investors.
|9.||I have not received a K-1 for this tax year. When can I expect to receive one?|
The Receiver cannot at the present time provide a date certain for when K-1s will be issued. However, the Receiver has taken steps to retain Deloitte Tax LLP to provide professional tax services to the Receivership Entities. The Receiver will provide an update on the expected timing of issuing of K-1s as soon as possible.
|10.||Will any investors be paid ahead of others?|
The Receiver has not yet devised a plan by which funds will be distributed to investors. The Receiver, however, is mindful that any such plan must be fair and equitable. That plan will ultimately be subject to review and approval by the Court upon proper adequate notice to all investors.