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The Trustee will continue to make 100% distributions to holders of Allowed 30.7 Claims.Holders of Allowed Futures Claims that did not receive the full amount of their Prior Distributions will receive their pro rata share of the undistributed portion of all Prior Distributions.Such hearing may be continued from time to time without further notice other than by announcement in open Court. In their Complaint, Plaintiffs assert four claims: Count I alleges that PFG breached fiduciary duties to the Class Members by misrepresenting the manner in futures deposits would be accepted and handled and failing to disclose the embezzlement of customer funds by PFG’s CEO, Russell Wasendorf, Sr.A copy of the Motion and the proposed order is available here. Count II alleges that PFG’s failure to disclose Wasendorf’s theft of customer funds to Class Members was common law fraud, and Count III asserts that PFG was unjustly enriched by accepting Class Member funds for futures trading while failing to disclose Wasendorf’s misconduct.The more offices we have joined together in this unfair effort to take back money for collection and processing services that we all contracted for in good faith on behalf of our patients, the less we each will pay individually.
Although a bankruptcy judge has the ultimate authority on the distribution of assets, the trustee is charged with evaluating and making recommendations about various debtor demands in accordance with the U. In a Chapter 7 proceeding, the trustee will manage the asset sales and then distribute the proceeds to creditors.
Dear Colleagues: Several weeks ago, our office received a Bankruptcy Fraudulent Transfer Demand Letter from the Liquidating Trustee of the Health Diagnostic Laboratory Inc et al, Liquidating Trust (HDL).
They were demanding 90% return of processing fees HDL paid to us.
The Trustee also requested authority from the Bankruptcy Court to set p.m.
(CST) on February 23, 2017 as the “Record Date” for the Proposed Distribution.
In May, 2010, 93 percent of investors approved a liquidation plan for Provident Royalties, LLC.