RECENT UPDATES

UPDATED 11 May 2018

This Update relates to the distribution made in December 2017 of which creditors were having difficulty negotiating the distribution cheques.  This Update does not relate to those that were able to cash their cheque or that previously submitted an Amended Claim Form and received a wire.

As of the date above, all wires have been sent to all qualifying creditors that submitted Amended Claim Forms.  If you submitted an Amended Claim Form and do not receive a wire by next Wednesday, 16 May, please contact me at Bob.Morrison@MorrisonVFS.com If you did not receive or were unable to cash your distribution cheque, and have not submitted an Amended Claim Form (click here), you must do so by 5:00 PM U.S. Eastern time next Wednesday, 16 May.

Thank you.

 

UPDATED 4 April 2018

If you have not done so already, please read the 19 March 2018 and 30 March 2018 Updates (below) first.

For all of you that submitted your Amended Claim Forms by last Friday (30 March), your wires went out Monday (2 April) or Tuesday (3 April).  Those should reach and clear your bank no later than Friday, 6 April.  

For those of you that submitted your Amended Claim Forms after last Friday, or that will be submitting your Amended Claim Forms before the deadline of this Friday, April 6, 17:00 (U.S. Eastern time), those wires will be going out no later than next Monday, 9 April.  

Thank you again for your cooperation and patience.

 

UPDATED 30 March 2018

If you have not done so already, please read the 19 March 2018 Update (below) first.

We have successfully tested the wiring protocol with one of your fellow-creditors and will begin wiring to all others who have sent to me the Amended Claim Form (click here).  The deadline for submitting an Amended Claim Form (click here) is next Friday, April 6, 17:00 (U.S. Eastern time).  

For those of you that have already submitted the Amended Proof of Claim, the wires should be completed and processed into your accounts by Monday, April 9.  If you do not receive the funds by then, please contact me via email (Bob.Morrison@MorrisonVFS.com).

If you submit your Amended Proof of Claim between March 30 and the deadline next Friday, please allow two weeks for the wires to be initiated and processed into your account. If you do not receive the funds by then, please contact me via email (Bob.Morrison@MorrisonVFS.com).

Thank you for your continued cooperation and patience.

 

UPDATED 20 March 2018

If you have not done so already, please read the 19 March 2018 Update (below) first.

I am beginning to receive completed Amended Claim Forms.  Thank you.  It will take a while for me to coordinate with my bank to stop payment on the checks and to issue wires.  I will post an update here after all of the wires have been sent.   


UPDATED 19 March 2018:  VERY IMPORTANT INFORMATION - PLEASE READ CAREFULLY.  PLEASE READ IN ITS ENTIRETY.

For those creditors that are unable to negotiate their distribution cheques or that did not receive their distribution checks, I will be stopping payment on your cheques and wiring the funds.  In order to accomplish this, you MUST complete and submit an Amended Claim Form (click here).  

All information requested on the Amended Claim Form MUST be provided and printed legibly.  Failure to include all required information or illegible information will result in the DENIAL of your Amended Claim with no future relief.

All original Claimants of each claim MUST sign the Amended Claim Form (see the form for instructions regarding deceased or divorced claimants).  Failure to obtain the signatures of all original Claimants will result in the DENIAL of your Amended Claim with no future relief.

Please note that I will be unable to "split" the claim amount between/among claimants.  

 

UPDATED 9 March 2018 

Representatives of the Office of the U.S. Trustee responded with guidance that will help resolve some, but not all of the issues.  I have asked them for further clarification and guidance on the unresolved issues.  

 

UPDATED 4 March 2018

Nothing new to report.  I am still awaiting guidance from the Office of the U.S. Trustee.

For those of you that did not receive a disbursement, the proposal I made to the Trustee will also take care of you if you are entitled to a disbursement.   

 

UPDATED 21 February 2018

I am still awaiting guidance from the Office of the U.S. Trustee.

For those of you that did not receive a disbursement, the proposal I made to the Trustee will also take care of you if you are entitled to a disbursement.   

 


UPDATED 14 February 2018

I have informally proposed a solution to the Office of the U.S. Trustee and am awaiting their comment(s).  If they object, I will have to formally file a motion with the Court, a requirement that will further require a hearing, etc.  I intend to update the site weekly even if there is no new news, so please check back periodically. 

 


UPDATED 7 February 2018

TO ALL CREDITORS:

I am aware that some of you continue to have difficulty negotiating your disbursement checks with your banks.  My attorney and I are talking with the bankruptcy court clerk's office and with the Office of the United States Trustee to determine what can and cannot be done and whether additional Court proceedings will be necessary.  Please check back here periodically for updated information. 

We have found some instances where the Claimant was initially told by his/her banks that the cheque could not be cashed, ultimately the bank relented after it understood the nature of the transaction.  I therefore ask that you make all efforts to resolve your bank's objection(s) before looking for other relief.

Thank you all.

 


Comments