Receiver’s First Report

20 May

First Receiver Report

The Receiver has filed his first report to the Court summarizing the Receiver’s efforts to marshal and collect assets, administer the receivership estate and otherwise perform the duties mandated by the Court. The Receiver anticipates filing similar status reports with the Court approximately once per quarter.

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4 Responses to “Receiver’s First Report”

  1. Illana May 20, 2013 at 10:43 pm #

    Thank you for posting this information. This is what we have been wanting to see. Thank you for keeping us updated as to the progress of this case.

  2. Vohn A May 20, 2013 at 11:22 pm #

    So they have found 643,000 dollars, why can’t there be a distribution? How long will it be before any money is distributed? Will we just wait and wait while the receiver eats up all money looking for additonal money? For god sakes sell the assets, get what you can, distribute the money and then move on looking for additional monies. Why in the world does all assets need to be identified before a distribution can take place? This is the rediculousness of the process. Spend a few minutes reviewing what is owed to the investors – there are under 500. My sister-in-law is a CPA and could do this in less than a week with records. C’mom, be a stand up receivership and not exploit the investors like is typical in most of these cases.

  3. Veronica May 22, 2013 at 10:32 am #

    How many quartwea do you anticipate filings?

  4. Upset May 22, 2013 at 5:30 pm #

    true, there are 500 pool members, but there is also about 100 FTAH Partners that money is owed to.

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