HEARING SCHEDULED ON DISTRIBUTION METHOD AND PROCEDURES

3 Sep

On August 5, 2014, Joseph W. Grier, III, Receiver, filed a motion to approve various procedures for finalizing the amount of any and all claims against the Mason Receivership Estate and for distributing assets of the Mason Receivership Estate to those customers having allowed claims. As indicated in a previous post, the Court has approved the claims procedures proposed in the Receiver’s motion.

However, as to distribution procedures, Walter T. Krantz raised certain objections to the Receiver’s proposed methodology. As a result, the Court entered the attached order scheduling a hearing for October 14, 2014 at 2:00 p.m. in Courtroom 3 of the Charles R. Jonas Federal Building located at 401 West Trade Street, Charlotte, NC 28202.

During the hearing, the Court will consider the appropriate method for calculating distributions to investors, including any objections filed by investors to the Receiver’s proposed methodology. Persons wishing to object to the proposed distribution procedure must file their objections with the Court at least ten (10) days prior to the hearing. Objections filed after that date will not be considered by the Court. Objections must be filed in writing with the U.S. District Court for the Western District of North Carolina, either electronically through the Court’s ECF system or mailed / hand-delivered to the Court at the address listed above.

Letter from Walter Krantz Objecting to Distribution Motion

Order Setting Hearing on Distribution Procedures

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