Motion to Authorize First Interim Distribution

18 Jun

On June 18, 2015, Joseph W. Grier, III, Receiver, filed a motion to approve the distribution of $900,000.00 in receivership estate assets to customers holding allowed claims against the receivership estate pursuant to the “rising tide” distribution method previously adopted by the Court (see below). With this first interim distribution, the Receiver’s intent is to ensure that all customers will have received — either through pre-receivership withdrawals, the Receiver’s proposed distribution, or a combination of the two — a total return of 28.1482258773% of their deposits into the Ponzi Scheme.

Please review the spreadsheet below, find your account number(s), and double-check that, with respect to your account(s), that the amount listed in the “Current Distribution Amount” column plus the (absolute value) of the amount listed in the “Pre-Receivership Distributions” column total an amount greater than or equal to 28.1482258773% of the amount listed in the “Pre-Receivership Contributions” column. If there is a discrepancy, please contact the Receiver at: masonreceivership@grierlaw.com

If you do not want the Court to approve this motion, or if you want the Court to consider your views, then on or before July 6, 2015, you or your attorney must do the following: (1) file a written response explaining your position with the Court; (2) mail, fax or email a copy of your response to the Receiver; and (3) attend a hearing on your response, if the Court schedules a hearing.

If you or your attorney do not take these steps, the Court may decide that you do not oppose the relief the Receiver requests and may enter an order approving the motion to approve the first interim distribution.

Motion to Make First Interim Distribution

Exhibit A – Motion to Make First Interim Distribution

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