Receivership for Aequitas Management, LLC et al.

Case Number:

16-00438

Distribution Plan Information

Distribution Update: The Receiver has completed the first, second, third, and fourth interim distributions on certain Allowed Administrative, Former-Employees, Convenience Class, and Defrauded Investor claims. More details about the interim distributions can be found below. Distributions to Defrauded Investors were made to counsel representing Albers, Wurster, and Pommier litigation groups, to investment custodians, or directly to Defrauded Investors, as applicable. If future distributions are determined to be forthcoming, the Successor Trustee will provide noticing in accordance with the court’s direction.

On September 1, 2023, a copy of the Notice of Receiver’s (Fourth) Motion to Approve (1) Classification and Allowance of Certain Administrative and Creditor Class Claims, and (2) Approve Distributions on Account of Certain Allowed Administrative and Defrauded Investor Class Claims was mailed to the last known mailing address of those Claimants whose claims are the subject of this Motion. Please see the Exhibits attached to the Declaration of Ronald F. Greenspan in connection with the Receiver’s Motion, which was filed with the Court on August 31, 2023.

On July 16, 2021, a copy of the Notice of Receiver’s (Third) Motion to Approve Classification of Certain Claims (Administrative, Convenience Class, Creditors, and Defrauded Investors); Allow And Approve Distributions on Account of Certain Claims; And Approving Distributions to Claimants Who Elect Reclassification to Convenience Class Status was mailed to the last known mailing address of those Claimants whose claims are the subject of this Motion. Please see the Exhibits attached to the Declaration of Ronald F. Greenspan in connection with the Receiver’s Motion, which was filed with the Court on July 19, 2021. The corresponding Court order approving the third interim distribution can be found here.

On October 14, 2020, a copy of the Notice of Receiver’s (Second) Motion to Approve Classification of Certain Claims (Administrative, Former-Employees, Convenience Class, Defrauded Investors, Creditors, Individual Defendants, and Pass-Through Investors); and Allow and Approve Distributions on Account of Certain Claims was mailed to the last known mailing address of those Claimants whose claims are the subject of this Motion. Please see the Exhibits attached to the Declaration of Ronald F. Greenspan in connection with the Receiver’s Motion, which were filed with the Court on October 21, 2020. The corresponding Court order approving the second interim distribution can be found here.

On May 8, 2020, a copy of the Notice of Receiver’s (First) Motion to Approve (1) Classification; (2) Allowance of Claims for Certain Claimants (Administrative Claims, Convenience Claims And Former Employment Claims); and (3) Approving Distributions was mailed to the last known mailing address of those Claimants whose claims are the subject of this Motion. Please see the Exhibits attached to the Declaration of Ronald F. Greenspan in connection with the Receiver’s Motion. The corresponding Court order approving the first interim distribution can be found here.

On March 31, 2020, the Court entered its Findings of Fact and Conclusions of Law, a copy of which can be found here. In its Order, among other things, the Court:

• Approved the Distribution Plan as expressly modified by the Receiver;

• Overruled any objections to the Receiver’s Distribution/Ponzi Determination Motion that had not been withdrawn, waived, settled, or expressly reserved pursuant to the terms of the Order;

• Permitted the Receiver to commence with distributions consistent with the terms of the Distribution Plan without further order by the Court, noting that all distributions shall be free and clear of any and all liens, claims, interests, and encumbrances;

• Directed each Defrauded Investor and other Claimant to cooperate and supply such information and documentation as is requested by the Receiver and his professionals to effectuate the Distribution Plan; and

• Made the Order binding in all respects on all creditors and interest holders of the Receivership Entity and their successors and assigns.

On December 31, 2019, the Receiver filed a Motion to Approve the Receiver's Distribution Plan and Determination of a Ponzi Scheme, a copy of which can be found here. On January 14, 2020, the Court approved the form and manner of notice regarding approval of the proposed distribution plan and Ponzi determination and set deadlines and the date of the hearing to consider the distribution plan. Please see the Court order here.

The following timeline was approved:

• Receiver to mail the Notice by first class mail to investors and other parties in interest by 1/24/2020. (A copy can be found here.)

• Written responses or objections to the Receiver's Distribution Plan Motion to be filed and served by 2/20/2020.

• Receiver to file his reply to any such written responses or objections by 3/20/2020.

• The hearing on Receiver’s Motion to Approve the Receiver’s Distribution Plan and Determination of a Ponzi Scheme will be held on 3/31/2020.

If you have questions about the Distribution Plan Motion or the process for the Court to consider and approve the Distribution Plan, please review information available on this website and the Claims Agent’s website (http://www.AequitasClaims.com), as well as the Frequently Asked Questions available on the Claims Agent’s website. You are also encouraged to consult legal counsel.

You may also submit an inquiry through this website or the Claims Agent’s website (http://www.AequitasClaims.com).

Key Documents

• Findings of Fact and Conclusion of Law

• Receiver’s Motion to Approve the Receiver's Distribution Plan and Determination of a Ponzi Scheme

• Order (1) Approving Form and Manner of Notice Regarding Approval of Proposed Distribution Plan and Ponzi Determination, (2) Approving Procedures and Deadlines, (3) Setting a Hearing, and for Related Relief

• Receiver's Motion for Order (I) Approving Form and Manner of Notice Regarding Approval of Proposed Distribution Plan and Ponzi Determination (II) Approving Procedures and Deadlines, (III) Setting a Hearing, and for Related Relief (Filed by Ronald F. Greenspan)

• Notice of Hearing of the Receiver’s Proposed Distribution Plan, Proposed Finding of the Existence of a Ponzi Scheme and Your Right to be Heard