KCC Precedent Search Options

KCC's Corporate Restructuring Court Documents Search provides access to thousands of historical court documents located on KCC public access websites. Please use the form below to refine and maximize search results.

For information about the data provided, please review the Disclaimer statement.

Disclaimer


Welcome to the Information Website for the Aequitas Qualified Settlement Fund Irrevocable Trust et al.

Case Update:

The Successor Trustee of the Qualified Settlement Irrevocable Trust posted a Report of the Trust's Financial Condition and Activities Completed From Appointment November 1, 2023 and Completed from Transfer of Control at April 1, 2024.

If you have questions or comments about the content of the report, you are invited to use the Submit an Inquiry feature on the website. You may also submit an email inquiry to investorservices@aequitascapital.com or a U.S. postal letter directly to Aequitas Investor Services, c/o Stapleton Group, 514 Via de la Valle, Suite 210, Solana Beach CA 92075.

The Trustee believes it is in the best interest of the QSF Trust and the beneficiaries to complete the final distribution when all remaining assets are liquidated. Currently the final distribution from the remaining Trust assets is projected to be $2.0 to $2.5 million to Defrauded Investors, significantly smaller than the September 2023 distribution of $10 million and far below the July 2021 distribution of $22 million and October 2020 distribution of $74 million.

General Information:

Joint Notice of Termination of Receivership and Transfer of Authority and Control to David Stapleton as The Successor Trustee/Administrator of the Aequitas Qualified Settlement Fund Irrevocable Trust

On October 17, 2023, the Receiver filed his motion seeking termination of the Receivership Estate and requesting further and additional relief (the “Closing Motion”)1, which the Court granted on November 1, 2023 (the “Closing Order”). 2 The Closing Order (i) approved the Receiver’s Final Report; (ii) authorized the Receiver to perform any remaining administrative tasks and to take all actions necessary to transfer all of the Receiver’s rights and authority related to the Receivership Entity unabated until he has determined, in his sole business judgment, that all such tasks and actions have been completed to implement the relief requested in the Closing Motion; (iii) discharged and released the Receiver from the duties and responsibilities set forth in the Order Appointing Receiver; (iv) enjoined claims against the Receiver and his professional advisors; (v) authorized the appointment of David Stapleton and the Stapleton Group as successor Trustee/Administrator of the Aequitas Qualified Settlement Fund Irrevocable Trust (the “QSF”) to take appropriate actions to complete the remaining functions of the QSF and termination of the Receivership, effective upon the filing of this joint notice of termination by the Receiver and David Stapleton; and (vi) retained Court jurisdiction over the QSF until its termination prior to the dismissal of the captioned matter SEC v. Aequitas Management, LLC, et al., 3:16-CV-00438-JR

The Receiver Has Determined That All Tasks and Actions Needed Prior to The Transfer of Authority and Control to David Stapleton as the Successor Trustee/Administrator of the QSF Trust Have Been Completed.

Joint Notice of The Receiver and QSF Trustee Terminating the Receivership and Transferring Authority and Control to David Stapleton as the Successor/Administrator Of The QSF Trust. Based on the foregoing determination by the Receiver that all tasks and actions needed prior to the transfer of authority and control to the QSF Trustee have been completed, the Receiver and the QSF Trustee hereby provide their Joint Notice of Termination of the Receivership and transfer of authority and control to the QSF Trustee. Termination of the Receivership and transfer of authority and control to David Stapleton was effective as of April 1, 2024.

Aequitas Qualified Settlement Fund Irrevocable Trust address change: The Successor Trustee and Aequitas Qualified Settlement Fund Irrevocable Trust have a new mailing address: David Stapleton, Successor Trustee Aequitas Qualified Settlement Fund Irrevocable Trust, 514 Via de la Valle, Suite 210, Solana Beach CA 92075. Unless otherwise indicated, all mail correspondence, excluding service of legal pleadings, should be directed to the new mailing address.

Distribution Update: 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.

Additionally, you are highly encouraged to monitor this website for future announcements and additional distribution or related information.

The Receiver has completed the first, second, third and fourth interim distributions on certain Allowed Administrative, Former-Employees, Convenience Class, and Defrauded Investor claims. Click here for the details of the interim distributions. 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.

Magistrate Judge Jolie A. Russo approves Receiver’s Distribution/Ponzi Determination Motion. Click here to review the Order, including the related Findings of Fact and Conclusions of Law.

Receiver Reaches a Settlement Relating to Corinthian Student Loans: The Receivership has successfully concluded negotiations with the federal Consumer Financial Protection Bureau and several State Attorneys General, and reached a settled resolution with regard to the portfolio of loans receivable from former Corinthian Colleges Inc. student borrowers held by Campus Student Funding, LLC and related Aequitas Receivership companies. The settlement provides student borrowers with meaningful relief, while simultaneously preserving some value for the benefit of the Receivership Entity’s investors and creditors, and also ensures a final resolution that limits future claims against the Receivership Entity. The settlement was approved by the U.S. District Court on August 17, 2017. The Court motion, related settlement documents, and the Court Order can be found on this website at [Docket No. 492] and [Docket No. 493] and [Docket No. 495].

List of Receivership Entities: Per the terms of the Order Authorizing the Appointment of a Successor Trustee/Administrator of the Aequitas Qualified Settlement Fund Irrevocable Trust (“QSF”) [Docket No. 1045] the QSF Trust and its Successor Trustee has full control over all prior Aequitas Receivership Entities. Click here to view a list of the affiliated entities.

Civil Court Documents: Click here to be view the publicly-accessible version of the Court Docket.

This site is intended to provide information to individuals who invested with or in the named defendants. You may also submit an inquiry via email using the Submit an Inquiry link. You may expect a response within five business days.

Important Dates, Deadlines & Documents Show All Dates

March 31, 2020
(10:00 a.m. (PT))

March 20, 2020

February 20, 2020

January 24, 2020

July 31, 2019

later of March 27, 2020 or 30 days after Court final ruling on dispositive motions

February 21, 2020

January 17, 2020

December 20, 2019

November 22, 2019

October 25, 2019 written consents October 25, 2019

October 25, 2019

April 15, 2016

March 25, 2016

March 16, 2016

March 10, 2016

Parties & Addresses

Court Address

U.S. District Court
District of Oregon, Portland Division
Mark O. Hatfield U.S. Courthouse
1000 S.W. Third Ave.
Portland, OR 97204
https://www.ord.uscourts.gov/


Successor Trustee and Attorneys' Addresses

David Stapleton, Successor Trustee
Aequitas Qualified Settlement Fund Irrevocable Trust
514 Via de la Valle, Suite 210
Solana Beach, CA 92075

Unless otherwise indicated, all mail correspondence, excluding service of legal pleadings, should be directed to the above new mailing address.


Christy M. Tobin-Presser
Lesley Bohleber
Bush Kornfeld LLP
601 Union St, Suite 5000
Seattle, WA 98101
T: (206) 292-2110
http://www.bushkornfeld.com

Note

Kurtzman Carson Consultants LLC dba Verita Global (“Verita”) maintains this website at the direction of the Successor Trustee of the Aequitas Qualified Settlement Fund Irrevocable Trust. Verita maintains this website for the public's convenience and, while Verita makes every attempt to ensure the accuracy of the information contained herein, this website is not the website of the United States District Court and does not contain the complete, official record of the District Court. All documents filed with the Court are available for inspection at the United States District Court for the District of Oregon.