Claims Process

Court Approves Receiver’s Motion to Close and Final Distribution

On January 24, 2024, the Court approved the Receiver’s Final Report and Motion to Close the Receivership. A copy of the order is available here. The Receiver will promptly send distribution checks by mail. This is the final distribution of Receivership assets. The Receiver is in the process of winding down this Receivership. This website is scheduled to be closed on December 31, 2024. Documents and information currently available here will no longer be accessible from the internet from that date forward.

Receiver Files Motion to Close and Seeks Approval of Final Distribution

On October 25, 2023, the Receiver filed his Final Report and Motion to Close the Receivership. A copy of the motion is available here. In this motion, the Receiver requests the Court’s approval of a final distribution of approximately $814,622, which would provide an additional recovery of approximately 5.4% of the Allowed Amounts of claims entitled to receive a final distribution. If the Court approves this motion, the Receiver will have distributed approximately $8.4 million on a pro rata basis to claimants who were entitled to participate in these distributions. These claimants will have received a recovery of approximately 55.4% of their losses. A copy of the proposed distribution can be found here. If you are a claimant with an allowed claim and your circumstances have changed since December 15, 2017, please see below.

ADDRESS CHANGES: If you are a claimant with an approved claim, and your mailing address has changed since December 2017, please contact Amanda Stephens (astephens@guerrapartners.law) to update your address as soon as possible.

DECEASED OR CHANGED CLAIMANTS: If the original claimant is deceased or has otherwise changed, please also contact Amanda Stephens. The Receiver will likely require additional information and supporting documents to ensure the funds are distributed to the correct beneficiaries.

On December 1, 2017, the Receiver filed an Unopposed Motion to Approve (1) Second Interim Distribution; (2) Determination of Late-Filed Claim; and (3) Disbursal of Funds.  The Report may be viewed here. 

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On December 17, 2015, the Court entered an Order granting the Receiver’s Motion to (1) Approve Determination and Priority of Claims, (2) Pool Receivership Assets and Liabilities, (3) Approve Plan of Distribution and First Interim Distribution, and (4) Establish Objection Procedure (the “Claims Motion”).  A copy of the order can be found here. 

By granting the Claims Motion, the Court adopted an objection procedure which allows each claimant to object to the determination of his/her claim, claim priority, and/or to the plan of distribution. The deadline for objections is January 13, 2016.On December 24, 2015, the Receiver will mail each claimant a letter informing the claimant of this procedure for serving a written objectionand other relevant information. Click  herefor a sample copy of this letter. If you do not receive a letter from the Receiverwithin a reasonable time and you believe that you should have received one, please contact Mary Gura at (813) 347-5121. A full copy of the objection procedure approved by the Court can be found  hereat pages 49 through 51. Failure to properly and timely serve an objection to the Receiver’s claim determination, claim priority, or plan of distribution on or before January 13, 2016 will permanently waive and bar the claimant’s right to object to or contest the Receiver’s claim determination, claim priority, and plan of distribution, and the final claim amount will be set as the Allowed Amount determined by the Receiver and approved by the Court as set forth in the Exhibits attached to the Claims Motion. The Court also approved the Receiver’s plan of distribution which contemplates a first interim distribution to be made on a pro rata basis and subject to certain exceptions discussed in the Claims Motion. At this time, the Receiver anticipates an interim distribution to claimants with Class 1 allowed claims with a positive Allowed Amount, i.e., to investors who suffered losses as determined by the Receiver and approved by the Court.  The Receiver has received Court-approval to distribute 26% of the Allowed Amounts.  He intends to make the distribution promptly after the deadline for objections has expired and he has had an opportunity to review any objections that are submitted.  Although the Receiver does not foresee any delays, there is a chance that an objection could interfere with the timing of this distribution.  If you have any questions regarding this order or the claims process, you may contact Amanda Stephens at (813) 347-5100 or astephens@guerraking.com.

 

On September 9, 2015, the Receiver filed a Motion To (1) Approve Determinations And Priority Of Claims, (2) Pool Receivership Assets And Liabilities, (3) Approve Plan Of Distribution And A First Interim Distribution And (4) Establish Objection Procedure.   A copy of the Motion can be found here. Each Claimant will receive a letter in the near future identifying their claim number.  

 

4/1/2015 - Court Grants Receiver's Motion to (1) Approve Proof of Claim Form and Procedure to Administer Claims, (2) Establish Deadline for Filing Proof of Claim, and (3) Permit Notice by Mail and Publication and Incorporated Memorandum

On March 27, 2015, the Court entered an Order granting the Receiver’s Motion to (1) Approve Proof of Claim Form and Procedure to Administer Claims, (2) Establish Deadline for Filing Proofs of Claim and, (3) Permit Notice by Mail and Publication.  A copy of the order can be found here. 

By granting the Receiver’s Motion, the Court has approved a procedure for each person or entity who thinks that he or she may have a claim against the Receivership to submit a claim to the Receivership assets. If you believe you may have a claim arising out of or in any way related to the acts, conduct or activities of the Receivership Entities, you MUST submit an original, written Proof of Claim Form as set forth in the Claim Process Instructions and Proof of Claim Form.  The Proof of Claim Form must be received by the Receiver on or before June 30, 2015.  FOR INVESTORS, THIS IS THE PROCEDURE BY WHICH YOU MAY SEEK TO RECOVER FOR YOUR LOSSES FROM THE RECEIVERSHIP.

On April 1, 2015, the Receiver mailed each known investor, other known potential creditors, and certain other individuals a letter advising of this procedure, a Proof of Claim Form, and the Claims Process Instructions.  Click here for a sample copy of this letter. If you did not receive a letter from the Receiver and you believe that you should have received one, please contact Amanda Stephens at (813) 347-5100 or astephens@guerraking.com.  Alternatively, a copy of The Proof of Claim Form can be found here and a copy of the Claims Process Instructions can be found here.

THE CLAIMS BAR DATE IS JUNE 30, 2015.  ANY PERSON OR ENTITY WHO FAILS TO SUBMIT A PROOF OF CLAIM TO THE RECEIVER ON OR BEFORE THE CLAIMS BAR DATE (JUNE 30, 2015) SHALL BE FOREVER BARRED AND PRECLUDED FROM ASSERTING A CLAIM AGAINST THE RECEIVERSHIP OR RECEIVERSHIP ENTITIES. 

  

2/11/2015 - Receiver Sends Correspondence to Tri-Med Investors

On February 10, 2015, the Receiver mailed a letter to each  investor regarding the filing of Motion relating to claims process and other efforts and events.  The letter is available for your review here.