Llc liquidating distributions
The United States District Court for the Southern District of Indiana has set a deadline of Thursday, November 15, 2012, for any victim to notify the Government if they plan on attending the sentencing hearing for defendants Tim Durham, James Cochran and Rick Snow on November 30, 2012.Additionally, the court has set November 15th as the deadline for notifying the Government if you intend to make an oral victim impact statement during the sentencing proceedings.On March 11, 2010, the Court entered its Order Appointing Brian Bash, Esq. On May 1, 2017 this case was transferred from Judge Pat E. The staff of the Clerk of the Bankruptcy Court and the staff of Kurtzman Carson Consultants LLC are not permitted to give legal advice. However, the Trustee is unable to estimate how much may be recovered from an eventual sale of this asset. The Trustee will be filing a motion with the Bankruptcy Court seeking authority to sell the property shortly. National Lampoon has agreed to provide the Trustee with an accounting of its stock ownership records, but the Trustee believes that Durham has a substantial equity ownership interest in the company.On December 18, 2015, the Trustee filed a Report of Interim Distribution. National Lampoon stock currently has little face value, as it is delisted (on the “pink sheets”) and not traded publicly. Tim Durham has assigned approximately 774,000 shares of common stock in CLST Holdings, Inc. The Trustee also holds Fair Finance Company’s 1,969,077 shares of common stock in CLST and Diamond Investments’ 737,000 shares. Rubber Reclaiming Lien and Assignment from Parent Company.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.
If a creditor’s name is listed in Exhibits 1 and 2, that creditor should be receiving a check in the amount listed next to his or her name. On April 6, 2015, a settlement of approximately .5 million with Daniel Laikin, one of Fair Finance’s former directors, was approved by the Bankruptcy Court. The balance of the settlement amount must be paid by no later than December 17, 2015. 11-cv-4999-DSF-AGR in the United States District Court for the Central District of California). The case alleged claims for conversion, fraud and civil conspiracy, among other claims, against former officers and directors of Fair Finance. The Trustee has yet to receive the distribution on account of the shares assigned from Tim Durham and James Cochran, but expects to receive approximately 0,000. The Trustee was assigned the parent company’s ownership interest in US Rubber, including all intellectual property rights. However, the Trustee does not believe that the stock in these companies, which are largely defunct, has significant value.The only difference is that Exhibit 1 lists the claims in numerical order by claim number and Exhibit 2 lists the claims in alphabetical order by the name of the claimant. Payment is secured by a first lien on National Lampoon’s receivables, and in the event that the company or its assets are sold, the proceeds will be first paid to the Trustee, on a pro rata basis with one other secured creditor who is owed million. James Cochran, one of Fair Finance’s owners, assigned the Trustee substantially all of his existing and future assets. The Trustee anticipates commencing a claim allowance process to enable calculation of the actual claims against the estate.Where a proof of claim identified the claimant as a minor, that minor’s name has been abbreviated as required by the bankruptcy court rules. Click HERE to access that motion, which describes in detail the reasons why the Trustee believes the settlement should be approved. James Cochran is currently serving a twenty-five year prison term in federal prison in connection with the Fair Finance Ponzi scheme. Claims against John Head were settled in connection with the settlement described above, and includes ,000, representing Mr. The Trustee intends to make an interim distribution to creditors whose claims are not subject to dispute and will preserve funds necessary to pay any disputed claims upon final determination by the Court pursuant to the claims process. A Note about Offers to Buy Your Claim You may have been contacted by a claims trader, someone who has offered to give you money now in exchange for the right to receive your share of any distributions from the Fair Finance estate.Interim distributions are rarely made in chapter 7 bankruptcy cases (like Fair Finance), but this is a special case. On May 28, 2015, a settlement in the amount of approximately 0,000 with John Head, Fair Finance’s former president, and a company owned by Mr. Click HERE to access the motion for approval of the settlement, which described in detail the reasons why the Trustee believed the settlement should be approved. Head’s allocated share of certain insurance proceeds. Claims against Daniel Laikin were settled in connection with the settlement described above. It is completely your decision whether to sell your claim.The Trustee knows that many creditors lost their retirement or life savings when Fair Finance went into bankruptcy. However, it is important to carefully read and understand the contract that a claims trader provides you before deciding to sell your claim.