The Receiver John A. Beckstead has accepted an assignment from The Church of Jesus Christ of Latter-Day Saints to serve in the Church’s Office of Area Legal Counsel – Pacific Area, based in Auckland, New Zealand. The Court was advised of this assignment last January. At a hearing yesterday afternoon, Judge Jenkins granted a Motion of the Securities and Exchange Commission to discharge Mr. Beckstead as Receiver to allow him to accept this assignment. The Court appointed Gil A. Miller of Rocky Mountain Advisory as the successor receiver, effective upon execution of the Court’s Order. The Order was signed today. Mr. Miller has now succeeded to all of the rights, powers and contracts of the Receiver.
Mr. Miller’s contact information is:
Rocky Mountain Advisory
215 South State, Suite 550
Salt Lake City, UT 84111
Mr. Beckstead has been working with Mr. Miller for several weeks and will continue to be available to Mr. Miller for a short time to insure there will be no disruption in the business and affairs of the receivership. Mr. Miller will continue to use Holland & Hart and Fabian & Clendenin as his legal counsel.
February 28, 2014 Update
K-1’s and similar reports for 2013 will not be available to investors in time to file income tax returns by the April 17, 2014 deadline. Investors should request extensions for filing their returns. These reports should be available well before the September 15, 2014 extended deadline.
This delay was caused by continuing analysis and issues concerning the Qualified Settlement Fund status under the Internal Revenue Code.
February 19, 2014 Update
The Receiver has determined the percentage allocations to each of the multi-family properties for the net proceeds from the pending sale to Cortland Acquisitions. A schedule of the percentages is posted under the Multifamily Portfolio Sale tab.
February 4, 2014 Update
The Receiver has entered into two contracts for the sale of the multi-family properties. Details can be found at the new Multifamily Portfolio Sale tab.
January 30, 2014 Update
The Receiver’s Eighth Quarterly Status Report as of December 31, 2013 has been filed with the Court and is available under the Receiver Reports tab of this website. As ordered by the Court, these reports will be filed within 30 days of the end of each calendar quarter.
November 1, 2013 Update