Persons who are owed money by any of the companies or individuals in receivership are entitled to file a claim form in the receivership and may be eligible to participate in distributions of available funds from the receivership. A Court-approved process will be implemented to determine the allowed claims. The claim form and instructions is the first step in that process. The purpose of the claim form is to gather information. It will be mailed and e-mailed to all known claimants, and availability of the claim form and instructions will be advertised to solicit claims from those who do not receive the mailed notice. There is a deadline to file claims and claims not filed by that date will be considered late and may be denied. Upon receipt of a completed claim form, the Receiver will review the information in the claim form and supporting documents and compare it to records of the receivership entities and other records compiled by the Receiver. The Receiver will then take one or more of the following actions: (i) validate the claim, in which case, the Receiver will recommend approval and allowance of such claim; (ii) request additional information from the claimant; or (iii) object to the claim should the Receiver and claimant be unable to reach agreement on a validated claim. If the Receiver objects to the claim, notice of the objection will be given to the claimant and filed with the Court, after which the Court will determine if the claim will be allowed.
The deadline to file claim forms is September 2, 2014. Again, claim forms not filed by this date may be denied.
Update 09/08/2014