Home

This is the website of the court appointed receiver of Management Solutions, Inc., more than 200 related companies, Wendell A. Jacobson, and Allen R. Jacobson. Click here to see a list of the related companies in receivership. 

UPDATE (April 17, 2018)

On April 17, 2018, Judge Bruce S. Jenkins granted the motion for approval of the fifth and final distribution.  The Receiver expects to make this distribution during this coming week.  Click here to review the order.

UPDATE (April 16, 2018)

On April 16, 2018, the Receiver filed a motion to approve the fifth distribution with the Court.  The motion proposes a distribution of $8,879,500, which will bring allowed Class 5 investor claims to a 100% return of their Adjusted Investor Claims.  Click here to review the motion.

Click here to review a copy of schedule showing distributions made to Class 5 investors thus far, as well as the amounts to be paid with this fifth and final distribution.

UPDATE (February 15, 2018) – BLACK CLIFF SETTLEMENT

On February 2, 2018, Judge Bruce S. Jenkins granted the stipulated motion to approve settlement with Black Cliff.  Click here to review the order.  Refer to Exhibit 1 of the order to review the settlement agreement. 

UPDATE (October 31, 2016) – ANTICIPATED FINAL DISTRIBUTION TIMING

The Receiver’s accountants have prepared, and the Receiver has filed and will continue to file, all tax returns required for the receivership.  To date, the Receiver has filed receivership estate tax returns for the calendar years 2011-2015.  These returns indicate that no receivership estate tax is owing to any federal taxing authority.  While the Internal Revenue Service typically has 3 years to audit a tax return, the Receiver has filed and asked the Internal Revenue Service for a prompt determination of the tax liability for the returns that have been filed under IRC Section 6501(d).  Under the “prompt” determination guidelines, the IRS has up to 18 months to determine if an audit is warranted and the assessment of any tax liability.  Because of the uncertainty inherent in this audit process in terms of both cost and time, and based on counsel from retained tax professionals, the Receiver does not anticipate making further interim distributions in the receivership.  The Receiver still anticipates making a substantial final distribution once the 18 month period has passed and the IRS has notified the Receiver of the closing of the tax period. 

UPDATE (April 12, 2016)

On April 12, 2016, Judge Bruce S. Jenkins granted the motion for approval of fourth distribution.  The Receiver expects to make distribution sometime during this week.  Click here to review the order.

UPDATE (March 11, 2016)

On March 11, 2016, the Receiver filed a Motion to Approve Fourth Distribution with the Court.  The motion proposes a distribution of $4,218,443.71, which will bring allowed Class 5 investor claims to a 95.94% return.  Click here to review the motion.

Click here to review a copy  of schedule showing distributions made to Class 5 investors thus far, as well as the amounts proposed to be paid with this proposed Fourth Distribution.