What the heck is going on with this whole situation? I have had a substantial amount of capital tied up there for a hell of a long time now and I am no longer even receiving updates on when and if there is even going to be a distribution... I've reviewed some threads here but there's really nothing up to date, anyone know ANYTHING?
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Tuco
- Thread starter drukes1234
- Start date
received this yesterday
'The Receiver's Report showing our work to date will be filed tomorrow.
An e-mail will be going out to all of the members advising that it has
been posted to our website for download once it has been posted. Our
next priority is an interim distribution. Once the report is filed, we
will be determining an appropriate amount for distribution. When that
has been determined, and when we have been able to secure a court date,
an e-mail will be sent to the members advising of both the requested
percentage and the hearing date. Right now, our best case scenario is
the end of June or first of July, depending on when we can get the
hearing date.'
'The Receiver's Report showing our work to date will be filed tomorrow.
An e-mail will be going out to all of the members advising that it has
been posted to our website for download once it has been posted. Our
next priority is an interim distribution. Once the report is filed, we
will be determining an appropriate amount for distribution. When that
has been determined, and when we have been able to secure a court date,
an e-mail will be sent to the members advising of both the requested
percentage and the hearing date. Right now, our best case scenario is
the end of June or first of July, depending on when we can get the
hearing date.'
I can suggest an appropriate % for distro......100%
hi
I have been in touch with Laura, Lennon's assistant. She is nice and as helpful as she can be.....
However, the fact that their office has once again not filed the accounting report is absolutely ridculous.
They knew about this deadline months ago.
I talked with Laura a few hours ago and she insisted it would be released today after telling me the exact same thing on Friday. Once again, no report.
I have tried to be patient and give Lennon the benefit of the doubt until I read the report.
My patience is quickly eroding.
I have been in touch with Laura, Lennon's assistant. She is nice and as helpful as she can be.....
However, the fact that their office has once again not filed the accounting report is absolutely ridculous.
They knew about this deadline months ago.
I talked with Laura a few hours ago and she insisted it would be released today after telling me the exact same thing on Friday. Once again, no report.
I have tried to be patient and give Lennon the benefit of the doubt until I read the report.
My patience is quickly eroding.
By the looks of the initial accounting summary, 13 mil is accounted for, and they are still waiting on 3 mil from other vendors.
Bottom line is 82% of the money is sitting in the account, and the other money is in receivables due from NYFX, two different BD's, and others.
I am actually happy with this so far. If we get half of the other money due, minus the attny fees, we will still end up with around 90% of the money.
Bandit
Bottom line is 82% of the money is sitting in the account, and the other money is in receivables due from NYFX, two different BD's, and others.
I am actually happy with this so far. If we get half of the other money due, minus the attny fees, we will still end up with around 90% of the money.
Bandit
I asked if they are going to get paid to sit on their lying asses and they replied 'The Receiver and his professionals are paid per hour of service provided. Their fees and costs are subject to Court approval. The Court carefully reviews fee applications to ensure that the fees and costs are reasonable. Under no circumstances is anyone paid to sit and do nothing.'
I bet there will be surprising 'work' that will 'have to' be done before the hearing
I bet there will be surprising 'work' that will 'have to' be done before the hearing