Welcome to the website of H. Thomas Moran II, Receiver of LifeTime Capital, Inc. The primary purpose of this website is to keep the investors of LifeTime Capital, Inc. informed of the actions of the Receiver and informed of current events.
January 21, 2013
There have been a few calls from investors about the possibility of a final distribution. The majority of the Receiver’s tasks have been completed and the vast majority of funds available for return to investors distributed. The Receiver and the Court are anxious to bring closure to the LifeTime Capital receivership and distribute to investors whatever small amount that might remain when the work is finished. However, there remain lawsuits that require continued attention. Though the Receiver’s hope is that there will be resolution to some if not all of those lawsuits in the near future, a final distribution, if there is to be one, can only happen when litigation is at or near the end.
July 1, 2012
Although there is little news to report at this time, the Receiver would to take this opportunity to update you on what has been happening since the last update in March.
Currently, there are still a number of pending lawsuits that must be resolved before the receivership is wound down and any final distribution of remaining assets can be made. In addition, there are also a number of appeals which are awaiting decisions in the Sixth Circuit Court of Appeals in Cincinnati Ohio. The Receiver expects to receive those decisions later this year and is hopeful that the court will terminate the litigation with a small group of Jordan investors and a third party who has unsuccessfully attempted to intervene in the receivership.
The Receiver is working diligently to resolve the lawsuit against David Svete but to date it remains unfinished. Unfortunately, Mr. Svete has recently filed bankruptcy which will require additional time and expense to address.
Many of you have called the Receiver's office to inquire about the final distribution. The timing of the final distribution is primarily a matter for the Court. However, until all claims are resolved and/or determined, and pending litigation issues resolved or formal rulings issued, a final distribution cannot be scheduled at this time.
Please continue to check this site periodically for updates.
Appointment of Receiver
H. Thomas Moran, II was appointed Receiver of LifeTime Capital, Inc. February 20, 2004, by Order of the United States District Court for the Southern District of Ohio, Western Division, in Dayton, Ohio.
Simply described, a Receiver is a person legally appointed to receive and have charge of property or money involved in a lawsuit (Webster's New Explorer Dictionary).