Lifetime Receiver H. Thomas Moran II, Receiver of LifeTime Capital, Inc.

28Mar/06Off

Investors: A mediation was held regarding the Jordan policies on March 28, 2006 before Chief Magistrate Judge Michael Merz. Many investors related to the Jordan policies were in attendance along with some of their attorneys.

After nearly six hours of negotiations a tentative agreement was reached on the following terms:

1, Within sixty days of the funding of a sale of the portfolio the Receiver will pay the Jordan investors an amount equal to 62.5% of their Jordan related investment;

2. The Jordan investors will forever release all claims they may have to the Receivership estate as concerns their Jordan related investment;

3. In order to participate, Jordan investors must complete the claims form and process;

4. The matter is subject to the approval of Magistrate Judge Ovington who will hold a Fairness Hearing on April 13, 2006 at 9:30 a.m.
The hearing will be held in Courtroom #5 on the fifth floor of the Federal Building in Dayton, Ohio.

Anyone interested is free to attend the hearing.

Depending on the outcome of the bid consideration hearing on March 29,
2006 it is possible that a Fairness Hearing regarding the sale of the portfolio will be held immediately after the Jordan hearing.

You will receive notice of each by mail.

If you have any questions, concerns or comments please contact me.

Andrew Storar, Examiner

14Mar/06Off

Receiver Solicists Bids for the LTC Portfolio

Portfolio Sale FAQ (PDF)

Potential Purchasers:

For more information, please see:

Purchaser Cover Letter

Bidding Requirements

Order regarding Bidding Process, Supplement to the Order, and the Lorenzo Tonti bid

Information for Investors:

Investor Cover Letter

Letter to Investors, April 4, 2006

Order granting Motion to Shorten Time to File Objections to Receiver's Motion to Authorize the Sale of the LifeTime Portfolio Free and Clear of All Interests and Application to Set Motion for Expedited Hearing

Motion to Shorten Time to File Objections to Receiver's Motion to Authorize the Sale of the LifeTime Portfolio Free and Clear of All Interests and Application to Set Motion for Expedited Hearing

Order granting Motion to Approve Bidding and Portfolio Sale Procedures

Motion to Approve Bidding and Portfolio Sale Procedures

Motion to Authorize the Sale of the LifeTime Portfolio Free and Clear of All Interests

Motion Receiver's motion to approve compromise and settlement pertaining to certain policy proceeds

Order Granting Receiver's second motion to shorten time to file objections to receiver's motion to authorize the sale of the lifetime portfolio free and clear of all interests and application to approve manner of notice of expedited hearing.

Order Granting motion to shorten time to file objections to receiver's motion to approve compromise and settlement and to approve manner of notice of expedited hearing.

Filed under: News Comments Off
14Mar/06Off

Jordan Investors: We had a status conference on March 8, 2006, and the Court has ordered this matter to mediation before Chief Magistrate Judge Michael Merz on March 28 at 9 a.m. Some of you have contacted me recently and agreed that settlement should at least be explored. Concern has also been expressed that those of you who are not represented are not being heard. Counsel for those represented should be in attendance. Those of you who are not represented may appear or I will be in attendance to convey and express your positions if you contact me by e-mail or letter. As I have indicated a number of times, I believe the loser in this matter will appeal; it will be lengthy and costly. If a resolution can be reached that avoids that process, everyone wins although perhaps not as much as they had hoped.

Andrew Storar
Examiner

2Mar/06Off

Investors ; Many of you have been calling and writing.

There is as yet no decision regarding the Jordan policies. Courts occasionally appear to move slowly for a variety of reasons including case overload. I can not speed that process up. I do still believe a settlement is the best option for all parties.

The Court has been considering contempt motion against several insurers and viators whose lack of cooperation has slowed the Receiverís progress. The Receiver has been looking in to the sale of all or part of the portfolio although no deals have been concluded.

Other collection efforts such as the broker cases and the funds in Canada are ongoing.

Andrew Storar, Examiner

1Mar/06Off

TOTAL Matured Policies through March 2006

Filed under: Reports Comments Off