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

27Apr/10Off

A hearing has been scheduled for April 29, 2010. The hearing will address several Motions that have been recently filed, including the Receiver's Motion to Disallow Claims and the Receiver's Motion to Disallow Claims of Certain Jordan Investors. The Receiver has asked the Court to reallocate any funds that have previously been escrowed against the claims for which disallowance is sought to all other claimants. The Receiver anticipates that this hearing will allow completion of the claims process insofar as investors are concerned. These matters have been filed pursuant to the Court's prior Orders to determine the disposition of the remaining claims that are not Court-compliant. The Notice of Hearing and related Motions can be found under Court Orders and Filings.

Also, the Fourteenth Motion to Allow Claims has been filed. This Motion seeks confirmation and approval of the claims of about 70 investors.

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 is unlikely to occur.

The Receiver is pleased to report that the convictions of David Svete in U.S.A. v. Svete, Case No. 3:04 cr 0010MCR, U.S. District Court for the Northern District of Florida, are now final. Recently the U.S. Supreme Court, without comment, denied Mr. Svete's Petition for Certiorari. This was his final attempt to challenge the merits of his convictions and sentences. He will no doubt exercise his post-conviction challenges to his convictions, but the importance of the Supreme Court denial is that the findings of Mr. Svete's guilt are now final as a matter of law.

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