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;
The Jordan investors will forever release all claims they may have to the Receivership estate as concerns their Jordan related investment;
In order to participate, Jordan investors must complete the claims form and process;
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