Confirmation of Investors’ Claims Packets. We are still in the process of verifying the investors’ claims packets with the information contained in the LifeTime Capital, Inc.’s database and files. Many of you have called regarding the slow process involved. This is due to several factors, mainly the vast amount of documentation that must be reviewed and verified. Additionally, the Court requires the Claim forms to be accurately completed by the correct investor, beneficiary or estate representative. Unfortunately, many claims received have not been initially filled out correctly, resulting in the Receiver having to spend additional time assisting investors with their claims.
As of this date, 2031 claims have been confirmed, and either approved by the Court or expected to be approved in the near future. It should also be noted that there are still approximately 430 investors who have not returned their claims packets. If you are an investor, or a family member of a deceased investor, please make every effort to submit your claim forms to the Receiver’s office so that we can submit your claims and supporting documentation to the Court as soon as possible and you can receive any distributions that may be made.
The Receiver is currently in the process of requesting that the Court allow the Receiver to send an initial partial distribution by the end of the 2006 calendar year to all investors whose claims have been confirmed and approved by the Court. At this point, since the Receiver’s office still has over 400 claims to process, the exact amount that will be distributed to each investor is unknown. The Receiver will continue to process investor claims and, as claims are confirmed, will submit those claims to the court for approval so that partial distributions can be made periodically. The Receiver wants to assure all investors that we are working diligently to process all claims received. If you have questions regarding the distribution, PLEASE DO NOT CALL. This will greatly assist us in being able to process and confirm your claims as quickly as possible.
Jordan Policy Investors Only. The Receiver has been in the process of disbursing funds to the Jordan Policy investors over the last few months. Although initially there was a database issue causing some problems, we have resolved those problems. Those of you who have returned your Mutual and Reciprocal Releases should have already had your checks processed or they will be processed as soon as possible.