On March 17th, 2008, the Court issued an Order Granting Reciever’s Second Motion for Approval of Partial Distribution (see Court Orders And Filings). The Receiver anticipates that checks should be in the mail by the end of next week to all investors with Court approved claims.
After the remaining claims and outstanding issues are resolved, the Reciever will seek approval from the Court for a final distribution of sale proceeds.
Additionally, the Court approved the 10th motion to allow claims. Checks to the 55 investors included in that motion have already been mailed. The 11th motion to allow claims, including the claims of 41 investors, is still pending Court approval.