Claims Process

Court Grants Receiver’s Request for First Interim Distribution

On October 11, 2023, the Court granted the Receiver’s motion requesting approval to make a first interim distribution of $100 million to investors with allowed claims. A copy of the Order is available here. First interim distribution checks were mailed to claimants entitled to receive them on October 13, 2023.

Motion Filed for Approval of First Interim Distribution of $100 Million

On September 18, 2023, the Receiver filed a motion seeking approval to make a first interim distribution to investors with allowed claims. A copy of the Receiver’s motion is available here. The Receiver is seeking permission to make an interim distribution of approximately $100 million as set forth on Exhibit 1 attached to the motion, which would provide claimants entitled to participate in the distribution approximately 67% of their allowed amounts. If the motion is granted, the Receiver will make every effort to promptly send distribution checks by U.S. Mail. This website will be updated once the Court enters an order on the motion. If you have any questions regarding this motion or the claims process, you may contact the claims administrator, Omni Agent Solutions, at: equialtclaims@omniagnt.com or (866) 956-2142.

Court Grants Receiver’s Motion to Approve Determination and Priority of Claims

On July 26, 2023, the Court granted the Receiver’s Motion to (1) Approve Determination and Priority of Claims, (2) Approve Plan of Distribution, and (3) Establish Objection Procedure (“Motion”).  A copy of the Motion is available here and a copy of the order is available here.

On or about August 8, 2023, the Receiver will mail individual letters for each claim to the respective claimant by U.S. Mail. Each letter will identify the claim number assigned to that claim, the claimant’s name, and the claim determination approved by the Court. The letter also will contain detailed instructions regarding the Court-approved objection procedure. To minimize expenses to the Receivership and conserve resources, please do NOT contact the Receiver’s team to ask for your claim number until you have allowed sufficient time to receive this letter. If you do not receive the letter within a few days of the mailing date, please contact the claims administrator, Omni Agent Solutions, at equialtclaims@omniagnt.com or (866) 956-2142 to request a copy of your letter and verify your address.

Please review the information in the letter carefully. If you submitted more than one claim, you should receive a letter for each claim you submitted. Take note of the claimant’s name and the assigned claim number. This name and number will be used throughout the claims process. The letter includes the Receiver’s Court-approved determination of the claim as set forth in the Exhibits to the Motion. More information regarding claim determinations and the Receiver’s plan of distribution can be found in the Motion itself. Claims have been approved in full, approved in part, and denied. Some claims require additional information or documents be provided to the Receiver on or before twenty days of the date of mailing of the aforementioned letter or the claim may be denied.

• Exhibit 1 – Investor Claims – Allowed
• Exhibit 2 – Investor Claims – Allowed in Part
• Exhibit 3 – Investor Claims – Denied

If you agree with the Receiver’s Court-approved determination of your claim and the claim determination does not expressly require any additional information or documents, you do not need to take any further action. As set forth more fully in the Motion and the letter, if you wish to dispute the Receiver’s Court-approved determination of your claim, you must submit a written objection in accordance with the procedures described in the letter and Motion. All objections must be served on the Receiver, Burton W. Wiand on or before August 28, 2023 at 114 Turner Street, Clearwater, Florida 33756 and should not be filed with the Court. An objection may also be submitted by email

to: EquiAltReceivershipObjection@BurtonWWiandPA.com.

Failure to properly and timely serve an objection to the determination of your claim, its priority, or plan of distribution shall permanently waive your right to object to or contest the determination of your claim, its priority, and plan of distribution and your final claim amount shall be set as the Allowed Amount determined by the Receiver and approved by the Court.

After the objection deadline, the Receiver will evaluate any objections and work to resolve or litigate those objections. The Receiver’s ability to make a first interim distribution to claimants with approved claims will depend on the number and nature of objections. The Receiver cannot predict a distribution date or amount until any objections have been received and evaluated. Hopefully, the objection process will proceed smoothly and the Receiver and his professionals can distribute funds in the not-too-distant future. For more information, please continue to monitor the Receivership website and the Receiver’s interim reports.