October 15, 2025 - Message from the Receiver
Message from Receiver –
October 15, 2025
On October 15, 2025, the Receiver filed a Motion to Approve Plan for Claims Administration and Distribution of Proceeds which, if approved, will commence the process of distribution to all claimants who have their claim approved by the Court. A hearing will be held with regard to the Receiver’s Motion and proposed Plan on January 22, 2026 in courtroom #2 at the J. Waties Waring Judicial Center, 83 Meeting Street, Charleston, SC 29401. Every claimant will receive the Receiver’s Motion and proposed Plan through the U.S. Mail. A copy can also be found here on the website. Please review all the information contained in the Motion and Proposed Plan before calling the Receiver’s office with questions. Please note that this hearing is ONLY to decide the validity of and to rule upon the approval of the Plan being proposed. It is NOT a hearing to decide who gets to participate in the distribution and who does not. That hearing will be held at a later date.
If the Plan is adopted by the Court, a copy of the adopted Plan as well as the Receiver’s Schedule of Net Loss Amounts will be mailed to each Claimant by U.S. Mail and posted on the website. The plan will set forth the date by which a Claimant must complete the filing of their objection, if any, and will also provide a hearing date to resolve objections relevant to the information contained in the Schedule of Net Loss Amounts. Please note that the Schedule of Net Loss Amounts will not indicate the amount a Claimant will receive. After resolution of any objections, the procedure for which is set forth in more detail in the Plan, an amount for each claimant’s initial distribution will be calculated and checks will be mailed.
ECF 85 - Motion to Approve Plan for Distribution