As you already know, the Receiver filed a motion on October 31st for the court to approve his plans to start distributing money.
Well, the hearing to approve the motion was set for yesterday, December 4th, at 10 AM. Then last Thursday, the court moved the time up to 9 AM. I honestly assumed that the motion would go through just fine since it all seemed really cut and dry. But then I checked the docket today and it’s been DENIED. No explanation, of course. Just that it’s denied.
I’m hoping that it’s some kind of technical glitch, like they misspelled something or didn’t get the notice about the change of time for the hearing. Otherwise, I’m a bit stumped as to why it would be denied.
Remember, the plan was that within 30 days of the court approving the motion, those who lost money would receive correspondence from the Receiver about how much their claim is and what to do next. Then, anyone disputing the claims would be allowed to and after all the claims were settled, then the payouts would commence.
So, this is a wrench. Hopefully a little one.