Receiver’s 13th Report

Lucky Thirteen!  I guess.

The Receiver has settled with 333 Net Winners and has managed to recover almost $38 million. There are 217 letters to Net Winners still outstanding.  The fund balance at the end of September sat at about $34 million.

There are only 129 ATMs left in operation, with the monthly income is now down to around $11k per month on average. I wonder how much longer they’ll keep it running before it’s not worth the scrap metal the outdated machines have become.

As of the November 28th, the global mediation with CNB is still ongoing. Also, there is now another class-action, filed on September 30th, for investors outside the State of California.  The case number is 1:17-cv-07463.  At least this one is on Pacer, so I’ll get that up in a few days along with updates on the other dockets in the library.

These reports are becoming increasingly boring in contrast to the first few which were full of juicy goodies.  Once the Receiver gets a plan approved then it won’t seem like more of the same.



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