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On February 16, 2009, the United States District Court (the "Court") for the Northern District of Texas, Dallas Division, signed an order appointing a Receiver (the "U.S. Receiver") for all the assets and records of Stanford International Bank, Ltd., Stanford Group Company, Stanford Capital Management, LLC, R. Allen Stanford, James M. Davis and Laura Pendergest-Holt and of all entities they own or control. The February 16 order, as amended March 12, 2009 and again on July 19, 2010, directs the Receiver to, among other things, take control and possession of and to operate the Receivership Estate, and to perform all acts necessary to conserve, hold, manage and preserve the value of the Receivership Estate. To view a copy of the Receivership Order, as amended, please click here.

In furtherance of his duties under the Court's order, the U.S. Receiver filed an Amended Motion To Establish Bar Date for Claims and Procedures for Submitting Proofs of Claim. On May 4, 2012, the Court entered an order approving the Receiver's claims process motion. Pursuant to the Court’s Order, the deadline, or “Bar Date”, for filing a Proof of Claim Form is 11:59 p.m. (prevailing Central Time) on September 1, 2012. To view a copy of the Court's order, please click here. Gilardi & Co. LLC has been retained by the U.S. Receiver to act as its Claims Agent in connection with this matter and is assisting the U.S. Receiver with the claims process.

On May 30, 2013, the Court approved the Receiver’s 1st Interim Distribution Plan. A copy of the order approving the 1st Interim Distribution Plan may be found here. On July 2, 2014, the Court approved the Receiver’s 2nd Interim Distribution Plan. A copy of the order approving the 2nd Interim Distribution Plan may be found here. On March 22, 2016, the Court approved the Receiver’s 3rd Interim Distribution Plan. A copy of the order approving the 3rd Interim Distribution Plan may be found here. For further information concerning the 1st, 2nd, and 3rd Interim Distribution Plans, please click here to view the FAQs under the section entitled “Certification Forms and Distribution.” The Receiver is continuing his efforts to collect additional funds, including funds outside the United States that have been identified and frozen by law enforcement authorities. THE RECEIVER ANTICIPATES MAKING ADDITIONAL DISTRIBUTIONS IN THE FUTURE. The number and size of those distributions will be determined at a later date. The Receiver will also determine at a later date whether to recommend including in future distributions any of the creditors excluded from the 1st, 2nd, and 3rd Interim Distributions.

The U.S. Receiver intends to communicate updated information regarding the claims process through this website. Please check back periodically for additional information.

Receiver and Official Stanford Investors Committee Announce Settlements and Seek Court Approval

Partial Settlement with Attorneys and Directors of Stanford Trust Company.

On May 12, 2015, the Receiver and the Official Stanford Investors Committee filed a Motion seeking Court approval of a settlement entered into with Adams & Reese, LLP, Breazeale, Sachse & Wilson, LLP, Robert C. Schmidt, James R. Austin, Cordell Haymon and Lynette Frazier, both individually and as the independent executrix of the Estate of Thomas L. Frazer. Pursuant to the terms of the settlement, the settling defendants will pay over to the Receivership Estate approximately $4.9 million. The Court has set a hearing on the Motion to Approve the settlement for Friday, July 31, 2015, at 10:00 am. Any party wishing to file an objection to the settlement must do so no later than Friday, July 10, 2015, and must do so in accordance with the requirements established by the Court in its Scheduling Order.

You may access the materials pertaining to this settlement by clicking on the links below:

Settlement Agreement, click HERE.

Notice of Settlement and Bar Order Proceedings, click HERE.

Scheduling Order, click HERE.

Motion to Approve Settlement Agreement (Expedited Request for Entry of Scheduling Order and Motion to Approve Proposed Settlement with Adams & Reese Parties, Breazeale, Sachse & Wilson, LLP, Cordell Haymon and Lynette Frazier, Bar Order, Notice and Attorneys’ Fees), click HERE.

Appendix in Support of Motion to Approve Settlement Agreement, click HERE.

Settlement with BDO USA, LLP and related entities.

On May 15, 2015, the Receiver and the Official Stanford Investors Committee filed a Motion seeking Court approval of a settlement entered into with BDO USA, LLP and related BDO entities. Pursuant to the terms of the settlement, BDO USA, LLP, will pay over to the Receivership Estate $40.0 million. The Court has set a hearing on the Motion to Approve the settlement for Friday, August 28, 2015, at 10:00 am. Any party wishing to file an objection to the settlement must do so no later than Friday, August 7, 2015, and must do so in accordance with the requirements established by the Court in its Scheduling Order.

You may access the materials pertaining to this settlement by clicking on the links below:

Settlement Agreement, click HERE.

Notice of Settlement and Bar Order Proceedings, click HERE.

Scheduling Order, click HERE.

Motion to Approve Settlement Agreement (Expedited Request for Entry of Scheduling Order and Motion to Approve Proposed Settlement with BDO USA, LLP to Approve the Proposed Notice of Settlement with BDO USA, LLP, to Enter the Bar Order, to Enter the Final Judgment and Bar Order, and for Plaintiffs’ Attorneys’ Fees), click HERE.

Appendix in Support of Motion to Approve Settlement Agreement, click HERE.

SPECIAL NOTICE FOR STANFORD INTERNATIONAL BANK CD INVESTORS WHO HAVE NOT ALREADY FILED A CLAIM.

The terms of the BDO Settlement also provide Stanford International Bank CD Investors who have not yet filed a claim with the Receiver or the Antiguan Joint Liquidators with an additional opportunity to file a claim with the Receiver. IF YOU HAVE ALREADY FILED A CLAIM WITH THE RECEIVER OR JOINT LIQUIDATORS, THIS DOES NOT APPLY TO YOU. Stanford Investors who have not yet filed a claim with the Receiver or the Antiguan Joint Liquidators may file a claim with the Receiver by completing and filing a Proof of Claim on or before August 5, 2015. You may obtain a Proof of Claim form, in English, HERE, in Spanish, HERE.

IF YOU HAVE ALREADY FILED A CLAIM WITH THE RECEIVER, YOU DO NOT NEED TO FILE ANOTHER ONE.

Receiver and Official Stanford Investors Committee Announce Settlement with Kroll and Seek Court Approval

On March 7, 2016, the Receiver and the Official Stanford Investors Committee filed a Motion seeking Court Approval of a settlement entered into with Kroll, LLC (f/k/a Kroll, Inc.) and Kroll Associates, Inc. (collectively, “Kroll”). Pursuant to the terms of the settlement, the Receivership Estate will receive $24.0 million. On March 23, 2016, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Settlement and establishing a scheduling for the submission of objections.

The Court has set a hearing on the Motion to Approve the Settlement for Friday, July 8, 2016 at 10:00 am. Any party wishing to file an objection to the settlement must do so no later than Wednesday, May 18, 2016, and must do so in accordance with the requirements established by the Court in its Scheduling Order.

You may access the materials pertaining to the Kroll settlement by clicking on the links below:

Scheduling Order, click HERE for English and HERE for Spanish. Click HERE for the Exhibits to the Scheduling Order (English only).

Settlement Agreement, click HERE for English and HERE for Spanish.

Notice of Settlement and Bar Order Proceedings, click HERE for English and HERE for Spanish.

Publication Notice, click HERE for English and HERE for Spanish.

Proposed Bar Order and Judgment, click HERE for English and HERE for Spanish.

Proposed Antiguan Court Orders, click HERE for English and HERE for Spanish.

Kroll Settlement FAQs:

Q: Why did the Plaintiffs settle for $24 million?

A: The reasons for the amount of the settlement are discussed at length in the Motion to Approve the Settlement, the Application for Attorneys’ Fees, and the Declarations included in the Appendix to the Application. You can review the Motion to Approve the Settlement by clicking HERE (English only). You can review the Appendix in support of the Motion to Approve Settlement by clicking HERE (English only). You can review the Application for Attorneys’ Fees by clicking HERE (English only). You can review the Appendix to the Application for Attorneys’ Fees by clicking HERE (English only).

Q: How was the amount to be paid to the Plaintiffs’ attorneys determined?

A: The Plaintiffs’ attorneys entered into agreements that set their fee at 25% of the Net Recovery obtained. The agreements also provided that the Plaintiffs’ attorneys would not be paid if they were not successful.

Q: If approved, which Stanford investors will be entitled to distributions from the Kroll settlement?

A: Proceeds from the Kroll Settlement will be distributed on a pro rata basis to all Stanford investors who (a) have Allowed Claim Amounts determined by the Receiver’s claim and distribution process, and (b) have submitted a completed Certification Notice to the Receiver (as required by the Court’s Order approving the Receiver’s First Interim Distribution).

Q: How do I object to the Kroll Settlement or its terms?

A: Any objection to the Kroll Settlement or its terms, the Motion to Approve the Settlement, or the Judgment and Bar Order must be filed in writing, with the Court in the SEC Action no later than May 18, 2016. Any objections not filed by that date will be deemed waived and will not be considered by the Court. Those wishing to appear and present objections at the Final Approval Hearing must include a request to appear in their written objections. Please refer to the motion for additional instructions.

Q: When will the Court make a final determination on the Motion to Approve the Settlement?

A: The Final Approval Hearing is set for July 8, 2016. The Court will issue its decision at the hearing or some point thereafter.

Q: If the Court approves the motion, when can I expect my distribution payment?

A: The Kroll Settlement contemplates that the Receiver will file a Motion for approval of a distribution plan after the Court approves the settlement. The timing of the Court’s approval and any subsequent distribution has yet to be determined. As additional information becomes available, the Receiver and Examiner will post updates to the Stanford Financial Group Receivership websites and on the Examiner’s website.

Q: I have already filed a Proof of Claim form with the U.S. Receiver. Do I need to file another Proof of Claim form to be considered in the Kroll Distribution Plan?

A: If you have already filed a Proof of Claim form with the U.S. Receiver, you DO NOT need to file another form. There is no further action required by you at this time.

Q: I have not received a Notice of Determination with my claim number. How can I be sure you received my Proof of Claim Form?

A: You should contact the Receiver’s Claims Agent to request your claim number: (i) by email at info@stanfordfinancialclaims.com or (ii) by phone at 866-964-6301 or 317-324-0757.

Receiver and Official Stanford Investors Committee Announce Settlement with Chadbourne & Parke, LLP and Seek Court Approval

On April 20, 2016, the Receiver and the Official Stanford Investors Committee filed a Motion seeking Court Approval of a settlement entered into with Chadbourne & Parke, LLP (“Chadbourne”). Pursuant to the terms of the settlement, the Receivership Estate will receive $35.0 million. On May 10, 2016, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Settlement and establishing a scheduling for the submission of objections.

The Court has set a hearing on the Motion to Approve the Settlement for Friday, August 12, 2016 at 10:00 am. Any party wishing to file an objection to the settlement must do so no later than Friday, July 22, 2016, and must do so in accordance with the requirements established by the Court in its Scheduling Order.

You may access the materials pertaining to the Chadbourne settlement by clicking on the links below:

  • Scheduling Order, click HERE.
  • Motion to Approve the Settlement, click HERE.
  • Appendix in Support of the Motion to Approve the Settlement, including the Settlement Agreement itself and Exhibits A through G thereto, click HERE.
  • Notice of Settlement and Bar Order Proceedings (Exhibit A), click HERE (English) and HERE (Spanish) .
  • Publication Notice (Exhibit G), click HERE.

Chadbourne Settlement FAQs:

Q. Why did the Plaintiffs settle for $35 million?

A. The reasons for the amount of the settlement are discussed at length in the Motion to Approve the Settlement and the Declarations included in the Appendix to the Motion, all of which are hyperlinked above.

Q: How was the amount to be paid to the Plaintiffs’ attorneys determined?

A: The Plaintiffs’ attorneys entered into agreements that set their fee at 25% of the Net Recovery obtained. The agreements also provided that the Plaintiffs’ attorneys would not be paid if they were not successful.

Q: If approved, which Stanford investors will be entitled to distributions from the Chadbourne settlement?

A: Proceeds from the Chadbourne Settlement will be distributed on a pro rata basis to all Stanford investors who (a) have Allowed Claim Amounts determined by the Receiver’s claim and distribution process, and (b) have submitted a completed Certification Notice to the Receiver (as required by the Court’s Order approving the Receiver’s First Interim Distribution).

Q: How do I object to the Chadbourne Settlement or its terms?

A: Any objection to the Chadbourne Settlement or its terms, the Motion to Approve the Settlement, the Application for Attorneys’ Fees, or the Judgment and Bar Order must be filed in writing, with the Court in the SEC Action no later than July 22, 2016. Any objections not filed by that date will be deemed waived and will not be considered by the Court. Those wishing to appear and present objections at the Final Approval Hearing must include a request to appear in their written objections. Please refer to the Scheduling Order and the Notice of Settlement and Bar Order Proceedings (both of which are hyperlinked above) for additional instructions.

Q: When will the Court make a final determination on the Motion to Approve the Settlement?

A: The Final Approval Hearing is set for August 12, 2016 at 10:00 a.m. The Court will issue its decision at the hearing or some point thereafter.

Q: If the Court approves the motion, when can I expect my distribution payment?

A: The Chadbourne Settlement contemplates that the Receiver will file a Motion for approval of a distribution plan after the Court approves the settlement. The timing of the Court’s approval and any subsequent distribution has yet to be determined. As additional information becomes available, the Receiver and Examiner will post updates to the Stanford Financial Group Receivership websites and on the Examiner’s website.

Q: I have already filed a Proof of Claim form with the U.S. Receiver. Do I need to file another Proof of Claim form to be considered in the Chadbourne Distribution Plan?

A: If you have already filed a Proof of Claim form with the U.S. Receiver, you DO NOT need to file another form. There is no further action required by you at this time.

Q: I have not received a Notice of Determination with my claim number. How can I be sure you received my Proof of Claim Form?

A: You should contact the Receiver’s Claims Agent to request your claim number: (1) by email at info@stanfordfinancialclaims.com, or (2) by phone at 866-964-6301 or 317-324-0757. 

Receiver and Official Stanford Investors Committee Announce Settlement with Certain Underwriters at Lloyd’s of London, Lexington Insurance Company, and Arch Specialty Insurance Company and Seek Court Approval

On June 27, 2016, the Receiver and the Official Stanford Investors Committee filed a Motion seeking Court Approval of a settlement entered into with Certain Underwriters at Lloyd’s of London, Lexington Insurance Company, and Arch Specialty Insurance Company (collectively, “Underwriters”).  Pursuant to the terms of the settlement, the Receivership Estate will receive $65.0 million.  On July 11, 2016, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Settlement and establishing a schedule for the submission of objections.  On July 21, 2016, the Court reset the hearing date. 

The hearing on the Motion to Approve the Settlement is scheduled for Friday, October 28, 2016 at 10:00 am.  Any party wishing to file an objection to the settlement must do so no later than Friday, September 30, 2016, and must do so in accordance with the requirements established by the Court in its Scheduling Order.

You may access the materials pertaining to the Underwriters settlement by clicking on the links below:

  • Scheduling Order, click HERE.
  • Order Resetting Hearing on Motion to Approve Settlement, click HERE.
  • Motion to Approve the Settlement, click HERE.
  • Appendix in Support of the Motion to Approve the Settlement, including the Settlement Agreement itself and Exhibits and Amendment thereto, click HERE.
  • Settlement Agreement, including Exhibits and Amendment thereto, click HERE (Spanish).
  • Notice of Settlement and Bar Order Proceedings (Exhibit F), click HERE (English) and HERE (Spanish).
  • Publication Notice (Exhibit G), click HERE (English) and HERE (Spanish).

Underwriters Settlement FAQs:

Q.   Why did the Plaintiffs settle for $65 million?

A.  The reasons for the amount of the settlement are discussed at length in the Motion to Approve the Settlement and the Declarations included in the Appendix to the Motion, all of which are hyperlinked above.

Q:  How was the amount to be paid to the Plaintiffs’ attorneys determined?

A:  The Plaintiffs’ attorneys entered into agreements that set their fee at 33 1/3% of the Net Recovery obtained.  The agreements also provided that the Plaintiffs’ attorneys would not be paid if they were not successful.  The Plaintiffs’ attorneys have agreed to significantly reduce their fee to 21.5% of the Net Recovery.

Q:  If approved, which Stanford investors will be entitled to distributions from the Underwriters settlement?

A:  Proceeds available for distribution from the Underwriters Settlement will be distributed on a pro rata basis to all Stanford investors who (a) have Allowed Claim Amounts determined by the Receiver’s claim and distribution process, and (b) have submitted a completed Certifications to the Receiver (as required by the Court’s Order approving the Receiver’s First Interim Distribution).  After the Court approves the Underwriters Settlement, the Receiver will file a motion proposing and asking the Court to approve a specific distribution plan for available proceeds from the Underwriters Settlement.

Q:  How do I object to the Underwriters Settlement or its terms?

A:  Any objection to the Underwriters Settlement or its terms, the Motion to Approve the Settlement, the Application for Attorneys’ Fees, the Bar Order, or the Judgment and Bar Order must be filed in writing, with the Court in the SEC Action no later than September 30, 2016.  Any objections not filed by that date will be deemed waived and will not be considered by the Court.  Those wishing to appear and present objections at the Final Approval Hearing must include a request to appear in their written objections.  Please refer to the Scheduling Order and the Notice of Settlement and Bar Order Proceedings (both of which are hyperlinked above) for additional instructions.

Q:  When will the Court make a final determination on the Motion to Approve the Settlement?

A:  The Final Approval Hearing is set for October 28, 2016 at 10:00 a.m.  The Court will issue its decision at the hearing or some point thereafter.

Q:  If the Court approves the motion, when can I expect my distribution payment?

A:  The Underwriters Settlement contemplates that the Receiver will file a Motion for approval of a distribution plan after the Court approves the settlement.  The timing of the Court’s approval and any subsequent distribution has yet to be determined.  As additional information becomes available, the Receiver and Examiner will post updates to the Stanford Financial Group Receivership websites and on the Examiner’s website.

Q:  I have already filed a Proof of Claim form with the U.S. Receiver.  Do I need to file another Proof of Claim form to be considered in the Underwriters Distribution Plan?

A:  If you have already filed a Proof of Claim form with the U.S. Receiver, you DO NOT need to file another Proof of Claim. 

Q:  I have not received a Notice of Determination with my claim number.  How can I be sure you received my Proof of Claim Form?

A:  You should contact the Receiver’s Claims Agent to request your claim number: (1) by email at info@stanfordfinancialclaims.com, or (2) by phone at 866-964-6301 or 317-324-0757.