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Welcome to the Retirement Value LLC, Receivership website. This website was established to facilitate the dissemination of information regarding the status of the case as well as our efforts to recover assets for the investors’ benefit.

Status of the Proposed Plan of Distribution


On April 9, 2012, the Court held a hearing to consider recommendations for a Plan of Distribution.

  The Receiver, joined by counsel for The State of Texas and counsel for the Hill Country Funding Receiver, repeated his recommendation of the Vida Plan;
  Michael Beste, through his counsel, endorsed the Clearview Plan; and
  Certain interveners expressed a preference towards the wait-and-see or "hold" strategy (akin to the original plan recommended by the Receiver in April 2011).
  The Vida Plan, the Beste Plan and my original plan are available at www.rvllcreceivership.com

Steve Nasser’s testimony, supporting the Clearview Plan, will be submitted by deposition, which is scheduled for 4/20/12. The Court is not expected to rule on a plan until after the submission of Mr. Nasser’s testimony.

New Proposed Plan of Distribution


The Receiver has filed a new plan of distribution that calls for the estate to make a $20 million investment in the Vida Life Fund, LP. Under the proposed Plan, the Receiver will be able to make a distribution of approximately $14 million. He projects that the investment in the Fund will pay between $65.5 million and $72.5 million if held for ten years and between $76.7 million and $85.8 million if held for twenty years. The Plan reduces the time necessary to refund the investors money by approximately ten years against holding the portfolio to maturity. Not only is the investment in the Fund likely to result in quicker payment but it is also less risky than holding the policies. The Plan is discussed in the Receiver's December 31, 2011 Report.

1/03/2012 Receivers Proposed Plan of Distribution
12/31/2011 Receivers December 31 2011 Report

Recent Events
4/09/2012
The Court heard recommendations for a plan of distribution, including (i) the Receiver’s, Hill Country Funding receiver’s and the State of Texas’ recommendation of the Vida Plan; (ii) Mr. Beste’s recommendation of the Clearview Plan; and (iii) certain Interveners preference of the hold strategy;
3/28/2012
The Court denied certain Third Party Defendants Emergency Motion to Stay, certain Third Party Defendants Motion for Continuance, the Receiver’s Motion For Partial Summary Judgment Against Certain Licensee Defendants.
2/14/2012
The Court denied the States and Receiver’s Motions for Partial Summary Judgment.
2/01/2012
The Court denied certain Defendants Motions to Compel Arbitrations. The Court also entered an Order adopting the Agreed Discovery Plan. The Agreed Discovery Plan reflects certain deadlines associated with the case’s progression.
1/17/2012
The Court approved settlements between the Receiver and 20 licensees, representing over $200,000 in recoveries for the estate.
1/07/2012
The Court Ordered certain hearings set for: January 17, 2012; February 1, 2012; February 14, 2012; March 28, 2012; and April 9,
12/07/2011
The Court granted the motions for summary judgment filed by the State and the Receiver against Wendy Rogers. In so doing, Judge Triana held that the RSLIP investment product issued by Retirement Value is a security for purposes of the Texas Securities Act.
11/22/2011

The Court approved the settlement between the Receiver and Dick Gray. Pursuant to court order, the proceeds of the settlement will be shared with the HCF Receiver – the Receiver will receive real property worth approximately $600,000 and the HCF Receiver will receive a certificate of deposit worth approximately $50,000.

The Receiver and the HCF Receiver have agreed to work together to pursue claims against persons who may be liable to both estates and to share any recoveries 90% to the Receiver and 10% to the HCF Receiver.

11/03/2011
The Court set a hearing and deadlines for the consideration of a plan of distribution. The schedule is set out at the top of this page.
9/27/2011
The Bankruptcy Court suspended the involuntary bankruptcy, which means that the receivership will continue in the State Court before Judge Triana.
8/12/2011
A group of Retirement Value investors filed an involuntary bankruptcy of Retirement Value, in the Federal Bankruptcy Court for the Northern District of Texas.
On the Case Information page you can find copies of selected court documents from the State’s case against Retirement Value and its principals as well as the various suits brought by the Receiver against parties accused of wrongdoing against Retirement Value or its estate. The website also contains information regarding the Receiver, communications with investors, Frequently Asked Questions, and other helpful information