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.
Schedule
for Proposed Plan of Distribution
On November
3, 2011, the Court held a status conference hearing during
which the Court set the following deadlines and hearing
on the plan of distribution:
| a. |
The
Retirement Value Receiver shall file a plan of distribution
by January 3, 2012. |
| b. |
Alternate
plan(s) of distribution shall be filed by January
17, 2012. |
| c. |
Objections
to plan(s) of distribution shall be filed by February
21, 2012. |
| d. |
Hearing
on the plan(s) of distribution will be held on April
9, 2012 at 9:00 a.m. Case Summary. |
If you wish
to propose a plan of distribution or have a suggestion
regarding a plan to be proposed by the Receiver, we encourage
you to contact us prior to January 3, 2012. While there
is no requirement that you submit a proposed plan to the
Receiver before filing it on January 17, we would appreciate
the opportunity to review any proposed plans before making
our recommendation.
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.
