Within the lately filed Standing Report for the Second Quarter of 2018, the Zeek Receiver has revealed $169 million has been awarded in net-winner judgments.
The judgments had been awarded in opposition to Zeek Rewards net-winners who refused to settle.
Somewhat than accumulate judgments individually from net-winners, as an alternative the Zeek Receivership is getting ready to promote them to debt collectors.
All through the second quarter of 2018, some 2508 net-winners settled with the Receiver for $18 million. As of June thirtieth, $12 million has been collected with $4.2 million excellent.
A few of Zeek’s high net-winners are nonetheless combating clawback, having taken their case to the Fourth Circuit appeals court docket.
As per the Receiver’s report;
Through the second quarter, the Receiver’s counsel analyzed the Appellants’ transient and labored to arrange the Receiver’s transient.
We don’t anticipate this attraction with have a fabric affect on the Receivership Property.
With respect to offshore net-winners, the Receiver is investigating enforcement choices for a $160,000 judgment in opposition to a German net-winner.
The Receiver continued to evaluate the prices and advantages of pursuing sure international defendants and made calculated selections to discontinue additional efforts to implement international judgments in international locations aside from Germany and Canada.
Duties remaining to be full by the Zeek Receivership embody seeing out the net-winner attraction, processing net-winner clawback funds, promoting off net-winner judgments and securing $13.5 million in stolen investor funds from Payza, Cost World and VictoriaBank.
On the conclusion of the Receivership, a ultimate distribution cost shall be made to Zeek Rewards victims with an permitted declare.