The Zeek Rewards Receiver has offered an replace on final partial distribution funds.
In his April twentieth replace, the Receiver states:
On Friday, April 17, I made a fourth partial interim distribution to affiliate-investors holding allowed claims.
The Receiver Crew mailed over 122,000 checks for a complete distribution of roughly $28 million.
A few of you will have already obtained your checks, and others needs to be receiving them within the coming days.
A restricted variety of non-U.S. claimants opting to obtain wire transfers as a substitute of checks didn’t obtain a partial interim distribution.
Due to logistical challenges and value efficiencies, these funds will likely be offered together with the ultimate distribution on the shut of the Receivership.
On the time of publication there isn’t a timeline for the Receivership closing.
As I perceive it the VictoriaBank saga remains to be enjoying out, after which the Receivership will wind down.
Zeek Rewards’ Receivership is a serious win for victims. Because it stands the Receivership has returned 81% to victims with legitimate claims.
That share will enhance additional pending last distribution funds.
How the Zeek Rewards receivership has been dealt with stands in stark distinction to the TelexFree Trusteeship.
TelexFree was shut down roughly two years after Zeek Rewards, six and eight years in the past respectively.
Since wrapping up the TelexFree declare portal 4 years in the past, the Trusteeship has devolved into unexplained delays, seemingly no accountability and 0 communication with victims.
TelexFree’s Trusteeship is headed up by Stephen B. Darr, a Senior Managing Director with Huron Consulting Group.