Who is holding up pmt of Grifco class action claim funds?
I am one of those who will receive the $10.00 minimum distribution, but for those who invested heavily in Grifco, I hope the hold up is not something like what happened with the Stanford Financial Receivership funds [see below].
Good luck to all of you who post or lurk on this board. I will go back to lurking, MLD38
see Stanford Financial Receivership & ... District Court imposed contempt sanctions against Trustmark based on Trustmark's failure to timely abide by District Court's turnover order...
Aug 13, 2013, SEC & Ponzi schemes : http://www.reuters.com/article/2013/08/13/us-sec-stanford-lawsuit-idUSBRE97C0O820130813 SEC wins dismissal of lawsuit over handling of $7 billion Stanford fraud ... Earlier this year [2013], federal appeals courts in New York and California dismissed lawsuits against the SEC by victims of Bernard Madoff's fraud.... The SEC filed civil charges against Stanford in February 2009, two months after the multibillion-dollar Ponzi scheme of New York-based swindler Bernard Madoff was uncovered.
Fifth Circuit Court of Appeals Affirms Order Requiring Trustmark National Bank to Turn Over Stanford Receivership Funds to Receiver. ...On January 8, 2014, the U.S. Court of Appeals for the Fifth Circuit affirmed an order of the United States District Court for the Northern District of Texas that required Trustmark National Bank to turn over approximately $2.1 million in Stanford Receivership funds to the Receiver. The District Court had also imposed contempt sanctions against Trustmark based on Trustmark’s failure to timely abide by the District Court’s turnover order. Trustmark appealed both the turnover order and the contempt order. In a per curiam opinion, the Court of Appeals rejected all of Trustmark’s challenges and affirmed the District Court’s orders...
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