BANKRUPTCY COURT APPROVES TRUSTEE’S MOTION FOR AUTHORITY TO ENTER INTO SETTLEMENT AGREEMENT

On January 8, 2019 the Bankruptcy Court heard argument and evidence with regard to the Trustee’s Motion for Authority to Enter into a Global Settlement Agreement as well as the Responses and Objection thereto.  The Court announced its approval of the Settlement at the hearing.  Once a written court order approving the Settlement Motion is entered, we will post it here.   The period to appeal that order will be 14 days from and after the date the written order is entered.  The Settlement requires the consent of the S.E.C.;  the S.E.C. representative announced in Court that it cannot obtain consent from the Commission until after the U.S. Government has reopened.    The process of serving Releases of Diane Siskey and her children as well as  the MetLife entities to investors pursuant to the Settlement Agreement and making distributions pursuant to the Settlement Agreement will begin after the appeal period has run (assuming there are no appeals) and after the S.E.C. has issued a consent to the Settlement.

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