Before the Receiver can make a distribution to investors or creditors of the Receivership Defendants:

• The Court must make a determination of liability (or the parties may agree to such liability) and must authorize the making of distributions from the Receivership Defendants’ assets.


• Sufficient assets must be available for distribution, reserving for (a) the costs of the administration of the Receivership, (b) any penalties or fines imposed by the SEC and (c) other contingencies.


• A roster of reconciled claims and amounts owed to each creditor / investor must be prepared.

The Receiver cannot estimate how long this process will take at this time.

If you have not already received a letter from the Receiver dated September 16, 2019, please contact us using the Contact Us tab with your current contact information.  

• The Receiver will periodically post important updates in the Litigation as well as other material information on this website or by letter notice to you.
  
  
• We encourage parties in interest to visit this website and check for updates periodically.
  
  
• At some point in the future, you will be required to complete a claim form (the “Claim Form”) stating the amount owed to you by the Receivership Defendants. There will be a deadline set by which such forms must be submitted.
  
  
• In due course, the Receiver will post the Claim Form and any deadlines on this website and will provide other notification as directed by the Court. This information is not yet available.
  
  
• Further, in order to assist with his investigation of the assets of the Receivership Estate, the Receiver requests that each investor preserve any and all documents (whether electronic or on a paper writing) related to your investment, including the following:
  
  
  • Records evidencing your investment;
    
    
  • Records evidencing any payment(s) you received from the Receivership Defendants;
    
    
  • Account statement(s); and/ or
    
    
  • Communications with the Receivership Defendants or any of their respective officers, directors, partners, shareholders, owners, employees, agents, attorneys, financial advisors or other professionals.

During the Litigation, a Claim Form will be mailed to all investors (and creditors). The Claim Form, when published, will be very detailed and contain instructions.  It will provide for separate categories for (a) unpaid principal, (b) pre-Receivership accrued (but unpaid) interest and (c) post-Receivership accrued interest.  

• Please continue to monitor this website and check for further notices regarding updates regarding the claims process.
  
  
• In the event there is a discrepancy in the values of your claim to our records we will contact you directly.

Please see the response to the prior question. Additionally,   

• Information on accrued interest will be collected as part of the claim process.
  
  
• How accrued interest will ultimately be treated will be addressed in the plan of distribution that the Receiver is required to file with the Court.
  
  
• The terms of the plan of distribution will be developed after all information is collected and investigations completed. Investor input on the terms of the plan of distribution may be solicited broadly and in any event the plan of distribution will require notice and Court approval.
  

Presently, no.   

• The Receivership Defendants only include the Northridge Entities and related, corporate entities.  Assets of the Receivership Estate do not presently include personal assets of Glenn C. Mueller.
  
  
• The SEC has filed suit against Glenn C. Mueller (and the Northridge Entities) and has stated in its pleadings it will be seeking significant damages.
  
  
• During the investigative phase of the Receivership, the Receiver will be investigating whether he has claims against Glenn C. Mueller.
  
  
• The SEC, however, has frozen certain personal assets of Glenn C. Mueller.