Post-Confirm Status Report, dated October 15, 2008 (PDF)

Notice to Voucher Holders (02/26/2008)

Dear Voucher Holders:

The Debtor has informed us that the first initial distribution is expected to be mailed to allowed creditors on March 3, 2008.  The payment will be in the pro rata amount of approximately 1.5% of the face amount of your voucher, which means that each voucher holder that (1) previously granted the Solicitor Trustee Release when voting on the plan; or (2) that did not vote on the plan, will receive approximately 1.5% of their allowed claim. Eventually a second distribution will be issued once the lawsuits that have been, or will be, brought against other people who ran the voucher program have been concluded. 

Please remember that by cashing the check, you are granting a release to the Solicitor Trustees.  The Solicitor Trustees are two individuals in England who were involved in the operation of the voucher program who agreed to pay the estate $3.2 million to settle the claims against them.

The release means you are forever waiving your right to personally sue them.  Holders of cashable vouchers who did not grant a release of the Solicitor Trustees when voting on the plan will not be receiving any distribution at this time. 

If for some reason you have not received a check by March 31, 2008, please contact this website so we can attempt to resolve the issue.

The Debtor has also asked us to let you know that, it is possible that, due to similarities in names or through an error, you may receive an extra distribution.  If this is the case (for example, if you only hold one Cashable Voucher but receive two checks), you should return the additional check to Katten Muchin Rosenman LLP at the address indicated on the check.  It is unlawful to knowingly accept a greater distribution from a debtor in bankruptcy than you are legally entitled to receive.

(01/11/08)

Second Omnibus Objection to Claims
Motion - Exhibit A - Exhibit B - Exhibit C - Exhibit D

Third Omnibus Objection to Claims
Motion - Exhibit A - Exhibit B - Exhibit C - Exhibit D - Exhibit E

On October 24, 2007, the Bankruptcy Court confirmed the Second Amended Joint Plan of Liquidation.  There were no formal objections to the Plan; the Debtor received 18,013 effective ballots and 17,891 (99.32%) of those votes were in support of the confirmation of the Plan.  The confirmation of the Plan means that the Debtor will shortly issue the first initial distribution to allowed voucher holders.  A copy of the order is attached below.

Canadian Order
Conformed Order Confirming Plan

On August 15, 2007, the Bankruptcy Court approved the Abbreviated Disclosure Statement, which is the document that explains how and when we expect to pay the voucher holders through a Plan. The Plan sets forth how much money is available and how much each class of creditors will receive. The Abbreviated Disclosure Statement was mailed to you by September 4, 2007, along with a ballot to vote on the Plan and a letter from the Committee urging you to vote to approve the Plan.  Please complete the ballot that was mailed to you and return it in the attached self addressed envelope.

Motion to Approve Disclosure Statement

Exhibit A - Motion to Approve Disclosure Statement

Exhibit B - Motion to Approve Disclosure Statement

Notice of Hearing on Adequacy of Disclosure Statement and Abbreviated Disclosure Statement and Plan

Disclosure Statement

Abbreviated Disclosure Statement and Plan Summary

Motion to Approve Settlement with Solicitor Trustees - (03/31/07)

Notice of Settlement

Motion

Settlement Agreement - Exhibit "A"

Proposed Order

COMMITTEE'S THIRD REPORT TO THE UNSECURED CREDITORS - NEW DOCUMENT (05/07/07)

Bankruptcy Court Approves Settlement...go to report.

COMMITTEE'S SECOND REPORT TO THE UNSECURED CREDITORS - (04/17/07)
We are the legal advisors to the Official Committee of Unsecured Creditors of The Consumers Trust (the ?Committee?). As part of the bankruptcy process, the committee was formed act on behalf of all unsecured creditors as a group by monitoring the activities of the The Consumers Trust (the ?Debtor?) and joining in, supporting or opposing the Debtor?s actions in the case as necessary. The eleven members of the Committee are voucher holders, selected by the Office of the United States Trustee from among the largest voucher holders, who agreed to serve on the Committee...go to report

COMMITTEE REPORT TO THE UNSECURED CREDITORS - (12/19/06)

Executive Summary

The purpose of this report is to provide an update regarding the efforts of the Official

Committee of Unsecured Creditors (the ?Committee?) of The Consumers Trust (the ?Debtor?) to

all unsecured creditors regarding the two primary areas of current activity in the cases, namely:

(i) the investigation of the Debtor?s program, and (ii) asset recovery...more Report information