Some MF customers have received their Determination of Claim and Release from the Trustee's office. Customers will continue to receive these determinations as the Trustee issues them. The determination lists the total amount of your claim which the Trustee is allowing, the amount already distributed to you and the remaining amount allowed. The determination notes that each customer will receive a separate claim determination for each of three account classes: futures accounts (4d funds), foreign futures accounts (30.7 funds) and assets held in delivery accounts (specifically identifiable property). If a shortfall persists in any particular account class, customers shall receive a ratable share of the amount of the allowed claim in that account class.
You have a right to object to this determination. You must do so in writing within 30 days of the date of the determination to the Clerk of the SDNY bankruptcy court. If you have engaged counsel, your counsel may file electronically. If you have not, you will likely have to file by mail, sending a full copy to both the Clerk of the SDNY court and the offices of Hughes, Hubbard and Reed LLP. The objection process will involve the Trustee taking action to resolve the dispute. This may include requesting a status conference and setting hearing with the bankruptcy court. If a hearing is set, you must appear personally or through counsel of the court will confirm the Trustee's determination of your claim.
If you agree with the Trustee's determination, you will have to return a signed and notarized copy of the enclosed Release via US mail to the address provided. Carefully read the release before signing it. Please note that the Trustee will refuse to make additional distributions of the amount allowed to you unless you sign the Release.