Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Let's save any rejoicing until we get 100% (plus) recovery of our claims.
As I said, I advise NOT selling your claim. Instead, hang on to see what happens in the class action law suits. The claims buying companies are active in those suits on our side, along with other claims holders.
But if you want to find the firms buying claims, look at pfgchapter7.com under Court Docket, and look at the docket items titled "Transfer of Claim." You will see that many many people are selling their claims.
By the way, the next (and maybe last large) distribution from the Trustee is expected this summer, and will be about an additional 20% - 25% according to estimates, bringing the total recovery to about 50% - 55% so far (in view of the prior 30% distribution).
After that it will be mainly up to the class action law suits to try to get money from additional defendants (such as Auditors and Banks).
The numbers are clear from various filings by the Trustee on the pfgchapter7.com site in the Court Docket. I read all the filings. That is why the claim buying companies are offering another 20% (on top of the prior 30%) - because it is clear that there will be over 50% total recovery.
Some of the Trustee's summaries and motions and reports have spreadsheets showing cash available for distribution in various classes.
There would have been a bit more money still available except that they have decided to give the forex customers close to 100% on their claims on the reasoning that the money was stolen from the commodity accounts,not from the forex accounts. That leaves a bit less for commodity futures accounts.
Oh and to correct one thing I may have said wrong, the class that already stands to recover close to 100% is holders of accounts designated to trade futures on foreign exchanges (not forex traders, who may recover nothing).