FOR IMMEDIATE RELEASE
Joint Statement of the U.S. Receiver (Ralph Janvey), the Joint Liquidators (Marcus Wide and Hugh Dickson), and the U.S. Examiner (John Little)
Agreement reached in principle
ANTIGUA-December 5, 2012-- After extensive negotiations, and with the input of United States DOJ
and SEC representatives, the U.S. Receiver (Ralph Janvey), the Joint
Liquidators (Marcus Wide and Hugh Dickson), and the U.S. Examiner (John Little)
have reached an agreement, in principle, that, if finalized and approved by the
relevant authorities, would result in (a) coordination between the U.S.
Receiver and the Joint Liquidators concerning their respective claim processes,
(b) increased sharing of information, (c) cooperation with respect to the asset
recovery and some of the other litigation efforts, (d) a resolution of pending
disputes concerning funds now frozen in the United Kingdom, Canada and
Switzerland, and (e) a release of funds for distribution to Stanford's
investor-victims.
We are working on
finalizing a definitive settlement agreement, which we hope to be able to
present in the near future for public comment and court approval. To facilitate
their discussions, all of the participants have agreed to keep these
negotiations confidential until definitive agreement is reached or the parties
conclude that no agreement will be possible.
The U.S. Receiver, the Joint Liquidators and the U.S. Examiner have
agreed to release this statement so that Stanford victims know that the various
participants are continuing to work to reach an agreement that will achieve the
goals set forth above. We continue to
have your interests at the forefront and we understand the very difficult
circumstances you face as victims.
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FOR MORE INFORMATION
CONTACT:
Elizabeth C. Ortega /
ECO Strategic Communications
305.213.8798 / eco@ecostrats.com
