Stanford Receivership – Final Distribution Plan – Request for Clarification on Payment Methods (Check vs. Wire Transfer) and Unanswered Inquiry re: $8.1 Million Swiss Funds
Stanford Receivership – Final Distribution Plan – Request for Clarification on Payment Methods (Check vs. Wire Transfer) and Unanswered Inquiry re: $8.1 Million Swiss Funds
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April 7, 2026
VIA EMAIL
To:
Gilardi & Co. LLC
Claims Agent for the Stanford Receivership
info@stanfordfinancialclaims.
Ralph S. Janvey, Receiver
Receiver's Attorneys: Kevin Sadler, David Arlington, Brendan Day
c.c. John Little, Examiner
President of OSIC (Official Stanford Investors Committee): Ed Snyder, Judith Blakeway.
Re: Stanford Receivership – Final Distribution Plan – Request for Clarification on Payment Methods (Check vs. Wire Transfer) and Unanswered Inquiry re: $8.1 Million Swiss Funds
Dear Sirs,
I write on behalf of COViSAL and numerous other claimants who are confused and concerned about the lack of clear information regarding how payments under the Final Distribution Plan are being issued.
According to the Receiver’s update posted on April 6, 2026, payments under the Final Distribution Plan began on April 3, 2026. However, the Receiver has not specified publicly whether these payments are being sent via physical check or wire transfer.
This lack of clarity creates serious practical problems for claimants, including:
1. Claimants do not know where to look for their payment (bank account vs. physical mailbox).
2. Claimants cannot determine the issuance date of a check if one was sent, yet the 90‑day deadline to cash or request reissuance runs from that unknown date.
3. Claimants who have previously received wire transfers do not know whether to expect the same method this time, especially because the Final Distribution Plan legal document appears to reference checks as the default method.
To help claimants avoid losing their right to payment, I respectfully request that you clarify the following:
A. What method(s) of payment are being used for the Final Distribution Plan payments that began on April 3, 2026?
· Are some claimants receiving wire transfers?
· Are others receiving physical checks?
· If both methods are being used, what criteria determine which claimants receive which method?
B. For claimants receiving physical checks:
· Will the Receiver or Gilardi provide individual notice of the check issuance date (the date from which the 90‑day deadline runs)?
· Will claimants receive tracking numbers for checks sent by courier (including to Venezuela, where courier service has recently resumed)?
C. For claimants who have previously received wire transfers in prior distributions:
· Should they expect to receive a wire transfer again under the Final Distribution Plan, or should they anticipate a physical check?
D. What should a claimant do if they do not receive their payment (wire or check) within a reasonable time, and cannot determine the issuance date of an alleged check?
E. Additionally, I wish to note that COViSAL sent a formal written request to the Receiver and his attorneys on March 11, 2026, titled: "SECOND REQUEST: Status of $8.1 Million Swiss Funds (Stanford Receivership)."
To date, the Receiver and his legal team have not responded to that request. That letter asked, among other things, whether and when the $8.1 million in Swiss assets (released to the Receiver on December 17, 2025) will be distributed, and whether those funds will be included in a future distribution separate from the current Final Distribution Plan. The lack of any response is concerning to claimants who are trying to understand the full scope of remaining assets.
I respectfully request that you also address the status of the $8.1 million Swiss funds and provide a timeline for their distribution, or confirm that they will be addressed separately.
I understand that the Receiver has broad discretion to implement the Final Distribution Plan. However, the current lack of transparency regarding payment methods, combined with the unanswered inquiry about the Swiss funds, creates a real risk that diligent claimants will lose their funds or remain uninformed about assets that rightfully belong to them.
On behalf of COViSAL and the claimant community, I would greatly appreciate a written response clarifying these points so that we can share accurate information with all affected parties.
Thank you for your attention to this matter. We look forward to your prompt reply.
Sincerely,
Jaime R. Escalona