COViSAL Guide for the 12th Distribution - Update: May 29, 2026
Dear friend,
This guide is updated constantly as new information arrives. Payments are in process, but this distribution has been irregular. Find your situation in the table below and follow the instructions that apply to you.
⚡ KEY FACT FROM THE DISTRIBUTION'S LEGAL DOCUMENT: All checks in the 12th Distribution are valid for only 90 days from their issuance date. Unlike the 11th distribution, where checks had 180 days, the time window now is much tighter.
📌 Find your situation quickly
| Your situation | Current status | Risk | What to do |
|---|---|---|---|
| US - Wire transfer | ✅ Arriving in batches. High amounts first, then low | Low | Check your account and SPAM |
| US - Check under $10,000 | ✅ Confirmed. Arrive via USPS First Class to your mailbox | Medium. Expire July 23 | Deposit immediately |
| US - Check over $10,000 | ❌ None have arrived yet | HIGH | Wait, but prepare contingency plan |
| International - Wire transfer | ✅ Confirmed in Spain (approx. $11,000) | Low | Check your account and SPAM |
| International - Check | ❌ None have arrived yet | HIGH | Read instructions below |
⚠️ The crucial problems (updated May 30)
1. Checks are valid for only 90 days (not 180 days like in the 11th distribution)
According to the legal document governing this distribution, all checks expire 90 days after their issuance date. The under-$10,000 checks in the US were issued on April 24 and expire on July 23. This leaves very little margin, especially for international check cashing.
2. US checks over $10,000 have not arrived yet
More than 30 days have passed since the under-$10,000 checks were issued. No one has reported receiving a check over $10,000 in the US. One person in Miami Beach is expecting a check over $12,000. Gilardi responds: "We do not know exactly when a particular payment will be processed."
3. Cashing a check from outside the US is dangerously slow
The process (local bank → US correspondent bank → Huntington Bank → return) can take weeks. If the check expires on July 23, a delay could cause it to arrive after the expiration date and be rejected.
4. We don't know the issuance date of the missing checks
The under-$10,000 checks in the US were issued on April 24. We do not know if the over-$10,000 checks and international checks will have the same issuance date (and therefore the same July 23 expiration) or a later date. If they are backdated, the time window will be extremely tight.
📄 Gilardi's Responses (documented)
- Regarding checks: "We do not know exactly when a particular payment will be processed."
- Regarding wire transfers: "Payments continue to be made continuously. We cannot expedite the process."
Conclusion: Do not expect useful information from Gilardi. Writing to them only serves to document.
⚠️ Regarding official websites (Receiver and Stanford Financial Claims)
The US Receiver has two official websites:
- www.stanfordfinancialreceivership.com
- www.stanfordfinancialclaims.com
On May 4, 2026, both sites posted the following message about payments:
"May 4 Update Concerning Payments Under Final Distribution Plan — The Receiver continues to issue additional payments to claimant groups pursuant to the Court-approved Final Distribution Plan (as amended). As of May 4, 2026, the Receiver has issued payments to over 5,600 claimant groups totaling more than $112 million. The Receiver will post further updates on the progress of his execution of the Final Distribution Plan as additional payments are issued."
The problem: These sites have not posted specific information about the 12th Distribution: check shipping dates, expiration dates, tracking information, or responses to delays. On April 15, 2026, COViSAL sent a request to the Receiver's attorney, Kevin Sadler, regarding the $8.1 million from Switzerland and the lack of confirmation about 12th Distribution payments. His response was:
"Thank you for your interest in the Stanford Receivership. I encourage you to check the Receivership website for timely updates and relevant Orders concerning the Receivership."
The reality: Those websites point to general information, not specific details about the 12th Distribution. Therefore, do not expect useful answers from the Receiver, his attorney, or the Examiner. They will direct you to websites that do not have the information you need.
📋 What to do when your check arrives (especially international)
Step 1: Check the issuance date and expiration date printed on the check.
Step 2: Go to your bank and ask exactly:
"This check was issued on [date] and expires on [date]. The clearing process requires sending it to your US correspondent bank and then to Huntington Bank in Ohio. Can you guarantee it will clear before the expiration date?"
Step 3: If the bank guarantees clearance → deposit it immediately.
Step 4: If the bank does NOT guarantee clearance → do not deposit it. Request Gilardi cancel the check and reissue via wire transfer.
⚠️ Remember: Checks expire 90 days after their issuance date. If they expire on July 23, time is extremely limited. Act immediately.
📅 Contingency Plan (if you haven't received your payment)
June 15: Write to Gilardi using the template below. Just to document.
June 22: If no response, resend the same message copying to:
- Ralph Janvey (US Receiver): rjanvey@kjllp.com
- Kevin Sadler: kevin.sadler@bakerbotts.com
Important: Copying Janvey and Sadler is not to expect a response from them. It is to document that you have notified the parties responsible for the Stanford Financial Receivership. If in the future there is a formal complaint or legal action, you will have proof that you notified them.
📝 Message Template for Gilardi
Dear Gilardi & Co.:
I am a Stanford survivor. As of [today's date], I have not received my 12th Distribution payment.
My information:
- Claim number: STANFORD-____________
- Amount: $____________
- Payment method: (wire transfer/check)
- Country: ____________
Please confirm the status of my payment.
If I do not receive a clear response, I request cancellation of my check and reissuance as a wire transfer.
Thank you.
📅 Key Dates
- April 24: Issuance date of under-$10,000 checks in the US
- 90 days later: Those checks expire on July 23
- Now – June 15: Wait
- June 15: Write to Gilardi (to document)
- June 22: Resend copying Janvey and Sadler
- July 23: Checks expire
📬 Help me document
When you receive your payment, please send me (no personal information):
- Check or wire transfer? Country?
- Amount over or under $10,000?
- If a check: What courier? Did you receive tracking? Did you sign? What are the issuance and expiration dates?
- If a wire transfer: Did you receive confirmation from Gilardi? Did it arrive without problems?
I will share the information (without names) so everyone knows what to expect.
Let's keep going. Step by step, with patience and faith.
Best regards,
Jaime
Jaime R. Escalona
Founder, COViSAL (Coalition of Stanford Survivors)
Since 2009 | On behalf of 1,350 subscribers
Our work benefits 17,000+ Stanford fraud survivors
Real people. Real survivors.
www.covisal.org | @COViSAL
jaenrodes@covisal.org | covisalven@gmail.com
Con Dios, superaremos todos los obstáculos. | With God, we will overcome all obstacles.
The nature of COViSAL's work is research, information, and dissemination. It should NOT be interpreted as legal advice.
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