Bankruptcy settlement update?

[vistaman]

1 hour ago, FlyerTalker said:

 

Two questions:  Just how do you know that "the money" is there, and how much?

 

Next: Do you know where in the LEGAL pecking order customers sit?  Especially in relation to vendors and agents, who also have valid legal claims.

 

Without those two facts, complaining is just that.

 

 

Absolutely true.  Think about it....a company goes into bankruptcy because their debts are greater than their assets.  It is impossible to then be able to satisfy every one of those debts at a 1:1 ratio because there aren't enough assets to go around.

 

It is precisely because everyone thinks that THEY should be made whole that bankruptcy has specific procedures to fairly distribute the balance of assets per the relevant law.  Vis a vis all creditors.

 

 

 

US clients did obtain cheques months ago , European clients not a cent yet . 

[FlyerTalker]

 

21 minutes ago, vistaman said:

US clients did obtain cheques months ago , European clients not a cent yet . 

 

Seems that you missed this post from earlier in this thread:

 

On 3/14/2024 at 8:16 PM, Cjohns16 said:

Today I received notification from Info CC that a wire transfer has been made to us. I can also confirm  payment of usd 4450, converted to Euros is now in our bank account.

 

 

That poster is in Germany.  So much for "European clients not a cent yet."

 

 

 

[travelberlin]

23 minutes ago, vistaman said:

US clients did obtain cheques months ago , European clients not a cent yet . 

Some Europeans seem to have received their US 2225 pp already. Others have not. We are still waiting. 

[Stereojeff]

I received an email today "SERVICE OF COURT DOCUMENT-2022-02742-CA-01 - REFERENCE ........" disputing my claim filed with Moecker for funds due from "Old Crystal".

 

Pursuant to the Claims Procedure Order, if a claimant disputes this Objection to
their claim, then within 21 days of service of this Objection, such claimant must contact the
Assignee via email at crystalclaimsobj@moecker-crystal.com to attempt to resolve the dispute.

 

Needless to say, I have already responded denying the allegation that I have received compensation for my losses to Old Crystal from a credit card company.

 

Jeff

 

N THE CIRCUIT COURT OF THE 11^TH

JUDICIAL CIRCUIT IN AND FOR

MIAMI DADE COUNTY, FLORIDA

Crystal Cruises, LLC                                                  CASE No.:  2022-002742-CA-01

Crystal Holdings U.S., LLC                                       CASE No.:   2022-002757-CA-01

Crystal AirCruises, LLC                                            CASE No.:   2022-002758-CA-01

Assignor,

v.

 

Mark C. Healy

Assignee.

 

Document being served:

 

ASSIGNEE’S FIFTIETH OMNIBUS OBJECTION TO CLAIMS- Reference OBJ23.03-02C

 

 

MOTION - Fiftieth Omnibus Objection to Claims - 50.OBJ24.03-02C.pdf

[vistaman]

I finally got my  2250 dollar  minus some "transfer charges" 🤑

in my country that is done otherwise :

so mr A  with 60K , myself with 18 K  and Mrs B with one deposit of 3K 

all the same 2250$ 

here they divide the available money in view of the debt  so %  degree

[FlyerTalker]

2 hours ago, vistaman said:

I finally got my  2250 dollar  minus some "transfer charges" 🤑

in my country that is done otherwise :

so mr A  with 60K , myself with 18 K  and Mrs B with one deposit of 3K 

all the same 2250$ 

here they divide the available money in view of the debt  so %  degree

 

And that happens here as well.  But that applies AFTER the priority distributions, which are a flat amount.  With the priority distributions, everyone gets the maximum of XXX per person, regardless of the total amount claimed.  When it comes time for the general distribution, after all priority claims are settled, it's done on a flat percentage basis for everyone.

 

Or at least that is my understanding.

 

Please don't conflate the priority distributions, which you DID receive, with general distributions that are a completely different animal.

 

 

[Whipsnade]

Flyer is correct. But we should not expect much from this general distribution as our claims are tiny compared to some vendors like fuel, provisions and many others. And be patient. Betting it may another six mos or a year. 

[LNugent]

Received this email today after asking many times when my check would be mailed

 

 

“

Unfortunately, we do not have an open bank account at this time to issue checks.  Due to ongoing issues with mail delivery, including instances of lost and stolen checks, we have decided to offer  wire transfers as a method of distribution. This method offers greater reliability and efficiency, ensuring that you receive your payments in a timely manner. At this time, we do not have an established date of when we will reissue checks. As a result, we will cease issuing checks for distributions at this time. Instead, we kindly request that you provide us with your wire transfer information to facilitate this transition smoothly. 

 

Attached to this email, you will find the necessary form for submitting your wire transfer details. To ensure accuracy and security, please ensure that the name(s) on the bank account match the information provided on your submitted claim form.

In order to proceed with the wire transfer, we require that you attach a verified letter from your bank containing your wire transfer details and instructions (name of account holder, Account Number, SWIFT code, Routing, etc). This additional documentation is necessary to ensure the accuracy and security of the transaction. Please submit a letter from your bank as soon as possible to process your payment.

[Whipsnade]

Yikes. 

[bitob]

The misery is never ending

[dawntrdr]

Do be careful.  It is inconceivable to me that a bankruptcy trustee would not have an open bank account.

[LNugent]

The latest is they wouldn’t accept just the form (that they provided) with my wire instructions. They wanted a letter verifying account and wire Instructions from my bank. More stalling tactics. I sent them the letter which was difficult and time consuming to get. I told them if the funds were not promptly wired I would be reporting them to the Florida Bar.  I am giving them 10 days. We will see. 
 

Edited April 12 by LNugent

[Whipsnade]

Yikes. Again. 

[skybluewaters]

15 hours ago, LNugent said:

They wanted a letter verifying account and wire Instructions from my bank. More stalling tactics.

 

I'm not sure this is a stalling tactic.

Just ask Shohei Ohtani.

[PaulMCO]

Certainly pays to be a the Administrator. Latest accounting.

Latest fee bill is $5M.  Prior bill was over $2M

 

One interesting point is that so far almost $16M has been returned to consumer claims and $600K for back wages.

 

There remains significant money for unsecured claims, but no indication of the size of these claims.

04.19.24-Motion-Motion-For-Assignee-Fees-Healy-2.pdf