Atlanta Receivership Lawyers

Receivership is the situation when an enterprise is held by a receiver, defined as an individual who is given “custodial responsibility” for the property, including tangible and intangible assets. Receiverships are commonly used when an enterprise cannot meets its financial obligations or in bankruptcy cases.

A receiver can be appointed privately, by a government body, or by the courts. The terms of the appointment dictate the power of the receiver in the individual case.

Once appointed, a receiver governs all the affairs of the enterprise with an eye toward protecting assets and charting a path for the future, a path that may include liquidation.

Cauthorn Nohr & Owen has several attorneys, including Tom Cauthorn and Jason Nohr, experienced in managing receiverships.

Receivership Cases

SEC vs. MSC Holdings USA, LLC, McClintock, Alexander, et al.

Jason L. Nohr appointed as Receiver by United States District Court for the Northern District of Georgia, pursuant to recommendation by the Securities Exchange Commission (“SEC”).

On November 19, 2012, the U.S. Securities and Exchange Commission (“SEC”) filed an application for a temporary restraining order and other equitable relief, alleging that Defendants Billy Wayne McClintock, individually and doing business as MSC Holdings (“McClintock”), and Dianne Alexander a/k/a Linda Dianne Alexander (“Alexander”) were operating a type of Ponzi scheme known as a “prime bank fraud” from 2002 to the present using entities called MSC Holdings, Inc., MSC GA Holdings, LLC, and MSC Holdings USA, LLC (collectively “relief defendants”).

The SEC alleged that McClintock and Alexander raised over $15 million from over 200 investors in more than 20 states, including Georgia, by telling investors that their money would be placed with a clandestine overseas entity that McClintock and Alexander refer to only as “the Trust.” McClintock and Alexander misrepresented that the Trust would generate a return of at least 38 percent.

On the same day, November 19, 2012, U.S. District Judge Steve Jones granted the SEC application and entered an Order freezing assets of the Defendants, prohibiting the destruction of documents, and granting additional relief.   The Defendants later agreed to the entry of permanent injunctions against them.

Upon recommendation of the SEC, U.S. District Judge Steve Jones appointed Jason Nohr as the Receiver for MSC Holdings and related companies on February 11, 2013

The Receiver and his team have been working diligently to uncover the money Defendants fraudulently obtained from investors and locate assets purchased with those ill-gotten gains in an effort to ultimately return those funds to the victims of the Defendants’ illicit scheme.

Those who have invested money in this scheme may access information and filings in this case, including the SEC’s Complaint and the Receiver’s Interim Reports.  In addition, defrauded investors should provide the Receiver with detailed information about their claim, including their contact information, through this website.

Receiver’s Response in Support of Plan of Distribution and in Opposition to Claimants’ Objections to Plan

Order Setting Deadline for 30 days from Date of Order

Amended Motion for Order Establishing Deadline for Filing Objections to Plan of Distribution

Receiver’s Amended Motion to Approve Plan of Distribution and First Interim Distribution

Claims Spreadsheet – Exhibit B

Receiver’s Twelfth Interim Report

Proposed Order Setting Objection Deadline for Receiver’s Plan of Distribution

Motion for Order Establishing Deadline for Filing Objections to Receiver’s Plan of Distribution

Claims Spreadsheet – Exhibit A

Receiver’s Motion to Approve Plan of Distribution and First Interim Distribution and Brief in Support

Receiver’s Eleventh Interim Report

Final Judgment

Order for Civil Penalties

Amended Final Judgment

Default Judgment

Order Granting Motion for Default

Proof of Claim Form

Expert Report Prepared by Forensic Solutions

Order on MSJ

Order Denying Motion to Dismiss Jang

Order Denying Norma Days Motion to Dismiss

Order Denying Marshall Defendants Motion to Dismiss

Order Denying MTD filed by Vogel, Carr, Mullins, Schneller

Order Denying Rohms, Starchers and Sheffields Motion to Dismiss

Receiver’s Tenth Interim Report

Receiver’s Ninth Interim Report

Receiver’s Eighth Interim Report

Complaint and Exhibit

Complaint for Injunctive Relief

Order Appointing Receiver

Receiver’s First Interim Report

Receiver’s Report With Exhibits

Order Approving Receiver’s Motion to Pursue Third Party Claims

Receiver’s Second Interim Report with Exhibit

Motion for Court Approval of Receiver’s Report and Recommendation on Third Party Claims

Receiver’s Third Interim Report

Receiver’s Fourth Interim Report

Receiver’s Fifth Interim Report

Receiver’s Sixth Interim Report

Plaintiff SEC Motion for Summary Judgment

Receiver’s Seventh Interim Report

 

If you were an investor in the illicit scheme described by the SEC’s Complaint for Injunctive Relief, please provide us with your name, address, contact information, and the amounts that you invested in the fund in the form below.



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