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Disclaimer


The following information is provided by the Official Committee of Unsecured Creditors for information purposes only and has not necessarily been reviewed or approved by the Chapter 11 Trustee.

Following is a brief update from the Unsecured Creditors Committee as of February 18, 2020.

The nine (9) bankruptcy cases of the Debtors have now been substantively consolidated under the main case of CFO Holdings, Inc. – Case No. 19-40426. The remaining Debtor cases have all been closed.

The deadline for filing a Proof of Claim has now expired. At this time, you are unable to view your Claims on the KCC website as all Claims are in the process of being reviewed to identify duplicates, identify facially incorrect Claim amounts and interest calculations, and initially assess the adequacy and appropriateness of supporting documentation. During this process, creditors may be contacted regarding deficiencies in or other issues with their filed Claim and provided an opportunity to amend their Claim. Once this initial review of Claims is completed, Claims will once again be accessible through the KCC website by going to their website – kccllc.net – and scrolling down to the CFO case. Once there, you can view any pleadings that have been filed in these cases, including your filed Claim or Amended Claim.

The Chapter 11 Trustee, along with his counsel and the Committee, continue to work diligently in liquidating the assets of these Bankruptcy Estates. The majority of Estate assets have already been sold (or are being prepared for sale closing), and the parties are continuing with negotiations with potential buyers and/or marketing for the remaining assets. Discussions are ongoing with the two lenders who made loans to the Debtors prior to the bankruptcy, as well as with other parties who had liens on the assets of the Estate, in an attempt to resolve those issues.

The U.S. Treasury has returned the $543,646.76 interpled funds that it had seized from Mr. Carter, and this money is now in the Estate’s account.

If you have any questions or need any additional information from the Committee, or have any questions about your Claim, please contact Singer & Levick’s Paralegal, Suzanne Cotton. She may be reached via phone: 972.380.5533 or via email: scotton@singerlevick.com.

Counsel for the Committee:
Larry A. Levick
Singer & Levick PC
16200 Addison Road, Suite 140
Addison, Texas 75001
Phone: 972.380.5533
Fax: 972.380.5748