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02-Jan-2018 03:06

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The second was made in November, 2013, a 7% distribution to all allowed claimants who had assigned their claims to the Trust.

A third distribution of 3% was made to all allowed claimants who had assigned their claims to the Trust was made in April 2016.

The Trust has filed suit against numerous broker-dealers seeking to recover both the commissions paid them and additional damages caused by the broker-dealers. Segner, Jr., Liquidating Trustee of the PR Liquidating Trust, has undertaken significant litigation efforts to maximize the recovery for all investors in the Provident Royalties family of companies.The broker-dealer litigation also sought the return of over million in commissions these various broker-dealers received from the Provident Royalties companies. Unfortunately, many of the defendants were thinly capitalized and grossly underinsured.The Trustee has brought litigation against the former directors and officers of the Provident Royalties companies, and numerous other individuals and companies that received monies from the Provident entities without providing fair value in return. The Trustee also commenced litigation against the Jordan River Liquidating Trust and has reached an agreement to compromise and settle those claims as well. The Trustee and the Trust Oversight Committee are committed to prosecuting these claims aggressively to maximize the recovery for the investors and are working hard towards being in a position to make distributions to investors. A 5% distribution (5% of allowed claim) to the General Fund (all 7,786 investors) participants in November, 2012.

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A 7% distribution to the Assigned participants in November, 2013 and the second distribution of 3% to the Assigned participants in April, 2016.Several settlements have been reported by the press or media outlets; however, some of these reports were inaccurate.