Provisional Liquidators to Stanford Development Company (“SDC”) Explain Provisional Liquidation Process

Marcus Wide of Grant Thornton (British Virgin Islands) Limited and Hordley Forbes of Forbes and Associates (Antigua) were appointed as Provisional Liquidators of SDC. Within that role, they have taken over the company and are duty-bound to preserve its assets. Further, until further notice, SDC’s former directors’ powers are withdrawn and there is a stay of proceedings in place as to any actions that may be commenced against SDC without a court order.

The next step is likely the resolution of an application to wind up SDC. Though the result is not known, in most instances, the company will transition from provisional liquidation to liquidation at which point a liquidator(s) will be appointed. The role of the liquidators will be to wind up the company and settle all debts.

In the interim, the Provisional Liquidators continue to confer with creditors, the Antiguan government and other interested parties to bring a speedy resolution to SDC’s provisional liquidation by, among other things, paying creditors and getting SDC’s books and records in order. Notably, since a provisional liquidation does not involve a claims process, there is no need to submit a claim at this time.

For further information related to SDC, please see the SDC tab at www.sibliquidation.com for information posted by the Provisional Liquidators.

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum http://sivg.org/forum/

OPEN LETTER TO JANVEY AND JLs. FOR IMMEDIATE RELEASE

March 12, 2013
FOR IMMEDIATE RELEASE

TO:
Mr. Ralph Janvey
Mr. Marcus Wide
Mr. Hugh Dickson

CC:
Mr. John Little
Mr. Edward C. Snyder
Mr. Kevin M. Sadler
Mrs. Jennifer Ambuehl

Dear Mr. Janvey, Mr. Wide and Mr. Dickson,
Months have gone, it is March 2013 and the real victims of the Stanford fraud (hereinafter "we", "us") have not yet received any information about the distribution of our money located in the USA and abroad.

So far we have suffered from lack of information and transparency. However this should not happen because you are working for us.

As it was mentioned by the OSIC in January 22, 2013: "We (the OSIC) strongly believe that you, the victims of this horrible crime, should decide how your money is spent, and whether all available funds should be distributed to you, or to fund ongoing efforts by the receivership or the joint liquidators"

We demand that all the money collected so far to be immediately distributed to us.

We agreed all together with this petition and as both of you are working for us (and both of you have being paid so far with our money), you must listen to our petition. We have taken this decision, so please inform us as soon as possible:
1- how much money there is for distribution so far identified in the USA and abroad
2- how the complete distribution will be effectively implemented and how all the money will be paid to us.

We cannot keep waiting and waiting.

Sincerely,
The real victims of the Stanford fraud

Sign the open letter to Janvey and JLs. ( View how many victims have accepted this letter)

Read more: http://sivg.org/article/2013_OPEN_LETTER_TO_JANVEY_AND_JLs.html            

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum http://sivg.org/forum/