The Traffic Monsoon Receivership has flagged work starting on a “plan of distribution”.

The announcement follows resolution of a significant percentage of investor claims.

As per the Receiver’s April 15th Third Status Report covering the claims process;

To date, 18,039 Proofs of Claim are allowed or are anticipated to be allowed in the total amount of $55,132,872, and only 511 Proofs of Claim asserting claims totaling approximately $12,923,100 remain unresolved.

This is up from $36.3 million in allowed claims just shy of a year ago.

Pending approval by the court, the Receiver is hoping to whittle down the $12.9 in disputed claims to $549,472.

PayPal also has a $3.1 million claim which is being worked through.

Pending approval by the court to move towards resolving unresolved claims, the Receiver writes;

Now that Disputed Investor Claims have been significantly reduced, the Receiver also intends to work on a plan of distribution.

There is no timeline for court approval or the distribution process.

 

Update 15th June 2022 – A Status Conference with the Receiver has been scheduled for 8th July.