Payza settles $13.1 mill Zeek clawback with consent judgment
Payza, one of the three parties the Zeek Receiver is pursuing over a $13.1 million clawback, has agreed to a consent judgment for the full amount owed.
The signed consent judgment sees Payza (dba M.H. Pillars) ‘enter into a final Consent Judgment in the amount of $13,174,015‘.
Payza has represented to the Receiver that ‘they are not able to pay the full amount owed to RVG and claimed by the Receiver‘.
Thus the Receiver’s right to continue pursuing clawback for the same amount against VictoriaBank, PaymentWorld and Roman Balanko are preserved in the settlement.
If I’m understanding correctly, Payza is essentially transferring its interest in the $13.1 million to the Receiver.
Payza thus gets out of the lawsuit (they’ve got bigger things to worry about), and the Receivership has one less defendant to engage.
On March 28th Judge Mullen approved the proposed settlement with Payza, the day after it was filed.
Clawback litigation over the seized $13.1 million in one of VictoriaBank’s accounts continues.
In related news Kenneth Bell, the current Zeek Receiver, has nominated Matthew Orso as his replacement.
Bell has been nominated for a District Judge appointment in North Carolina, which is pending a vote for confirmation.