Zeek Rewards Receivership extended through 2021
Due to several outstanding issues, the Zeek Rewards Receivership has been extended through to 2021.
The last roadmap placed the winding down of the Zeek Receivership on or around January 2020.
Ongoing issues will blow that soft deadline out by more than a year, as revealed in an August 4th filing.
In a motion for an extension of time to file a Final Liquidation and Dissolution Plan, the Zeek Receiver cites two ongoing issues:
- remaining litigation against Victoriabank; and
- unclaimed property collection work.
Until this work is resolved, a final distribution to injured investors cannot be calculated or made.
The Receiver’s motion requests a 180 day extension, which was granted on August 6th.
Pending any further extensions, the Receiver’s Final Liquidation and Dissolution Plan is now due by January 20th, 2021.
Update 17th May 2021 – Status update as per Receiver’s Q1 2021 Status Report;
There are limited substantial tasks of the Receivership that remain. These include
(1) completing the receipt and processing of payment from Net Winner settlements;
(2) completing the sale or collection of unsettled judgments against Net Winners; and
(3) making a final distribution to claimants with recognized claims.
No dates yet.