USA Capital

(Feb. 14): The Check Statements mailed to some investors contained a line item under Court Required Holdbacks titled “Prepetition Receipts.” For some investors, the funds held back were a sizable amount of money. Prepetition Receipts were funds in the USACM Collection Account at the time the Chapter 11 bankruptcy petition was filed. One of the Committees raised an issue regarding who should receive the receipts and USACM was ordered to holdback those funds until the issue was resolved. We are pleased to announce that the matter has been resolved and the funds will be released with the next distribution.



Prepetition Receipt Issue Resolved; Funds Held Back to be Released (Feb. 14): The Check Statements mailed to some investors contained a line item under Court Required Holdbacks titled “Prepetition Receipts.” For some investors, the funds held back were a sizable amount of money. Prepetition Receipts were funds in the USACM Collection Account at the time the Chapter 11 bankruptcy petition was filed. One of the Committees raised an issue regarding who should receive the receipts and USACM was ordered to holdback those funds until the issue was resolved. We are pleased to announce that the matter has been resolved and the funds will be released with the next distribution.
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