Welcome to the Phoenix Leasing Limited Partnership Litigation Website
THIS ACTION PERTAINS TO ALL PERSONS OR ENTITIES WHO PURCHASED LIMITED PARTNERSHIP INTERESTS IN THE PHOENIX LEASING CASH DISTRIBUTION FUNDS I THROUGH V, WERE ACCEPTED AS ELIGIBLE CLAIMANTS, AND WERE MAILED A DISTRIBUTION CHECK IN 2003
Please Click Here To View a Copy of the Notice to Class of Proposed Sale and Assignment of Reliance Claim
This website provides a summary of information presented in more detail in the Notice to Class of Proposed Sale and Assignment of Reliance Claim (“Sale Notice”). Since this is just a summary, if you are an eligible claimant you should read the full Sale Notice for additional details.
IMPORTANT DATES AND DEADLINES
Object to the Sale of the Reliance Claim
Received No Later than October 23, 2012
November 13, 2012 at 9:00 am
As described more fully in the Sale Notice and the Agreement for the Sale and Assignment of Claim Against Reliance Insurance Company, in Liquidation, dated July 16, 2012, as amended (the “Agreement”), Class Counsel has reached an agreement, which the Court must approve, to now sell to a third party the Class’s claim against Reliance (the “Reliance Claim”) that was part of the Settlement and is an asset of the Class.
A hearing regarding the Agreement will be held on November 13, 2012 at 9:00 a.m. before the Honorable Lynn Duryee in Dept. No. L of the Superior Court of the State of California at 3501 Civic Center Drive, San Rafael, CA 94913. The hearing will be held to determine whether the Agreement is fair, reasonable, and adequate, and whether it should be approved by the Court. If the Agreement is approved by the Court and the transaction is completed (the “Claim Sale”), you may be entitled to a future distribution from the sale proceeds.
Any objection to the sale of the Reliance Claim or the request for attorneys’ fees and expenses must be filed with the Court and received by Class Counsel by October 23, 2012. For more information and detailed instructions concerning objecting to the terms of the Agreement, see Question 9 “What Are My Options, What Do I Need to Do?” in the Sale Notice.
HOW AND WHEN MIGHT I RECEIVE A FUTURE DISTRIBUTION FROM THE CLAIM SALE?
You do not have to submit a new claim form -- your payment will be calculated using the Plan of Allocation and the transactional information that you previously provided. No payments will be made unless the Court approves the Agreement, all other conditions of the Agreement are satisfied, the Sale Order becomes final, and the Court subsequently approves a distribution. Please be patient.
This distribution will be allocated among Class Members previously found by the Court to be “Accepted Eligible Claimants” in an August 20, 2003 order who (a) cashed their 2003 Distribution check, or (b) have notified the Claims Administrator that they did not receive/did not cash their 2003 Distribution check but want to be included.
OBTAINING MORE INFORMATION
Additional information regarding the Settlement and the Sale Notice can be obtained by logging in and reviewing the court documents by clicking the Settlement Documents and Reliance Claim Documents links on the left hand side of the page.
CHANGE OF ADDRESS
If you move after receiving the Sale Notice or if it was misaddressed, you should supply your name and correct address to the Claims Administrator:
Phoenix Leasing Limited Partnership Litigation
c/o Rust Consulting, Inc.
P.O. Box 2811
Faribault, MN 55021-8616