The Court approved the Receiver’s Motion to fix allowed amounts of investor claims and authorized an interim distribution on those claims on Friday, July 2nd. Distribution checks will be mailed on Friday, July 16th to the current addresses on file. For investments owned by an IRA, distributions are being made directly to the custodian based on the information from proof of claims filed and AEM records.
Latest News
Proposed Sale
The Receiver is proposing to sell the real property and improvements commonly known as 1030 Amethyst, Pahrump, Nevada 89060. The notice of the proposed sale is available under the Pending Sales tab of the Real Estate Page.
Proposed Sale
The Receiver is proposing to sell the real property and improvements commonly known as 1090 Alexandrite, Pahrump, Nevada 89060. The notice of the proposed sale is available under the Pending Sales tab of the Real Estate Page.
Proposed Settlement
On May 28, the Receiver filed a two-part claims motion with the Court. The first part of the motion addresses allowing and disallowing claims in the Receivership, and the second asks the Court to approve an interim distribution of $3 million to investors. In the next few days, Investors should receive two mailings, one containing copies of the court documents filed on the 28th, and letter from the Receiver personalized to each investor outlining their proposed claim and distribution amounts. Copies of documents filed with the court are also available on the Documents tab of this website. The objection deadline is on June 29, and the hearing on the motion is set for July 2 at 9:00 a.m. before Judge Gregerson in Clark County Superior Court.
Proposed Settlement
The Receiver is proposing to enter into a settlement with Odin, LLC, Spartan, Inc., Tom Garbarino, Robert Garbarino, Jeff Garbarino, Jonathan Garbarino, Judy Garbarino, James Garbarino, Corvel LLC, and TG1 LLC, in order to resolve the case known as Clyde A. Hamstreet & Associates, LLC v. Odin, LLC, et al., Clark County Superior Court Case No. 20-2-01773-06. The notice of the proposed settlement is available on the Settlements Page.