Zeek Rewards: Receiver Proposes Final Judgment Process For “Net Winners”

Zeek Receiver, Kenneth Bell, has filed a Motion to Enter and Order for determining the amount of Final Judgment against the “Winner Class” members. The Court had entered an Order granting a Summary Judgment and Partial Summary Judgment against the Net Winner Class on November 29, 2016. The Court found that the Net Winner Class received “fraudulent tranfers” that must be repaid to the Receiver.

The only issue now remaining before the Court with respect to the Net Winner Class is how to fairly and efficiently determine the amount of the Final Judgment (ZeekRewards net winnings plus pre-judgment interest) to be paid by each of the over 9000 members of the class.

Attached to the Motion is an Exhibit containing the proposed process

that will give each class member individual notice of the amount of his or her “net winnings” according to RVG’s records, an opportunity to respond to that amount with evidence of a different amount and access to a fair and expedient process to resolve any cases in which the Receiver and Net Winner cannot agree on the amount of the Final Judgment. Counsel for the Receiver has conferred with Counsel for the Net Winner Class, and Counsel for the Net Winner Class has stated that the Net Winner Class has no objection to the Receiver’s proposed process.

Part of the proposal is notification “on or before January 31, 2017” of the amount of “Net Winnings” as indicated in RVG’s records and the records of the Receivership.

The amount of net winnings shall be calculated by the Receiver (through his expert witness) in the same manner as the Final Judgments entered against the named Net Winners in this action.

The process proposed is rather lengthy, so here is a link to it on the ASDUpdates Files website. Also listed is the Proposed Order.

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