Class Action Court’s Final Approval of Pending Ed Okun Settlements October 7

Notice of disclosure: I am not an attorney nor am I part of the proceedings in this case. Please perform your own due diligence when looking for dates, times, and announcements on the Ed Okun case. If you reference Gearld McHale’s blog (link below) you will find all appropriate information.

The Ed Okun 1031 Tax Group proceedings continue as the restitution news continues to it’s conclusion. Trustee Gerald Mchale’s newsletter #16 contains  the following notice:

“In major procedural areas, the bankruptcy court has set hearings (i) on approval of the disclosure statement for August 13, and (ii) confirmation of the Plan for October 7.  The class action court will hold a hearing on final approval of the pending settlements, and certification of the class for purposes of approving those settlements, on October 7 as well. This will hopefully lead to the ability to make distributions during the calendar year 2009 if these proceedings are successfully concluded.”

Date #1 August 13: Approval of Disclosure Statement

The bankruptcy court has set hearings (i) on approval of the disclosure statement for August 13.

Date #2 October 7: Hearing Final Approval of Pending Settlements

The class action court will hold a hearing on final approval of the pending settlements, and certification of the class for purposes of approving those settlements, on October 7 as well.


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One thought on “Class Action Court’s Final Approval of Pending Ed Okun Settlements October 7

  1. I am a victim of Ed Okun’s Ponzi scheme and what happened with the Colorado Bank in 2007. While talking to the bankruptcy attorneys, I hear several stories of what we are to receive in our settlements. One says we’ll get all our money back. Another says they will litigate this for several years and we’ll get pennies on the dollar. Another won’t say anything other than “Yes, you are on the list.” This all comes from the same office. Does anyone really know what, we, the victims can expect?

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