What is a Receivership?
Receivership is a process in which a court-appointed neutral party – the receiver – acts as a custodian to marshal and preserve a company’s property. A receiver can be authorized to investigate the financial and business affairs of the company under his control, and in certain circumstances, institute legal proceeding on behalf of the company’s estate. Additionally, a receiver is normally tasked with the duty of proposing a plan to distribute the property to investors, subject to approval by the Court. It is common for receivers to retain professionals, including attorneys and financial advisors, to assist them in their duties.
Who does the Receiver work for?
The Receiver reports to the Court, which has oversight over the Receiver’s activities in administering the receivership.
The Receiver is not your lawyer, and he cannot provide you with legal advice. You have the right to hire or consult with your own lawyer, and the Receiver encourages you to speak with your own lawyer.
Can the Receiver provide an estimate of the expected timing and amount of distributions investors can expect?
The Receiver cannot speculate on the timing, nature or value of distributions given, among other things, the uncertainty of (i) the timing of future Liquidity Events; and (ii) the value of Receivership assets at the time of distribution.
How can I receive information about the Receivership?
The Receiver encourages investors to regularly check the Receivership website for updates, including quarterly status reports. Periodic review of this website is the best way to stay up-to-date on developments in this Receivership. The website will be updated on a regular basis.
Who do I contact for additional information?
You may submit an inquiry by email to AndersenInquiries@stretto.com.
How long does the receivership process take?
At this stage of the proceedings, we cannot predict how long it will take to complete this process.
How do I file a proof of claim?
Please click HERE to find infomation on how to file a proof of claim form.
Should I hire a lawyer?
You have the right to hire or consult with your own lawyer, and the Receiver encourages you to speak with your own lawyer if you have any legal questions. As noted, neither the Receiver nor his counsel represent investors.
Can I charge interest or attorney fees incurred on my claim?
No, we will not accept any interest charges or attorney fees on a claim.
When will I find out if my claim is accepted or rejected?
The deadline to file claims is September 30, 2025. We do not know how many claims will be filed so we cannot predict how long it will take to review all of the claims. Please allow us six months before following up.
Where can I find updates?
We will post periodic updates to this website.
Is my claim a priority claim?
If you are an agricultural producer asserting a priority lien claim against the Receivership Entities, you MUST also intervene and/or join in existing litigation pending in the Superior Court, County of Tehama on or prior to September 30, 2025, or you will forfeit any right to assert a security claim.
What supporting documents do I need to provide in support of my claim?
Copies of documents such as contracts, account ledgers, purchase orders, invoices, security agreement, etc.
Do I need to include a summary of my claim?
Yes, please include a brief summary or statement of the facts supporting the basis for the claim.
Do I need to provide a W-9?
Yes, you need to include a W-9. We cannot issue any distributions/payments without a W-9.