I also received notices of incomplete claims from the Blitz administrators for not providing proof of holdings after 12/28/11. And I agree, it is BS because I essentially had sold shares and tehn bought them back. So, I had realized gains and unrealized losses. Hopefully I'll be able to resolve the issue before 3/15/15. I'm sending in my response today.
No. My understanding is that the brokerage houses were supposed to release the holdings information to the third party liquedation administrators. They should have surrendered the shares which results in a zeroing out of your holdings.
yes, sounds like it because 12/31/14 was the last day to file for the Bllitz vs AgFeed case.
I called E*Trade on Friday and was very disappointed (i.e., #$%$) to hear the broker tell me that my shares in one account (I have two) were not sent up for liquedation as they should have been at the request if the "3rd Party" handling the share liquedation. The representative said he would send them up, but that Friday (the day i called) was the deadline and that he could not gaurantee they would be processed accordingly. I told them I would hold them personnally responsible if I miss out on any distributions I am due.
Clearly the large brokers are hiding something, or, as several have said over the years, they purposefully harbor the shares for their own gain. Total BS!
No, you can write it off. If you receive a distribution, you will then have to claim the income. Reaaly, you didn't have to "close the position" to take the write off. You just have to say it is worthless (no problem there!). Even if audited, there would be little difficulty in demonstrating the shares were worthless when you wrote them off for tax purposes. How your broker handles the reporting instructions from the liquedating trustee I can't be sure about. that is the topic I would discuss with them to be sure you are not left out in the cold.
I just finished reading some items in the docket. It appears that our brokers will be ordered (required) to disclose our names, addresses, tax information, and number of shares held on the "distribution date" (sometime last fall I think). From that information, the trustee will make distribution, or send us forms to file for distribution. I am concerned about some language that, if we refuse to release that information, that might disqualify us. Seems we should make sure that our brokers are authorized to send the personal information out (or find out if we have authorized them to not disclose it). I would think the brokers will receive the information requests faily soon.
The question you need to ask is, "What forms did you submit?" The ones for the BK (i.e., Class 5 or 6), or for the Blitz vs. AgFeed class action lawsuit? If you still hold your 2012 shares, then you are eligible for the BK estate liquedation, which apparently we do not need to file any forms for, or haven't needed to yet..
I like your post and look forward to receiving some cash soon. I don't think they will get much suing the insiders here, just get as much as possible from the estate by keeping as much of it as possible away from their greedy fingers!
The class action lawsuit period I believe extended all the way back to 2009, but if you haven't filed a claim yet, you missed the filing cutoff of 12/31/14, and probably won't get anything there. If you still owned your shares, you are still eligible for the larger unsecured claims payout.