The Creditors’ Trust recently served the attached notice on a number of the investors. The notice relates to claims against the Creditors’ Trust based on Former Positions. Former Positions are positions that investors no longer held as of May 19, 2015, such as where the underlying investment position had sold, lapsed or abandoned prior to May 19, 2015, the date that LPI filed for bankruptcy. Former Positions also include positions that were deemed to have been abandoned for failure to pay a Pre-Petition Default Amount (PPDA). This action by the Creditors’ Trust does not impact any of the Plan securities – Continuing Fractional Holder interests, PHT units, IRA Partnership units and New IRA Notes.
If you have questions about this notice, please contact the Creditors’ Trust at LPCreditorsTrust@munsch.com or (214) 740-5135. Please do not contact Magna or the PHT Trustee about this notice as we have no information regarding it.
Download Notice Here.
Download CT Former Position Schedule FAQs