1474 Receiver Motion To Establish Bar Date For Claims

Case 3:09-cv-00298-N Document 1473
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Page 1 of 17 PageID 33175
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Case No. 3:09-CV-0298-N STANFORD INTERNATIONAL BANK, LTD., ET AL., Defendants. ______________________________________________________________________________ RECEIVER'S MOTION FOR ENTRY OF AN ORDER (I) ESTABLISHING BAR DATE FOR CLAIMS; (II) APPROVING FORM AND MANNER OF NOTICE THEREOF; AND (III) APPROVING PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM _____________________________________________________________________________ I. INTRODUCTION Ralph S. Janvey, Receiver for the assets of the Defendants and all Stanfordcontrolled entities, respectfully moves this Court for an order: (i) establishing a bar date for claims; (ii) approving the form and manner of notice thereof; and (iii) approving the proof of claim form and procedures for submitting proofs of claim (the Motion). This Motion was drafted in consultation with the Investor Committee and the Examiner, and much of what is contained herein reflects their input. The Investor Committee and Examiner, however, are not in complete agreement with the Receiver on certain aspects of this Motion, including the timing of the filing of this Motion. The Investor Committee and Examiner will separately file responses to this Motion to address their concerns to the Court. II. FACTUAL BACKGROUND On February 16, 2009, the Securities and Exchange Commission (the Commission) commenced a lawsuit in this Court against R. Allen Stanford; two associates,
RECEIVERS MOTION FOR ENTRY OF AN ORDER (I) ESTABLISHING BAR DATE FOR CLAIMS; (II) APPROVING FORM AND MANNER OF NOTICE THEREOF; AND (III) APPROVING PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM
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James M. Davis and Laura Pendergest-Holt; and three of Mr. Stanfords companies, Stanford International Bank, Ltd., Stanford Group Company, and Stanford Capital Management, LLC (collectively, the Defendants).1 The Commission alleges, in its Second Amended Complaint filed on January 8, 2010, that the Defendants perpetrated a multi-billion-dollar Ponzi scheme by, among other things: (1) promising high rates of return on certificates of deposit that exceeded those available through true certificates of deposit offered by traditional banks and (2) selling a proprietary mutual fund wrap program known as Stanford Allocation Strategy using materially false and misleading historical performance data. Complaint) at 1-2, 7.] This Court found good cause to believe that the Defendants violated federal securities laws. Accordingly, on February 16, 2009, this Court signed an order appointing Ralph S. Janvey as Receiver over all the assets of the Defendants and all the entities they own or control, which was entered on February 17, 2009, and which was amended on March 12, 2009, and July 19, 2010 (as so amended, the Amended Receivership Order). [See Docs. 10, 157, 1130.] Pursuant to the Amended Receivership Order, the Receiver is charged with marshaling and preserving all the assets of the Defendants and the entities they own or control, including, without limitation, Stanford International Bank, Ltd.; Stanford Financial Group Company; Stanford Group Company; Stanford Trust Company; Stanford Capital Management, LLC; Stanford Coins & Bullion, Inc.; and the entities listed in Exhibit 1 to the Appendix in support of the Motion (collectively, including their respective estates, subsidiaries, and other property, the Receivership Entities).
The term Defendants as used herein also includes Stanford Financial Group Company and The Stanford Financial Group Building, Inc.
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[Doc. 952 (SECs Second Amended
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On April 20, 2009, this Court entered an order appointing John J. Little (the Examiner) as the examiner in this case. [Doc. 322.] The Receiver periodically files reports with this Court to provide information regarding, among other things, the status of the receivership and his asset recovery efforts. [See Docs. 336, 859, 1117-1118, 1236-1237, 1469-1470.] The Receiver maintains a website at
http://stanfordfinancialreceivership.com/ that provides information about the receivership, including information regarding customer accounts, claims information, contact information for the Receiver, statements issued by the Receiver, and significant filings in this case. On August 10, 2010, this Court entered an order appointing a committee to represent investors in this case and related matters, to be comprised of seven voting members including the Examiner and six other members that represent a cross-section of investors (the Investor Committee). [Doc. 1149.] III. RELIEF REQUESTED By this Motion, the Receiver seeks entry of an order (the Bar Date Order) (1) establishing 5:00 p.m. (prevailing Central Time) on the date that is 180 days after entry of the Bar Date Order as the deadline by which all Claimants must submit completed and signed Proofs of Claim evidencing their Claims against one or more of the Receivership Entities; (2) approving the form and manner of the notice thereof; and (3) approving the Proof of Claim Form and procedures for submitting Proofs of Claim (collectively, the Claims Procedures). IV. CLAIMS AND CLAIMANTS SUBJECT TO BAR DATE Claims. For purposes of this Motion, a Claim is defined as: 1. a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, mature, unmatured, disputed,
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undisputed, legal, equitable, secured, or unsecured, against one or more of the Receivership Entities; or 2. a right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured, against one or more of the Receivership Entities. Claimants. For purposes of this Motion, a Claimant is defined as and includes any person or entity (including, without limitation, individuals, partnerships, corporations, estates, trusts, and governmental units) that holds a Claim. Without limiting the generality of the foregoing, the definition of Claimant includes, but is not limited to, any person or entity holding (1) a Claim based on any investment in a Receivership Entity, including an investment in a certificate of deposit issued by Stanford International Bank, Ltd. or any other Receivership Entity or (2) a Claim of any kind whatsoever against any Receivership Entity, including, without limitation, a Claim based on the provision of goods or services to any Receivership Entity and has not been paid in whole or in part therefor; money loaned to any Receivership Entity and has not been paid in whole or in part therefor; unpaid wages, compensation, or other employment benefits; tax liabilities, including those held by federal and state governments; primary, secondary, direct, indirect, secured, unsecured, or contingent liability; or contract, tort, indemnity, reimbursement, subrogation theories, or other legal or equitable theory. V. BASIS FOR ESTABLISHING CLAIMS PROCEDURES In order to develop a successful distribution plan, the Receiver must identify the nature and scope of the potential claims against, and liabilities of, the Receivership Entities. For
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this reason, it is necessary to establish a deadline for Claimants to submit proofs of claims for processing by the Receiver. Furthermore, it is critically important to the efficient administration of the receivership and the fair distribution of assets among Claimants that the proofs of claim be timely filed and that untimely proofs of claim be barred. With limited proceeds available for distribution, the Claims Procedures will ensure that the available proceeds are maximized and distributed to Claimants that hold valid Claims and that submitted proofs of claim prior to the deadline for doing so. Support for the Claims Procedures can also be found in other receivership cases, where courts have held that similar procedures were in the best interests of the receivership entities, their creditors, holders of claims, and other parties in interest. See, e.g., SEC v.
Princeton Econ. Intl Ltd, 2008 WL 7826694 (S.D.N.Y. Sept. 30, 2008); SEC v. Cook, 2003 WL 22272065 (N.D. Tex. Sept. 30, 2003). VI. CLAIMS PROCEDURES Bar Date. The Receiver accordingly requests that this Court establish 5:00 p.m. (prevailing Central Time) on the date that is 180 days after entry of the Bar Date Order as the deadline for Claimants to submit Proofs of Claim against the Receivership Entities (the Bar Date). Eligibility to Submit Proofs of Claim. Proofs of Claim (as defined herein) shall be submitted by all persons or entities (including, without limitation, individuals, partnerships, corporations, joint ventures, estates, trusts, and governmental units) that are Claimants and believe that they are owed any money by, or have a right to distribution from, any of the Receivership Entities, regardless of whether the Claim at issue has been acknowledged by the
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Receiver or whether the Claim at issue is held with or through any person or entity or based on primary, secondary, direct, indirect, secured, unsecured, or contingent liability. Administrative and Professional Claims. Creditors holding claims based on the provision of goods or services to the Receivership Entities or the Receiver after the February 16, 2009 appointment of the Receiver (Administrative Claims) will not be required to submit proofs of claim on or before the Bar Date and will not be subject to the Bar Date. The Receiver will continue to satisfy Administrative Claims as they are incurred and come due. Additionally, the Receiver, his professionals, the Examiner, and the Investor Committee will not be required to submit proofs of claim on or before the Bar Date, and all claims of the Receiver, his professionals, the Examiner, and the Investor Committee (Professional Claims) will be addressed in accordance with prior orders of this Court. Notice. The Receiver believes that the following efforts will ensure broad notice to Claimants: 1. Notice by Mail. The Receiver proposes to serve by mail, within 30
business days of entry of the Bar Date Order, (a) SIB CD accountholders who had a positive SIB CD account balance as of February 16, 2009 and for whom the Receiver has physical addresses from the books and records of SIB and (b) potential Claimants who have provided the Receiver with a physical address through (i) communications directed to the Receivers email address info@stanfordfinancialreceivership.com, (ii) the prior submission of a Claimant Form, or (iii) the prior submission of an Application for Review and Potential Release of Stanford Group Company Brokerage Accounts, with: (1) a notice of the Bar Date and the
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procedures for submitting proofs of claim, substantially in the form of the notice attached hereto as Exhibit 2 to the Appendix in support of the Motion and incorporated herein by reference (the Bar Date Notice) and (2) a proof of claim form substantially in the form of the document attached hereto as Exhibit 3 to the Appendix in support of the Motion and incorporated herein by reference (the Proof of Claim Form). With
respect to the Claimants that meet the above requirements for notice by mail, the Receiver proposes to serve (a) those located within the United States by United States first class mail and (b) those located outside the United States by any method he deems reasonable in his sole and absolute discretion but subject to review by, and concurrence of, the Investor Committee. The Bar Date Notice and the Proof of Claim Form provide clear notice and instructions concerning the Claims Procedures. 2. Notice by Electronic Mail. In addition to notice by mail (if required pursuant to the previous paragraph), where potential Claimants have provided an electronic mail address to the Receiver through (a) communications directed to the Receivers email address
info@stanfordfinancialreceivership.com, (b) the prior submission of a Claimant Form, or (c) the prior submission of an Application for Review and Potential Release of Stanford Group Company Brokerage Accounts, the Receiver proposes to serve, within 30 business days of entry of the Bar Date Order, the Bar Date Notice and the Proof of Claim Form on such potential Claimants via the electronic mail address provided by them.
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3. Notice by Publication. The Bar Date Notice and the Proof of Claim Form will also be made available, within 10 calendar days of entry of the Bar Date Order, on the Receivers website (www.stanfordfinancialreceivership.com) and on the website maintained by the Examiner (http://www.lpflaw.com/sub/stanford.jsp), and the Receiver and the Examiner shall issue, within 3 calendar days of entry of the Bar Date Order, press releases that include the Bar Date Notice and the Proof of Claim Form. The Receiver also proposes to publish, within 45 calendar days of entry of the Bar Date Order, a notice of the Bar Date and the procedures for submitting proofs of claim, substantially in the form of the notice attached hereto as Exhibit 4 to the Appendix in support of the Motion and incorporated herein by reference (the Bar Date Publication Notice), in newspapers of general and local circulation, including The Wall Street Journal, Houston Chronicle, The New York Times, Financial Times, and other such publications that in the Receiver's sole and absolute discretion are reasonably calculated to provide notice to potential Claimants, on two days that are two weeks apart. The Receiver has chosen the publications listed above because they are most likely to reach an audience that may hold unknown Claims, as they target the financial industry and the geographical areas most affected by the receivership. 4. Notice Upon Inquiry. The Receiver will promptly provide the Bar Date Notice and the Proof of Claim Form to any Claimant who makes a written request for such documents to the e-mail address
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info@stanfordfinancialreceivership.com or to the physical address Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079. Procedure for Submitting Proof of Claim. Except as otherwise ordered by this Court or provided below, each Claimant must submit a completed and signed Proof of Claim Form under penalty of perjury and evidencing such Claimants Claim, together with supporting documentation (a Proof of Claim), with the Receivers agent in the manner indicated below, so that such Proof of Claim is actually received on or before the Bar Date. Proofs of Claim may be submitted to the Receivers agent (1) in person or by courier service, hand delivery, or mail addressed to Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079; (2) by electronic mail, as an attachment in portable document format (.pdf), to info@stanfordfinancialreceivership.com; or (3) by facsimile or by telecopy to (281) 368-2054. Proofs of Claim should not be filed with this Court, and any Proof of Claim so filed will not be considered properly submitted. Prior Submissions by Claimants. Prior submissions by Claimants will be treated in the following manner: 1. Claims Submitted with Antiguan Liquidators or Receivers. There is a
proceeding pending in the courts of Antigua and Barbuda, in which those courts have appointed liquidators for Stanford International Bank, Ltd. and receivers for Stanford Trust Company Limited (an Antiguan entity controlled by R. Allen Stanford). A Claimant that has submitted evidence of a Claim with the Antiguan liquidators or receivers or that has a Claim as a
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beneficiary of a trust for which Stanford Trust Company Limited is the trustee will not be relieved from the obligation to submit a Proof of Claim evidencing such Claim in order to be entitled to receive a distribution from any of the Receivership Entities. This includes, but is not limited to, any claim registered through the Antiguan liquidators website
(https://stanford.frpadvisory.com/default.aspx) or with Vantis plc or any other representative of the Antiguan liquidators or receivers. The
liquidators in the Antiguan proceeding have made efforts to establish a form of claims process that is independent of the claims processes in this court. In addition, the receivers (who are the same individuals as the original Antiguan liquidators of Stanford International Bank, Ltd.) have said that they have established, within their claims procedure, a related procedure for claims through trusts for which Stanford Trust Company Limited is the trustee. The Receiver currently has no way of coordinating the information he has received with the information received by the Antiguan liquidators and receivers, and therefore requiring Claimants to also submit Proofs of Claim is necessary. 2. Claims Submitted on Receivers Website. A Claimant that, through the Receivers website (http://stanfordfinancialreceivership.com/claims.php), has submitted a Claimant Form asserting a Claim may, but is not required to, submit a Proof of Claim with respect to such Claim. If such a Claimant does not submit a Proof of Claim, the Claimant Form will be treated as a timely and sufficiently filed Proof of Claim. However, upon
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request from the Receiver, the Claimant may be required to submit additional supporting documentation in order for the Claim asserted in the Claimant Form to be allowed. Such requests will be made through the electronic mail address included on the Claimant Form. Beginning on the date the Bar Date Order is entered, Claimants shall not submit a Claimant Form but shall, instead, submit a Proof of Claim in accordance with the terms of the Bar Date Order. Supporting Documentation for Proof of Claim. Each Claimant should attach to each Proof of Claim copies of all documents available to the Claimant that could support such Proof of Claim. Such documentation may include, but is not limited to: copies of personal checks, cashiers checks, wire transfer advices, and other documents evidencing the investment of funds; copies of each signed investment contract; a chronological accounting of all money received by the Claimant from any Receivership Entity or the Receiver, whether such payments are denominated as the return of principal, interest, commissions, finders fee, sponsor payment, or otherwise; copies of all agreements, promissory notes, purchase orders, invoices, itemized statements of running accounts, contracts, court judgments, mortgages, security agreements, evidence of perfection of lien; and other documents evidencing the amount and basis of the Claim. If such supporting documentation is not available, the Claimant must attach to the Proof of Claim an explanation of why the documentation is unavailable. Depending upon the Claim review process ultimately employed by the Receiver, each Claimant will have to satisfy certain minimum standards in order to establish a Claim and receive a distribution. Accordingly, the more information a Claimant provides, the easier it will be for the Receiver to validate that Claimants Proof of Claim.
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Proof of Claim Must Identify Receivership Entity. Any Claimant holding Claims against more than one Receivership Entity must submit a separate Proof of Claim against each such Receivership Entity and identify on each Proof of Claim the particular Receivership Entity against which the Proof of Claim is asserted. This procedure will expedite the Receivers review of the Proofs of Claim and will not be unduly burdensome because Claimants should know which Receivership Entities they hold Claims against. In the future, it is possible that the Receiver or another party in interest may seek to consolidate some or all of the Receivership Entities; however, at this point in time no request for consolidation has been filed. As such, separate Proofs of Claim and the required supporting documentation are necessary to ensure that the Receiver has sufficient information to prepare a distribution plan regardless of whether the Receivership Entities are consolidated or remain separate entities. If multiple Proofs of Claim asserting the same Claim are submitted against several Receivership Entities, that fact will be relevant to the Receivers views regarding whether consolidation is appropriate. A Claimants failure to identify the correct Receivership Entity on a Proof of Claim Form may be grounds for objection to, and disallowance of, such Claimants Claims. However, a Claimant may submit Proofs of Claim against several or all of the Receivership Entities if, based upon a reasonable investigation, such Claimant believes that it holds a Claim against those Receivership Entities or is unsure which Receivership Entity it holds a Claim against. Effect of Failure to Submit Proof of Claim Before Bar Date. Any Claimant who is required to submit a Proof of Claim, but fails to do so in a timely manner or in the proper form, shall be forever barred, estopped, and enjoined to the fullest extent allowed by applicable law from asserting, in any manner, such Claim against the Receivership Entities and their respective
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property or estates; shall not be permitted to object to any distribution plan proposed by the Receiver on account of such Claim; shall be denied any distributions under any distribution plan implemented by the Receiver on account of such Claim; and shall not receive any further notices on account of such Claim. Further, the Receivership Entities and their respective property or estates will be discharged from any and all indebtedness or liability with respect to such Claim. The proposed Bar Date and Proof of Claim Form are not unduly burdensome or uncommon in matters of this nature. It is important to the efficient and orderly administration of the receivership that Claimants timely file their Proofs of Claim and that late-filed Proofs of Claim be disallowed. Establishment of the Bar Date is necessary in order for the Receiver to determine which persons are entitled to share in distributions under a plan. Proofs of Claim Processing and Verification. The Receiver has not yet decided whether to use manual or automated processing for the Proofs of Claim or how to reconcile Proofs of Claim with the books and records of the Receivership Entities. The Receiver has also not yet decided how to verify the Claims asserted in the Proofs of Claim. He is currently considering the use of certifications of truthfulness for all Proofs of Claim, an audit process for a sampling of smaller Proofs of Claim, and in-depth examination of larger Proofs of Claim. As such, the Receiver requests that he be authorized to employ any procedures he deems necessary, in his sole and absolute discretion but subject to review by, and concurrence of, the Investor Committee, for processing, reconciling, and verifying Proofs of Claim. Reservation of Rights. Nothing herein shall prejudice any right of the Receiver to dispute, or assert offsets or defenses as to the nature, amount, liability, classification, or otherwise against, any amounts asserted in any Proof of Claim. Nothing contained herein is intended to preclude the Receiver from objecting to any Proof of Claim on any grounds.
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VII. DISTRIBUTION CALCULATION METHODOLOGIES The ultimate goal in this case, which the establishment of the Bar Date will bring one step closer, is the approval of a plan of distribution that will, among other things, provide for distributions to Claimants based on the amount of their valid Claims. Relevant authorities permit the use of different methodologies to calculate distributions to holders of Claims arising out of investments. The Receiver has not decided which methodology is best suited for the circumstances of this case, although for investor claimants, the amount of the investors net investment in the ponzi scheme will be one of the most significant factors. A preferred choice may emerge by consensus after negotiations among interested parties. Furthermore, ultimate payment on any claims will take into account payments, if any, made pursuant to distribution plans, which may be implemented by relevant constituencies such as U.S. Dept. of Justice, SIPC and/or Liquidators appointed by any foreign court or governmental authority. For his current purposes, the Receiver needs to ensure that Claimants provide sufficient information to allow him to determine the amount and validity of their Claims using whichever method this Court ultimately directs him to employ.2 VIII. CONCLUSION AND PRAYER WHEREFORE, the Receiver respectfully requests that this Court grant this Motion and enter an order: (1) establishing the Bar Date by which Claimants must submit Proofs of Claim of any type (other than Administrative Claims) against any of the Receivership Entities; (2) approving the proposed form and manner of notice of the Bar Date and related procedures;
Any Claim submitted by INX will be treated in accordance with the Courts Order of November 4, 2011 [Doc. 1466].
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(3) approving the proposed Proof of Claim Form and procedures for submitting Proofs of Claim; and (4) granting such other and further relief as is appropriate. Dated: November 16, 2011 Respectfully submitted, BAKER BOTTS L.L.P. By: /s/ Kevin M. Sadler Kevin M. Sadler Texas Bar No. 17512450 kevin.sadler@bakerbotts.com Robert I. Howell Texas Bar No. 10107300 robert.howell@bakerbotts.com David T. Arlington Texas Bar No. 00790238 david.arlington@bakerbotts.com 1500 San Jacinto Center 98 San Jacinto Blvd. Austin, Texas 78701-4039 (512) 322-2500 (512) 322-2501 (Facsimile) Timothy S. Durst Texas Bar No. 00786924 tim.durst@bakerbotts.com 2001 Ross Avenue Dallas, Texas 75201 (214) 953-6500 (214) 953-6503 (Facsimile) ATTORNEYS FOR RECEIVER RALPH S. JANVEY
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CERTIFICATE OF CONFERENCE On November 15-16, 2011, counsel for the Receiver conferred or attempted to confer with the parties to this case. Counsel for the Receiver conferred with David Reece, counsel for the SEC, regarding this motion and sent a draft of same to the SEC on October 25, 2011. On November 16, 2011, Mr. Reece stated that the SEC is still reviewing the motion and will make a separate filing to advise the Court of its position. Counsel for the Receiver conferred with John Little, the Court-appointed Examiner, and with Peter Morgenstern, counsel for the Official Stanford Investors Committee, who stated that Investor Committee and Examiner are not in complete agreement with the Receiver on certain aspects of this Motion, including the timing of the filing of this Motion and will separately file responses to this Motion to address their concerns to the Court. Counsel for the Receiver attempted to confer with Stephen Cochell, counsel for R. Allen Stanford, but did not receive a response regarding Mr. Stanfords position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with Jeff Tillotson, counsel for Laura Pendergest-Holt, but did not receive a response regarding Ms. Pendergest-Holts position on this motion or the relief requested herein. Counsel for the Receiver conferred with Kenneth Johnston and Joseph Hummel, counsel for Trustmark National Bank, who stated that Trustmark takes no position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with Manuel P. Lena, Jr., counsel for the DOJ (Tax Division), but did not receive a response regarding the DOJ (Tax Division)s position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with David Finn, counsel for James Davis as indicated by the docket sheet in the above-captioned case but who has represented to counsel for the Receiver that he no longer represents Mr. Davis, but did not receive a response regarding Mr. Daviss position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with J. Randy Burton, counsel for Susan Stanford, but did not receive a response regarding Mrs. Stanfords position on this motion or the relief requested herein. Counsel for the Receiver conferred with Jason Brookner, counsel for HP Financial Services Venezuela C.C.A., who stated that HP takes no position on this motion or the relief requested herein. Counsel for the Receiver conferred with Andrew Warren, counsel for the DOJ (Fraud Division), who stated that the DOJ (Fraud Division) takes no position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with Gregg Anderson and John Helms, Jr., counsel for Mark Kuhrt, but did not receive a response regarding Mr. Kuhrts position on this motion or the relief requested herein. Counsel for the Receiver attempted to confer with Stephanie Curtis, counsel for INX, Inc., but did not receive a response regarding INXs position on this motion or the relief requested herein. The motion is, therefore, presumed to be opposed under Local Rule 7.1(b)(3). /s/ Kevin M. Sadler Kevin M. Sadler
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CERTIFICATE OF SERVICE On November 16, 2011, I electronically submitted the foregoing document with the clerk of the court of the U.S. District Court, Northern District of Texas, using the electronic case filing system of the Court. I hereby certify that I have served the Court-appointed Examiner, all counsel and/or pro se parties of record electronically or by another manner authorized by Federal Rule of Civil Procedure 5(b)(2). /s/ Kevin M. Sadler Kevin M. Sadler
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Case 3:09-cv-00298-N Document 1473-1
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IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Case No. 3:09-CV-0298-N STANFORD INTERNATIONAL BANK, LTD., ET AL., Defendants. _____________________________________________________________________________ ORDER (I) ESTABLISHING BAR DATE FOR CLAIMS; (II) APPROVING FORM AND MANNER OF NOTICE THEREOF; AND (III) APPROVING PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM _____________________________________________________________________________ Upon consideration of the Receivers Motion for Entry of an Order (I) Establishing Bar Date for Claims; (II) Approving Form and Manner of Notice Thereof; and (III) Approving Proof of Claim Form and Procedures for Submitting Proofs of Claim (the Motion), any responses or objections to the Motion, and any replies in support of the Motion, this Court finds that: the relief requested in the Motion is in the best interests of the Receivership Entities,1 potential Claimants, and all other parties; notice of the Motion was good and sufficient under the particular circumstances and that no other or further notice need be given; and based upon the record herein and after due deliberation it is hereby ORDERED THAT: 1. 2. respects. The Motion is GRANTED in all respects. All objections not withdrawn or resolved by this Order are overruled in all
Capitalized terms not defined herein shall have the meaning ascribed to them in the Motion.
ORDER (I) ESTABLISHING BAR DATE FOR CLAIMS; (II) APPROVING FORM AND MANNER OF NOTICE THEREOF; AND (III) APPROVING PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM
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ESTABLISHMENT OF A BAR DATE FOR CLAIMS; APPROVAL OF FORM AND MANNER OF NOTICE THEREOF; AND APPROVAL OF PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM 3. as: a. a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, mature, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured, against one or more of the Receivership Entities; or b. a right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured, against one or more of the Receivership Entities. 4. Claimants. For purposes of this Bar Date Order, a Claimant is defined as and Claims. For purposes of this Order (the Bar Date Order), a Claim is defined
includes any person or entity (including, without limitation, individuals, partnerships, corporations, estates, trusts, and governmental units) that holds a Claim. Without limiting the generality of the foregoing, the definition of Claimant includes, but is not limited to, any person or entity holding (1) a Claim based on any investment in a Receivership Entity, including an investment in a certificate of deposit issued by Stanford International Bank, Ltd. or any other Receivership Entity or (2) a Claim of any kind whatsoever against any Receivership Entity, including, without limitation, a Claim based on the provision of goods or services to any Receivership Entity and has not been paid in whole or in part therefor; money loaned to any Receivership Entity and has not been paid in whole or in part therefor; unpaid wages,
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compensation, or other employment benefits; tax liabilities, including those held by federal and state governments; primary, secondary, direct, indirect, secured, unsecured, or contingent liability; or contract, tort, indemnity, reimbursement, subrogation theories, or other legal or equitable theory. 5. Bar Date. This Court hereby establishes 5:00 p.m. (prevailing Central Time) on
the date that is 180 days after the entry of this Bar Date Order as the deadline for Claimants to submit Proofs of Claim against the Receivership Entities (the Bar Date). 6. Claims Procedures. The Claims Procedures, including the Bar Date Notice and
Proof of Claim Form (each defined further below), are approved: a. Eligibility to Submit a Proof of Claim. Proofs of Claim shall be submitted by all persons or entities (including, without limitation, individuals, partnerships, corporations, joint ventures, estates, trusts, and governmental units) that are Claimants and believe that they are owed any money by, or have a right to distribution from, any of the Receivership Entities, regardless of whether the Claim at issue has been acknowledged by the Receiver or whether the Claim at issue is held with or through any person or entity or based on primary, secondary, direct, indirect, secured, unsecured, or contingent liability. b. Administrative and Professional Claims. Creditors holding claims based on the provision of goods or services to the Receivership Entities or the Receiver (Administrative Claims) after the February 16, 2009 appointment of the Receiver are not required to submit proofs of claim on or before the Bar Date and will not be subject to the Bar Date.
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Additionally, the Receiver, his professionals, the Examiner, and the Investor Committee are not required to submit proofs of claim on or before the Bar Date, and all claims of the Receiver, his professionals, the Examiner, and the Investor Committee (Professional Claims) shall be addressed in accordance with prior orders of this Court. c. Notice. The Receiver shall provide the following notice: i. Notice by Mail. The Receiver shall serve by mail, within 30
business days of entry of this Order, (a) SIB CD accountholders who had a positive SIB CD account balance as of February 16, 2009 and for whom the Receiver has physical addresses from the books and records of SIB and (b) potential Claimants who have provided the Receiver with a physical address through (i) communications directed to the Receivers email address info@stanfordfinancialreceivership.com, (ii) the prior submission of a Claimant Form, or (iii) the prior submission of an Application for Review and Potential Release of Stanford Group Company Brokerage Accounts, with: (1) a notice of the Bar Date and the procedures for submitting proofs of claim, substantially in the form of the notice attached as Exhibit 2 to the Appendix in support of the Motion (the Bar Date Notice) and (2) a proof of claim form substantially in the form of the document attached as Exhibit 3 to the Appendix in support of the Motion (the Proof of Claim Form). With respect to the Claimants that meet the above
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requirements for notice by mail, the Receiver shall serve (a) those located within the United States by United States first class mail and (b) those located outside the United States by any method he deems reasonable in his sole and absolute discretion but subject to review by, and concurrence of, the Investor Committee. The Bar Date Notice and the Proof of Claim Form provide clear notice and instructions concerning the Claims Procedures. ii. Notice by Electronic Mail. In addition to notice by mail (if
required pursuant to the previous paragraph), where potential Claimants have provided an electronic mail address to the Receiver through (a) communications directed to the Receivers email address info@stanfordfinancialreceivership.com, (b) the prior submission of a Claimant Form, or (c) the prior submission of an Application for Review and Potential Release of Stanford Group Company Brokerage Accounts, the Receiver shall serve, within 30 business days of entry of the Bar Date Order, the Bar Date Notice and the Proof of Claim Form on such potential Claimants via the electronic mail address provided by them. iii. Notice by Publication. The Bar Date Notice and the Proof of Claim Form shall also be made available, within 10 calendar days of entry of the Bar Date Order, on the Receivers website
(www.stanfordfinancialreceivership.com) and on the website maintained by the Examiner (http://www.lpf-
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law.com/sub/stanford.jsp), and the Receiver and the Examiner shall issue, within 3 calendar days of entry of the Bar Date Order, press releases that include the Bar Date Notice and the Proof of Claim Form. The Receiver shall also publish, within 45 calendar days of entry of the Bar Date Order, a notice of the Bar Date and the procedures for submitting proofs of claim, substantially in the form of the notice attached as Exhibit 4 to the Appendix in support of the Motion (the Bar Date Publication Notice), in newspapers of general and local circulation, including The Wall Street Journal, Houston Chronicle, The New York Times, Financial Times, and other such publications that in the Receiver's sole and absolute discretion are reasonably calculated to provide notice to potential Claimants, on two days that are two weeks apart. iv. Notice Upon Inquiry. The Receiver shall promptly provide the Bar Date Notice and the Proof of Claim Form to any Claimant who makes a written request for such documents to the e-mail address info@stanfordfinancialreceivership.com or to the physical address Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079. d. Procedure for Submitting Proof of Claim. Except as otherwise provided by order of this Court or provided below, each Claimant shall submit a completed and signed Proof of Claim Form under penalty of perjury and evidencing such Claimants Claim, together with supporting
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documentation (a Proof of Claim), with the Receivers agent in the manner indicated below, so that such Proof of Claim Form is actually received on or before the Bar Date. Proofs of Claim shall be submitted to the Receivers agent (1) in person or by courier service, hand delivery, or mail addressed to Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079; (2) by electronic mail, as an attachment in portable document format (.pdf), to info@stanfordfinancialreceivership.com; or (3) by facsimile or by telecopy to (281) 368-2054. Proofs of Claim should not be filed with this Court, and any Proof of Claim so filed shall not be considered properly submitted. e. Prior Submissions by Claimants. Prior submissions by Claimants will be treated in the following manner: i. Claims Submitted with Antiguan Liquidators or Receivers. A
Claimant that has submitted evidence of a Claim with the Antiguan liquidators or receivers or that has a Claim as a beneficiary of a trust for which Stanford Trust Company Limited is the trustee shall submit a Proof of Claim evidencing such Claim in order to be entitled to receive a distribution from any of the Receivership Entities. This includes, but is not limited to, any claim registered through the Antiguan liquidators website
(https://stanford.frpadvisory.com/default.aspx) or with Vantis plc or any other representative of the Antiguan liquidators or receivers.
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ii.
Claims Submitted on Receivers Website. through the Receivers
A Claimant that, website has
(http://stanfordfinancialreceivership.com/claims.php),
submitted a Claimant Form asserting a Claim may, but is not required to, submit a Proof of Claim with respect to such Claim. If such a Claimant does not submit a Proof of Claim, the Claimant Form shall be treated as a timely and sufficiently filed Proof of Claim. However, upon request from the Receiver, the Claimant may be required to submit additional supporting documentation in order for the Claim asserted in the Claimant Form to be allowed. Such requests shall be made through the electronic mail address included on the Claimant Form. Beginning on the date this Bar Date Order is entered, Claimants shall not submit a Claimant Form but shall, instead, submit a Proof of Claim in accordance with the terms of this Bar Date Order. f. Supporting Documentation for Proof of Claim. Each Claimant should attach to each Proof of Claim copies of all documents available to the Claimant that could support such Proof of Claim. Such documentation may include, but is not limited to: copies of personal checks, cashiers checks, wire transfer advices, and other documents evidencing the investment of funds; copies of each signed investment contract; a chronological accounting of all money received by the Claimant from any Receivership Entity or the Receiver, whether such payments are
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denominated as the return of principal, interest, commissions, finders fee, sponsor payment, or otherwise; copies of all agreements, promissory notes, purchase orders, invoices, itemized statements of running accounts, contracts, court judgments, mortgages, security agreements, evidence of perfection of lien; and other documents evidencing the amount and basis of the Claim. If supporting documentation is not available, the Claimant shall attach to the Proof of Claim an explanation of why the documentation is unavailable. g. Proof of Claim Must Identify Receivership Entity. Any Claimant holding Claims against more than one Receivership Entity must submit a separate Proof of Claim against each such Receivership Entity and must identify on each Proof of Claim the particular Receivership Entity against which the Proof of Claim is asserted. A Claimants failure to identify the correct Receivership Entity on a Proof of Claim may be grounds for objection to, and disallowance of, such Claimants Claims. However, a Claimant may submit Proofs of Claim against several or all of the Receivership Entities if, based upon a reasonable investigation, such Claimant believes that it holds a Claim against those Receivership Entities or is unsure which Receivership Entity it holds a Claim against. h. Effect of Failure to Submit Proof of Claim Before Bar Date. Any
Claimant who is required to submit a Proof of Claim, but fails to do so in a timely manner or in the proper form, shall be forever barred, estopped, and enjoined to the fullest extent allowed by applicable law from asserting, in
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any manner, such Claim against the Receivership Entities and their respective property or estates; shall not be permitted to object to any distribution plan proposed by the Receiver on account of such Claim; shall be denied any distributions under any distribution plan implemented by the Receiver on account of such Claim; and shall not receive any further notices on account of such Claim. Further, the Receivership Entities and their respective property or estates shall be discharged from any and all indebtedness or liability with respect to such Claim. i. Proofs of Claim Processing and Verification. The Receiver is hereby authorized to employ any procedures he deems necessary, in his sole and absolute discretion but subject to review by, and concurrence of, the Investor Committee, to process and reconcile Proofs of Claim and to verify the Claims asserted in the Proofs of Claim. j. Reservation of Rights. Nothing herein shall prejudice any right of the Receiver to dispute, or assert offsets or defenses as to the nature, amount, liability, classification, or otherwise against, any amounts asserted in any Proof of Claim. Nothing contained herein is intended to preclude the Receiver from objecting to any Proof of Claim on any grounds.
Signed _____________________
____________________________________ Honorable David C. Godbey United States District Judge

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Filed 11/16/11
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Case No. 3:09-CV-0298-N STANFORD INTERNATIONAL BANK, LTD., ET AL., Defendants. ______________________________________________________________________________ APPENDIX IN SUPPORT OF RECEIVER'S MOTION FOR ENTRY OF AN ORDER (I) ESTABLISHING BAR DATE FOR CLAIMS; (II) APPROVING FORM AND MANNER OF NOTICE THEREOF; AND (III) APPROVING PROOF OF CLAIM FORM AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM _____________________________________________________________________________
Filed 11/16/11
Dated: November 16, 2011
Respectfully submitted, BAKER BOTTS L.L.P. By: /s/ Kevin M. Sadler Kevin M. Sadler Texas Bar No. 17512450 kevin.sadler@bakerbotts.com Robert I. Howell Texas Bar No. 10107300 robert.howell@bakerbotts.com David T. Arlington Texas Bar No. 00790238 david.arlington@bakerbotts.com 1500 San Jacinto Center 98 San Jacinto Blvd. Austin, Texas 78701-4039 (512) 322-2500 (512) 322-2501 (Facsimile) Timothy S. Durst Texas Bar No. 00786924 tim.durst@bakerbotts.com 2001 Ross Avenue Dallas, Texas 75201 (214) 953-6500 (214) 953-6503 (Facsimile) ATTORNEYS FOR RECEIVER RALPH S. JANVEY
Filed 11/16/11
CERTIFICATE OF SERVICE On November 16, 2011, I electronically submitted the foregoing document with the clerk of the court of the U.S. District Court, Northern District of Texas, using the electronic case filing system of the Court. I hereby certify that I have served the Court-appointed Examiner, all counsel and/or pro se parties of record electronically or by another manner authorized by Federal Rule of Civil Procedure 5(b)(2). /s/ Kevin M. Sadler Kevin M. Sadler
Filed 11/16/11
Exhibit 1 Stanford Receivership Entities
Filed 11/16/11
Receivership Entities
Antigua Athletic Club Limited Bank of Antigua Limited Caribbean Sun Airlines Holdings, Inc. Christiansted Downtown Holdings, LLC JS Development, LLC Maiden Island Holdings Ltd. Productos y Servicios Stanford, C.A. R. Allen Stanford, LLC SFG Majestic Holdings, LLC Stanford 20*20, LLC Stanford Agency, Inc. [Louisiana]1 Stanford Agency, Inc. [Texas] Stanford Aircraft, LLC Stanford American Samoa Holding Limited Stanford Aviation 5555, LLC Stanford Aviation II, LLC Stanford Aviation III, LLC Stanford Aviation Limited Stanford Aviation LLC Stanford Bank (Panama), S.A.2 Stanford Bank Holdings Limited Stanford Bank, S.A. Banco Comercial Stanford Capital Management, LLC Stanford Caribbean Investments, LLC Stanford Casa de Valores, S.A. Stanford Coins & Bullion, Inc. Stanford Corporate Holdings International, Inc. Stanford Corporate Services (Venezuela), C.A. Stanford Development Company Limited Stanford Development Corporation Stanford Family Office, LLC Stanford Financial Group Company Stanford Financial Group Global Management, LLC Stanford Financial Group Limited Stanford Fondos, S.A. de C.V. Stanford Global Advisory, LLC Stanford Group (Antigua) Limited Stanford Group (Suisse) AG Stanford Group Aruba, N.V. Stanford Group Casa de Valores, S.A. Stanford Group Company Stanford Group Holdings, Inc. Stanford Group Mexico, S.A. de C.V. Stanford Group Peru, S.A., Sociedad Agente de Bolsa Stanford Group Venezuela Asesores de Inversion, C.A. Stanford Holdings Venezuela, C.A. Stanford International Bank Limited Stanford Real Estate Acquisition, LLC Stanford S.A. Comisionista de Bolsa Stanford Services Ecuador, S.A. Stanford Trust Company Stanford Trust Company Administradora de Fondos y Fideicomisos S.A. Stanford Trust Company Limited Stanford Venture Capital Holdings, Inc. Sun Printing & Publishing Limited The Island Club, LLC The Islands Club, Ltd. The Stanford Financial Group Building, Inc. The Sticky Wicket Limited Torre Senza Nome Venezuela, C.A. Trail Partners, LLC 16NE Huntingdon, LLC 20/20 Ltd. Apartment Household, Inc. Asian Village Antigua Limited Boardwalk Revitalization, LLC Buckingham Investments A.V.V. Caribbean Aircraft Leasing (BVI) Limited
Filed 11/16/11
Caribbean Airlines Services Limited Caribbean Airlines Services, Inc. Caribbean Star Airlines Holdings Limited Caribbean Star Airlines Limited Casuarina 20 LLC Crayford Limited Cuckfield Investments Limited Datcom Resources, Inc. Devinhouse, Ltd. Deygart Holdings Limited Foreign Corporate Holdings Limited Guardian International Investment Services No. One, Inc. Guardian International Investment Services No. Two, Inc. Guardian International Investment Services No. Three, Inc. Guardian One, Ltd. Guardian Two, Ltd. Guardian Three, Ltd. Guiana Island Holdings Limited Harbor Key Corp. Harbor Key Corp. II Idea Advertising Group, Inc. International Fixed Income Stanford Fund, Ltd. Miller Golf Company, L.L.C. Parque Cristal Ltd. Pelican Island Properties Limited Pershore Investments S.A. Polygon Commodities A.V.V. Porpoise Industries Limited Robust Eagle Limited Sea Eagle Limited Sea Hare Limited SG Ltd. SGV Asesores C.A. SGV Ltd. Stanford 20/20 Inc.
Stanford Acquisition Corporation Stanford Aerospace Limited Stanford Agresiva S.A. de C.V. Stanford Caribbean Regional Management Holdings, LLC Stanford Caribbean, LLC Stanford Cobertura, S.A. de C.V. Stanford Corporate Services (BVI) Limited Stanford Corporate Services, Inc. Stanford Corporate Ventures (BVI) Limited Stanford Corporate Ventures, LLC Stanford Crecimiento Balanceado, S.A. de C.V. Stanford Crecimiento, S.A. de C.V. Stanford Development Company (Grenada) Ltd Stanford Eagle, LLC Stanford Financial Group (Holdings) Limited Stanford Financial Group Ltd. Stanford Financial Partners Advisors, LLC Stanford Financial Partners Holdings, LLC Stanford Financial Partners Securities, LLC Stanford Financial Partners, Inc. Stanford Galleria Buildings Management, LLC Stanford Gallows Bay Holdings, LLC Stanford Group Bolivia Stanford Group Company Limited Stanford Group Venezuela, C.A. Stanford International Bank Holdings Limited Stanford International Holdings (Panama) S.A. Stanford International Management Ltd. Stanford International Resort Holdings, LLC Stanford Investment Advisory Services, Inc. Stanford Leasing Company, Inc. Stanford Management Holdings, Ltd. Stanford South Shore Holdings, LLC Stanford Sports & Entertainment Holdings, LLC Stanford St. Croix Marina Operations, LLC Stanford St. Croix Resort Holdings, LLC
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Stanford St. Croix Security, LLC Stanford Trust Holdings Limited Sun Printing Limited The Antigua Sun Limited The Stanford Condominium Owners Association, Inc.
The Stanford Galleria Buildings, LP Torre Oeste Ltd. Two Islands One Club (Grenada) Ltd Two Islands One Club Holdings Ltd
Locations in brackets are included to differentiate between legal entities with the same name but different locations or other identifying information. 2 Locations in parentheses are included in the legal name of an entity or other identifying information.
Filed 11/16/11
Exhibit 2 Bar Date Notice
Filed 11/16/11
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Case No. 3:09-CV-0298-N STANFORD INTERNATIONAL BANK, LTD., ET AL., Defendants. _____________________________________________________________________________ NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM _____________________________________________________________________________ TO: ALL CLAIMANTS OF THE STANFORD RECEIVERSHIP ENTITIES PLEASE TAKE NOTICE OF THE FOLLOWING: On [_________], the United States District Court for the Northern District of Texas Dallas Division (the District Court) entered an order in the above-captioned case (the Bar Date Order) establishing [_________], at 5:00 p.m. (prevailing Central Time) as the deadline (the Bar Date) for certain claimants to submit a completed and signed Proof of Claim Form under penalty of perjury and evidencing such claimants claim, together with supporting documentation (a Proof of Claim), against the Defendants in the above-captioned case1 and all the entities they own or control (collectively, the Receivership Entities).2 1. WHAT IS THE BAR DATE?
The Bar Date is the date by which the individuals and entities described below must submit a Proof of Claim with the Receivers agent in the manner indicated below. The Bar Date is [___________], at 5:00 p.m. (prevailing Central Time), and all Proofs of Claim must be actually received on or before that deadline. Please note that any Proof of Claim submitted after
1
The Defendants include: Stanford International Bank, Ltd.; Stanford Group Company; Stanford Capital Management, LLC; Robert Allen Stanford; James M. Davis; Laura Pendergest-Holt; Stanford Financial Group Company; and The Stanford Financial Group Building, Inc.
The Receivership Entities include, without limitation: Stanford International Bank, Ltd.; Stanford Financial Group Company; Stanford Group Company; Stanford Trust Company; Stanford Capital Management, LLC; Stanford Coins & Bullion, Inc.; and the entities listed in Exhibit 1 to the Appendix in support of the Receivers Motion for Entry of an Order (I) Establishing Bar Date for Claims; (II) Approving Form and Manner of Notice Thereof; and (III) Approving Proof of Claim Form and Procedures for Submitting Proofs of Claim filed with the District Court in the above-captioned case [Doc. [___________]] and on the Receivers website at http://stanfordfinancialreceivership.com/. NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM 1
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the Bar Date will be subject to disallowance, which means that you would not receive any distribution from the Receiver or the Receivership Entities. 2. WHO NEEDS TO SUBMIT A PROOF OF CLAIM?
All persons or entities (including, without limitation, individuals, partnerships, corporations, joint ventures, estates, trusts, and governmental units) that believe they possess a right to payment, or a claim of any nature, against any of the Receivership Entities and believe that they are owed any money by, or are entitled to a distribution from, any of the Receivership Entities must submit a Proof of Claim, regardless of whether such claim has been acknowledged by the Receiver (each a Claimant). Claimants include, but are not limited to, the following: any person or entity that holds a claim based on any investment in a Receivership Entity, including an investment in a certificate of deposit issued by Stanford International Bank, Ltd. or any other Receivership Entity; any person or entity that has a claim based on the provision of goods or services to any Receivership Entity and has not been paid in whole or in part therefor; any person or entity who has a claim based on money loaned to any Receivership Entity and has not been paid in whole or in part therefor; any employees of any Receivership Entity who have a claim for unpaid wages, compensation, or benefits; any person or entity, including federal or state governmental units, that have tax claims against any Receivership Entity; any person or entity with a claim against any Receivership Entity based on primary, secondary, direct, indirect, secured, unsecured, or contingent liability; or any person or entity holding a claim of any sort against any Receivership Entity based on contract, tort, indemnity, reimbursement, subrogation theories, or other legal or equitable theory.
This notice is being sent to many persons and entities that have had some relationship or have done business with the Receivership Entities. The fact that you have received this notice does not necessarily mean that you are a Claimant, that you have a valid claim, or that the District Court or the Receiver believes you have a claim against the Receivership Entities.
NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM
Filed 11/16/11
3.
DO I NEED TO SUBMIT A PROOF OF CLAIM IF I HAVE PREVIOUSLY SUBMITTED EVIDENCE OF A CLAIM?
There is a proceeding pending in the courts of Antigua and Barbuda, in which those courts have appointed liquidators for Stanford International Bank, Ltd. and receivers for Stanford Trust Company Limited (an Antiguan entity controlled by R. Allen Stanford). A Claimant that has submitted evidence of a Claim with the Antiguan liquidators or receivers or that has a Claim as a beneficiary of a trust for which Stanford Trust Company Limited is the trustee must submit a Proof of Claim evidencing such Claim in order to be entitled to receive a distribution from any of the Receivership Entities. This includes, but is not limited to, any claim registered through the Antiguan liquidators website (https://stanford.frpadvisory.com/default.aspx) or with Vantis plc or any other representative of the Antiguan liquidators or receivers. A Claimant that has previously submitted a Claimant Form through the Receivers website (http://stanfordfinancialreceivership.com/claims.php) may, but is not required to, submit a Proof of Claim with respect to such Claim. If such a Claimant does not submit a Proof of Claim, the Claimant Form will be treated as a timely and sufficiently filed Proof of Claim. However, upon request from the Receiver, the Claimant will be required to submit additional supporting documentation in order for the claim asserted in the Claimant Form to be allowed. Beginning on [_________], the date the Bar Date Order was entered, Claimants shall not submit a Claimant Form but shall, instead, submit a Proof of Claim in accordance with the terms of the Bar Date Order. 4. WHAT ARE THE CONSEQUENCES OF NOT SUBMITTING A PROOF OF CLAIM?
ANY CLAIMANT WHO IS REQUIRED TO SUBMIT A PROOF OF CLAIM, BUT THAT FAILS TO DO SO IN A TIMELY MANNER OR IN THE PROPER FORM, WILL BE FOREVER BARRED, ESTOPPED, AND ENJOINED TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW FROM ASSERTING, IN ANY MANNER, SUCH CLAIM AGAINST THE RECEIVERSHIP ENTITIES AND THEIR RESPECTIVE PROPERTY OR ESTATES; WILL NOT BE PERMITTED TO OBJECT TO ANY DISTRIBUTION PLAN PROPOSED BY THE RECEIVER ON ACCOUNT OF SUCH CLAIM; WILL BE DENIED ANY DISTRIBUTIONS UNDER ANY DISTRIBUTION PLAN IMPLEMENTED BY THE RECEIVER ON ACCOUNT OF SUCH CLAIM; AND WILL NOT RECEIVE ANY FURTHER NOTICES ON ACCOUNT OF SUCH CLAIM. FURTHER, THE RECEIVERSHIP ENTITIES AND THEIR RESPECTIVE PROPERTY OR ESTATES WILL BE DISCHARGED FROM ANY AND ALL INDEBTEDNESS OR LIABILITY WITH RESPECT TO SUCH CLAIM. 5. WHERE CAN I GET A COPY OF THE PROOF OF CLAIM FORM?
For your convenience, enclosed with this notice is a Proof of Claim Form. A copy of the Proof of Claim Form is also available on the Receivers website for this case at http://stanfordfinancialreceivership.com/ and on the examiners website for this case at http://www.lpf-law.com/sub/stanford.jsp. The Receiver will also provide this notice and the
NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM 3
Filed 11/16/11
Proof of Claim Form to any potential Claimant who makes a written request for such documents to the e-mail address info@stanfordfinancialreceivership.com or to the physical address Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079. 6. HOW DO I SUBMIT MY PROOF OF CLAIM?
A completed and signed Proof of Claim, together with supporting documentation, must be submitted to the Receivers agent, so as to be actually received no later than [_______], at 5:00 p.m. (prevailing Central Time). Proofs of Claim must be submitted to the Receivers agent (1) in person or by courier service, hand delivery, or mail addressed to Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079; (2) by electronic mail, as an attachment in portable document format (.pdf), to info@stanfordfinancialreceivership.com; or (3) by facsimile or by telecopy to (281) 368-2054. Proofs of Claim will only be deemed submitted when actually received by the Receivers agent, and therefore please allow sufficient time for delivery. Proofs of Claim should not be filed with the District Court, and any Proof of Claim so filed will not be considered properly submitted. If you have a claim against more than one Receivership Entity, you must submit a separate Proof of Claim against each such Receivership Entity and identify on each Proof of Claim the particular Receivership Entity against which the Proof of Claim is asserted. Your failure to identify the correct Receivership Entity on a Proof of Claim Form may be grounds for objection to, and disallowance of, the claim. However, you may submit Proofs of Claim against several or all of the Receivership Entities if, based upon a reasonable investigation, you believe that you hold a claim against those Receivership Entities or you are unsure which Receivership Entity you hold a claim against. 7. SUPPORTING DOCUMENTS
You should attach to each Proof of Claim copies of all documents available to you that could support your claim. Such documentation may include, but is not limited to: copies of personal checks, cashiers checks, wire transfer advices, and other documents evidencing your investment of funds; copies of each signed investment contract; and a chronological accounting of all money you received from any Receivership Entity or the Receiver, whether such payments are denominated as the return of principal, interest, commissions, finders fee, sponsor payment, or otherwise; copies of all agreements, promissory notes, purchase orders, invoices, itemized statements of running accounts, contracts, court judgments, mortgages, security agreements, evidence of perfection of lien; and other documents evidencing the amount and basis of your Claim. Depending upon the Claim review process ultimately employed by the Receiver, you will have to satisfy certain minimum standards in order to establish a Claim and receive a distribution. Accordingly, the more information you provide, the easier it will be for the Receiver to validate your Proof of Claim.
NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM 4
Filed 11/16/11
DO NOT SEND ORIGINAL DOCUMENTS. If such supporting documentation is not available, please explain why in an addendum that is attached to your Proof of Claim. 8. CONSENT TO JURISDICTION
If you submit a Proof of Claim in this case, you consent to the jurisdiction of the District Court for all purposes and agree to be bound by its decisions, including, without limitation, a determination as to the validity and amount of any claims asserted against the Receivership Entities. In submitting a Proof of Claim, you agree to be bound by the actions of the District Court even if that means your claim is limited or denied. 9. RESERVATION OF RIGHTS
The Receiver reserves the right to dispute, or assert offsets or defenses as to the nature, amount, liability, classification, or otherwise against, any amounts asserted in any Proof of Claim. Nothing set forth in this notice or the Proof of Claim Form shall preclude the Receiver from objecting to any Proof of Claim on any grounds.
Dated this [__] day of [__________]. BY ORDER OF THE HONORABLE DAVID GODBEY UNITED STATES DISTRICT COURT JUDGE BAKER BOTTS L.L.P. [TO COME] ATTORNEYS FOR RECEIVER RALPH S. JANVEY
NOTICE OF BAR DATE AND PROCEDURES FOR SUBMITTING PROOFS OF CLAIM
10
Filed 11/16/11 Exhibit 3
Proof of Claim Form
11

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS (DALLAS DIVISION)
Filed 11/16/11

[For Receivers use only]
PROOF OF CLAIM NO. _______

RECEIVERS AGENT: Submit your Proof of Claim and supporting documentation to the Receivers agent: (1) in person or by courier service, hand delivery, or mail addressed to Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079; (2) by electronic mail, as an attachment in portable document format (.pdf), to info@stanfordfinancialreceivership.com; or (3) by facsimile or by telecopy to (281) 368-2054. 2. ENTITY WITH WHOM CLAIM WAS INCURRED (SUBMIT SEPARATE CLAIMS AGAINST EACH ENTITY):
Stanford International Bank, Ltd. Stanford Group Company Stanford Capital Management, LLC Stanford Trust Company Stanford Financial Group Company Stanford Coins & Bullion, Inc. Other: _________________________
SEC v. Stanford International Bank, Ltd., et al. Case No. 3:09-CV-0298-N
1. CLAIMANT INFORMATION:
Name: _______________________________________________ Address: _____________________________________________ City, State, Zip: _______________________________________ Telephone: ___________________________________________ Account Number (if any): _______________________________
3. BASIS FOR CLAIM (CHECK ALL APPLICABLE):

Investment in Stanford International Bank, Ltd. certificate(s) of deposit Other investment Services performed Money loaned Taxes Wages, salaries, or compensation (fill out below) Your SS#: ______________________________ Unpaid compensation for services performed from ________________ to ________________ (dates) Other: __________________________________ (describe or provide additional information on attached sheet)
4. SECURED CLAIM:
Secured Party. Check this box if you contend your claim is subject to a security interest. Attach copies of all documents that evidence the claim of secured status, including promissory notes, mortgages, security agreements, and evidence of perfection of lien.
BRIEF DESCRIPTION OF COLLATERAL: Real Estate Motor Vehicle Other: _______________________________ (please describe) ASSERTED VALUE OF COLLATERAL: $_________________
5. TOTAL AMOUNT OF CLAIM: $_______________________ 6. DATE(S) DEBT WAS INCURRED: ______________________ 7. IF COURT JUDGMENT, DATE OBTAINED: _________________
8. IF LEGAL ACTION PENDING, DATE COMMENCED, COURT NAME, AND CASE NO.: _______________________________________ 9. SUPPORTING DOCUMENTATION: Please attach to your Proof of Claim Form copies of all documents available to you that support your claim, including but not limited to, copies of personal checks, cashiers checks, wire transfer advices, and other documents evidencing the investment of funds, copies investment contracts, a chronological accounting of all money received from any receivership entity or the receiver, copies of all agreements, promissory notes, purchase orders, invoices, itemized statements of running accounts, contracts, court judgments, mortgages, security agreements, evidence of perfection of lien, and other documents evidencing the amount and basis of the Proof of Claim. DO NOT SEND ORIGINAL DOCUMENTS. If such documentation is not available, please attach an explanation of why the documents are unavailable. 10. VERIFICATION OF CLAIMS: All Proofs of Claim submitted are subject to verification by the Receiver and approval by the Court. It is important to provide complete and accurate information to facilitate this effort. Claimants may be asked to supply additional information to complete this process. 11. CONSENT TO JURISDICTION: By submitting your Proof of Claim, you consent to the jurisdiction of the United States District Court for the Northern District of Texas for all purposes and agree to be bound by its decisions, including, without limitation, a determination as to the validity and amount of any claims asserted against the Receivership Entities. In submitting your Proof of Claim, you agree to be bound by the actions of the United States District Court for the Northern District of Texas even if that means your claim is limited or denied. 12. DATED: 13. SIGNATURE: Sign and print the name and title, if any, of all claimants or other persons authorized to submit this claim (attach a copy of power of attorney, death certificate, or other document as needed).
Pursuant to 28 U.S.C. 1746, I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct and that any supporting documentation provided is also true and correct. Signature: ________________________________________________________ Printed Name: _____________________________________________________ Title: ____________________________________________________________
12
Filed 11/16/11 Exhibit 4
Bar Date Publication Notice
13
Filed 11/16/11
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. STANFORD INTERNATIONAL BANK, LTD., ET AL., Defendants.
Case No. 3:09-CV-0298-N
NOTICE OF LAST DAY TO SUBMIT CLAIMS

TO ANY CLAIMANTS OF THE RECEIVERSHIP ENTITIES LISTED IN THE BOX BELOW
PLEASE TAKE NOTICE THAT the United States District Court for the Northern District of Texas has entered an order establishing _____ __, 2011, at 5:00 p.m. (prevailing Central Time) (the Bar Date) as the last date for each person or entity (including individuals, partnerships, corporations, joint ventures, trusts and governmental units) who asserts a claim (collectively, Claimants) against any of the Receivership Entities listed in the box below to submit a Proof of Claim. Receivership Entities Stanford International Bank, Ltd. Stanford Trust Company Stanford Group Company Stanford Financial Group Company Stanford Capital Management, LLC Stanford Coins & Bullion, Inc. The list above contains only the more significant of the Receivership Entities. A complete list of the Receivership Entities is available at http://stanfordfinancialreceivership.com/ or by contacting the Receivers agent at the address listed herein. Claimants must identify on their Proof of Claim the particular Receivership Entity against which their claim is asserted. If a Claimant has claims against multiple Receivership Entities, the Claimant must submit a separate claim with respect to each Receivership Entity. The Receivership Entities are listed in the box above. The Bar Date and claims filing procedures set forth below apply to all claims against the Receivership Entities that arose prior to February 16, 2009, the date the Receiver was appointed. If you believe any of the Receivership Entities may owe you money, you should consider filing a claim before the applicable Bar Date. Holders of claims that arose after February 16, 2009 are not required to submit a Proof of Claim at this time. WHO MUST SUBMIT A PROOF OF CLAIM You MUST submit a proof of claim if you have a claim against any of the Receivership Entities that arose prior to February 16, 2009. Claimants that must submit a proof of claim prior to the Bar Date include, but are not limited to, the following: (1) any person or entity that holds a claim based on any investment in a Receivership Entity, including an investment in a certificate of deposit issued by Stanford International Bank, Ltd. or any other Receivership Entity; (2) any person or entity that has a claim based on the provision of goods or services to any Receivership Entity and has not been paid in whole or in part therefor; (3) any person or entity who has a claim based on money loaned to any Receivership Entity and has not been paid in whole or in part therefor; (4) any employees of any Receivership Entity who have a claim for unpaid wages, compensation, or benefits; (5) any person or entity, including federal or state governmental units, that have tax claims against any Receivership Entity; (6) any person or entity with a claim against any Receivership Entity or any entity under their control based on primary, secondary, direct, indirect, secured, unsecured, or contingent liability; and (7) any person or entity holding a claim of any sort against any Receivership Entity or any entity under their control based on contract, tort, indemnity, reimbursement, subrogation theories, or other legal or equitable theory. This includes any claim based on acts or omissions of Receivership Entities that occurred before February 16, 2009, even if those claims are not now fixed, liquidated, or certain and did not mature or become fixed, liquidated or certain before that date. WHO DOES NOT NEED TO SUBMIT A PROOF OF CLAIM: Administrative Claimants that provided goods or services to the Receivership Entities or the Receiver after the Receiver was appointed on February 16, 2009, are not required to submit a proof of claim prior to the Bar Date. Claimants that have previously submitted a Claimant Form through the Receivers website (http://stanfordfinancialreceivership.com/claims.php) are not required to submit a proof of claim prior to the Bar Date but may wish to do so in order to provide additional information to the Receiver. Beginning on [_________], the date the Court entered the order setting the Bar Date, Claimants shall not submit a Claimant Form but shall, instead, submit a Proof of Claim in accordance with the terms of the Courts Bar Date Order. WHEN AND WHERE TO SUBMIT A PROOF OF CLAIM Proofs of claim must be submitted so as to be ACTUALLY RECEIVED on or before _____ __, 2011 at 5:00 p.m. (prevailing Central Time) by the Receivership Entities agent in the following manner: (1) in person or by courier service, hand delivery, or mail addressed to Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079; (2) by electronic mail, as an attachment in portable document format (.pdf), to info@stanfordfinancialreceivership.com; or (3) by facsimile or by telecopy to (281) 368-2054. CONSEQUENCES OF FAILURE TO SUBMIT A PROOF OF CLAIM BY THE BAR DATE If, as described in this notice, you are required to submit a proof of claim but do not do so on or before the Bar Date of ___________ __, 2011, at 5:00 p.m. (prevailing Central Time) you will be forever barred, estopped, and enjoined, to the fullest extent allowed by applicable law from asserting any claim you hold or wish to assert against the Receivership Entities (or filing a proof of claim with respect to such claim), the Receivership Entities and their property will be forever discharged from any and all indebtedness and liability with respect to that claim, and you will not be permitted to participate in any distribution in the Receivership Entities distribution process on account of that claim, or to receive further notices regarding that claim. You may wish to consult an attorney concerning this matter. To obtain additional information and a Proof of Claim Form call: (866) 964-6301 MondayFriday, 9:00 a.m. 5:00 p.m. (prevailing Central Time). Or write to: Stanford Financial Group Receivership, 1029 State Highway 6 North, Suite 650 #272, Houston, TX 77079. Or email to: info@stanfordfinancialreceivership.com. A copy of the Bar Date Order, Proof of Claim Form, instructions, and additional information for potential claimants is available at http://stanfordfinancialreceivership.com/
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1474 Receiver Motion To Establish Bar Date For Claims

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(www.stanfordfinancialreceivership.com) and on the website maintained by the Examiner (http://www.lpf-

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Claims Submitted on Receivers Website. through the Receivers

A Claimant that, website has

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____________________________________ Honorable David C. Godbey United States District Judge

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