UPDATE 6/28/10
ON JUNE 25, 2010, FRANCES GECKER, THE CHAPTER 11 TRUSTEE, MAILED DISTRIBUTION CHECKS TO THE CONSUMER CREDITORS WITH ALLOWED CLAIMS. THE CHAPTER 11 TRUSTEE DISTRIBUTED $2.5 MILLION. CONSUMER CREDITORS RECEIVED APPROXIMATELY 25% OF THEIR ALLOWED CLAIM. THERE LIKELY WILL BE A SECOND DISTRIBUTION OF FUNDS WITHIN THE NEXT TWO YEARS. IF YOU HAVE QUESTIONS, YOU MAY CONTACT THE CHAPTER 11 TRUSTEE IN WRITING AS FOLLOWS: FRANCES GECKER, FRANK/GECKER LLP, 325 N. LASALLE, SUITE 625, CHICAGO, ILLINOIS 60654.
UPDATE 5/27/10
IF YOU RECEIVED AN OBJECTION TO YOUR PROOF OF CLAIM FROM THE TRUSTEE AND YOU HAVE NOT RESPONDED, YOU MUST RESPOND BY JUNE 10, 2010 BY CONTACTING THE TRUSTEE. IF YOU DO NOT RESPOND, THE TRUSTEE WILL ASK THE BANKRUPTCY COURT TO DISALLOW OR REDUCE YOUR CLAIM.
UPDATE 4/9/10
AUTOMOTIVE PROFESSIONAL, INC.’S PLAN CONFIRMED
Notice of Confirmation [Click here for a copy of the Confirmation Notice]
Entry of the Confirmation Order. [Click here for a copy of the Confirmation Order] On March 26, 2010 the Bankruptcy Court entered an order confirming the Joint Liquidation Plant of Automotive Professional, Inc (the "Plan"). On April 9, 2010, the order confirming the Plan became a final unappealable order.
Marathon Settlement. Pursuant to the Plan, the Trustee and Marathon Financial Insurance Co, Inc., RRG ("Marathon") entered into an agreement wherein: Marathon will continue to process and pay all valid claims in Illinois, Nebraska, North Carolina, Oregon, Texas, Utah, Virginia and Washington; Marathon will pay $1.1 million to the Trustee over two years; and Marathon released any rights it may have to the certain funds held by the Trustee.
Payment of Consumer Claims. The Plan provides for a pro rata distribution of $2.5 million in cash to consumers that hold valid claims against API ("Consumer Claims").
Status of Consumer Claims. All Consumer Claims filed on or before March 26, 2010 were deemed timely filed by an order entered on April 6, 2010. [Click here for a copy of the Claims Order] The Consumers Claims total approximately $10 million dollars. The Trustee is currently reviewing the Consumer Claim, and will notify Consumer Claims holders on or before August 13, 2010, if there are objections to their Consumer Claims.
Disbursement on Consumer Claims. The Trustee anticipates that disbursement on valid Consumer Claims will occur in late June 2010.
Status of Pending Litigation. Trustee will continue to litigate her declaratory judgment action against Westchester Fire Insurance Company. The Trustee will make a distribution to holders of allowed general unsecured claims from the litigation recoveries, if any.
UPDATE 10/01/09
CONSUMERS WITH UNEXPIRED VEHICLE SERVICE
CONTRACTS AS OF 1/01/09
If your service contract had not expired as of January 1, 2009, your contract is covered under one of the court-approved settlements between the Trustee and various insurers and dealers. THIS DOES NOT INCLUDE GUARANTEED PRICE REFUND CONTRACTS. To determine how to make a repair claim under your unexpired service contract:
- For contracts insured by First Colonial/Northbrook, Travelers/Gulf, or Ohio Indemnity please click in the links above.
- For contracts issued by a dealers in Texas, Illinois, North Carolina, Nebraska, Oregon, Utah, Virginia and Washington
Call 1-800-205-8988
[Click here for a list of those contracts].
- For contracts bought over the telephone (not from a dealer)
Call 1-800-205-8988
[Click here for a list of those contracts]
- Any other service repair claim
Call 1-866-433-2296
[Click here (UCC PDF) for a list of those contracts]
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