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TFC Commodity Trading Forum

Re: Corzine Ordered Funds Moved to JPMorgan/Way/TD

Hi TD,

I hear you. They got me back 72% and the trustee has asked the bankrucpty judge to allow a distribution based on claims to get us back to 80%. I am thinking that after bankrucpty runs its course maybe a little more.

I posted before that I worked for a telecom that went bankrucpt. Got layed off 2 months before bankrucpty and when they declared bankrucpty the severance stopped almost immediately. About 3 or 4 weeks ago just got a document that my claim for the severance was modified and allowed. Is all that meant was it appears my claim was valid, but did not guarantee a penney after all assets were sold. Called one of the lawyers to check to make sure my interpretation of the document was correct and he said yes. I told him this is now over three years and does he have any idea when bankrucpty will finish, and if we will get anything. He said no he could not say, but it did not appear anything is eminent. Bottom line is bankrucpty is a bit%$#h, and the longer it is drawn out the more cash goes to the bankrucpty lawyers. I am sure they earn it, but hate to see money chewed up and go to the lawyers when it can be going to the those with valid claims.

Anyhow you are right and sometimes you take a wipping and have to move on.