I appreciate the court file that was given to Emile, Jeanette and I, but I had my lawyer look at the document and we are not able to be a part of this judgement. So, if anyone hears of a new notice I would appreciate communication as will I let everyone know if I hear anything. This is what my lawyer stated:
The court file has been "sealed" by the Judge, which means (at least in our federal courts here in Iowa) that no one but the parties to the lawsuit and their attorneys can get access to the documents filed.
Anyway, the Order essentially prevents the defendants (temporarily) from continuing to do business, freezes their assets so they can't transfer property, and appoints a company as a temporary "receiver" to take charge of the business of the defendants.
It appears there will be a lot more proceedings before the situation is sorted out. Eventually I would anticipate that, if there are any assets available, there might be a notice given to people who have invested in Defendants' ventures, so that those people could file an official claim showing that they had invested money and did not get anything for it. Again, to the extent there are assets available, each person who has a legitimate claim might get something, probably on a proportionate basis. (It would be similar to a bankruptcy, where creditors who don't have a mortgage or other security (called unsecured creditors) may get some of the money owed by the person filing bankruptcy, but usually not much. That process will likely take more than a year.
The only thing I can think of to do is to continue to monitor the web sites you've looked at, because that is probably the easiest way to find out when any new developments occur. There's nothing in this Order that establishes a procedure for people who have been cheated to make claims. I would expect that at some point such a procedure will be established, again if there are assets. If/when there is an opportunity to make a claim, it is likely you will have 60 days or so to do it.
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