Securities. Exchange Commission v. Titanium Blockchain Infrastructure Services, Inc.; EHI Internetwork and Systems Management, Inc. aka EHI-INSM, Inc.; and Michael Alan Stollery aka Michael Stollaire, Civil Action No. 18-cv-4315 DSF (JPRx)
Notice OF CLAIMS Process AND CLAIMS BAR DATE
This discover might affect your authorized rights. Please learn it carefully. Among other issues, failure to well timed submit a claim pursuant to the Directions below could lead to your declare being barred from a distribution
Status Update 4/5/22: The Receiver has filed a Motion for Approval of Receiver’s Distribution Plan. Click right here to view the proposed plan submitted for the Court’s approval.
To Potential Claimant:
On May 30, 2018, the above-captioned Court entered an Order appointing Josias Dewey as Receiver for the property of Titanium Blockchain Infrastructure Services («TBIS Estate»). On August 21, 2020, the Court entered an Order authorizing the Claims Process and titanium alloy Bar Date, as modified December 15, 2020. Copies of these orders and other data relating to this case are available on the TBIS Receivership website at https://tbis.io/.
You’re receiving this Notice because our information point out chances are you’ll hold a declare in opposition to the TBIS Estate. Receiving this Notice does not imply that you hold a claim or that your claim might be eligible for a distribution from the TBIS Estate.
The TBIS Fraud
As alleged by the United States Securities and Exchange Commission, Titanium President Michael Alan Stollery, a/ok/a Michael Stollaire, lied about business relationships with the Federal Reserve and dozens of well-known companies for purposes of promoting an Initial Coin Offering («ICO»). Titanium’s web site contained fabricated testimonials from these supposed corporate customers. These fraudulent statements had been used to advertise the ICO, which Stollaire advertised by movies and social media. The SEC’s complaint charged Stollaire and Titanium with violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and 10b-5(c) thereunder. The complaint charged one other Stollaire firm, EHI Internetwork and Systems Management Inc., with violating Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and 10b-5(c) thereunder.
Eligible Claimants and Claims Process
You could also be eligible to submit a claim should you:
(i) are a creditor of titanium sheet;
(ii) directly purchased Titanium Bar («BAR») or TBAR from Titanium;
(iii) purchased BAR from a third celebration (other than Titanium) previous to February 22, 2018, held such BAR via February 22, 2018, received TBAR from Titanium by advantage of your BAR holdings, and held such TBAR by May 29, 2018; or
(iv) bought TBAR from a third social gathering (other than Titanium) prior to May 29, 2018 and held such TBAR by way of May 29, 2018.
How Do I Submit a Claim?
The deadline for submitting a declare to the TBIS Estate was 11:59 p.m. (Pacific Time) on August 11, 2021. The web claim filing system is now closed. Individuals or entities with additional questions ought to direct their correspondence to the Receiver at tbis@hklaw.com.
Deadline for Submitting Claims
Notice is hereby given that every one people with potential claims for recovery from the TBIS Estate ought to file their declare with the Receiver so that it is definitely submitted on the Receiver’s online claim system, by 11:59 p.m. (Pacific Time) on August 11, 2021 (the «Bar Date»). Claims ought to be filed electronically by this on-line claim system.
Individuals or entities that imagine they have good cause to both extend the Bar Date or to submit their declare by different means should request this from the Receiver at tbis@hklaw.com no later than the Bar Date. Unless a declare is topic to a Receiver-granted exception, all claims against TBIS Estate assets that aren’t acquired by the Bar Date are barred.
Frequently Asked Questions
A link to FAQ’s with respect to the Claim Process will be found here. A hyperlink to step-by-step instructions for establishing MetaMask for the token validation course of can be discovered right here. TBIS Receivership Update – January 17, 2022
Notices of Determination
Aside from a small number of claims, all validated claimants should have acquired a discover of determination. If you haven’t received a discover, we will be contacting you immediately by email to acquire additional details about one or more transactions that have an effect on the calculation of your claim. If you have not received a discover of willpower and we do not contact you for extra data before the shut of enterprise on Friday, January 21, 2022, then please electronic mail tbis@hklaw.com. Please be certain that to include «Notice of Determination Pending». You claim quantity in the topic line of the e-mail. Objections to Initial Determinations
In the event you already filed an objection to your initial discover of willpower, we count on to offer an initial response to your objection on or before January 28, 2022. Please disregard the 60-day requirement to file an objection with the court set out in your notice of willpower. We are extending that deadline to the date that’s thirty (30) days after the date we notify you of our determination to just accept or deny (in whole or in part) your objection. Payment of Claims in ETH
Plenty of claimants have communicated to us a need to obtain their awards in the type of ETH, and as a result, we’ve got included a mechanism in our proposed plan of distribution to permit payment of claim awards to token purchasers in ETH. Please notice that the plan of distribution must nonetheless be accredited by the courtroom (see below on standing). If you have any inquiries pertaining to where and how to make use of titanium rod (https://writeablog.net/birchswan8/benefits-and-also-drawbacks-of-titanium-tubes), you could call us at our web page. Plan of Distribution
We’ve got completed a draft plan of distribution, which we will be transmitting to the SEC on Tuesday (as at this time is a U.S. holiday) for overview and comment. Our aim is to include any suggestions from the SEC by the top of subsequent week. File the plan with the court instantly thereafter. Once filed, we’ll upload a replica of the submitted plan of distribution to the tbis.io web site. We anticipate that it will take the court docket at least just a few weeks to consider. Rule on the proposed plan of distribution. During this period of time, we anticipate to complete resolving any excellent claims. For individuals who wish to obtain their award in ETH, you do not need to do anything at this time. Previous to any distributions, we’ll arrange a process for individual claimants to choose how they wish to receive their award; and for many who elect to obtain ETH (once more, assuming our plan of distribution is approved by the court docket), a secure means for those claimants to speak a wallet handle to receive their award.
Receiver Contact Information:
Josias «Joe» Dewey
E-mail: tbis@hklaw.com
Direct: (305) 789-7746
Court Documents:
You may entry right here a copy of the Order Appointing Receiver that was entered on May 30, 2018 by the United States District Court for the Central District of California.
A hyperlink to the SEC’s newest press launch regarding Titanium Blockchain Infrastructure Services, Inc. can be discovered here.
An update might be discovered in the Receiver’s Initial Status Report, here.
Lastly, hyperlinks to the Receivership Court Filings can be discovered, here.
PLEASE Note, NEITHER THE RECEIVER, NOR ANY AFFILIATE OF THE RECEIVER, WILL EVER ASK YOU TO Transfer POSSESSION OF ANY CRYPTOCURRENCY (WITH THE EXCEPTION OF THE «CONTROL TOKEN» REFERENCED IN The web CLAIMS SYSTEM) OR DISCLOSE ANY PASSWORD(S) OR Private KEY(S) FOR ANY Reason Whatsoever. PLEASE CONTACT THE RECEIVER Immediately If you’re PROMPTED FOR SUCH Information IN CONNECTION Along with your POTENTIAL Claim.
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