November 14th, 2013

On November 14, 2013, in Allegro Law LLC.,

On November 6, 2013, the Trustee completed reviewing individual claims and filed the final Motion to Strike or Reclassify claims for individual claimants (we are still awaiting Orders on some of the last filed Motions to Strike or Reclassify). There remaining six corporate claimants that have filed Proof of Claims are still pending litigation to determine their validity.

On November 4, 2013, the associated litigation in the Hamm v. Americorp, et al. case proceeded to trial. As you may be aware, Americorp was the processing agent for Allegro Law, LLC. Despite rigorously defending the case during the discovery phase, at the point of being held in contempt and attempting to stall the case at every point, the Defendants and their attorneys failed to attend the trial and did not put on a defense to the Plaintiff’s case. At this time we are awaiting the Court’s anticipated entry of Judgment against the Defendants. After the judgment is entered, we will begin the likely long process of attempting to collect the judgment.

Although we have finalized the Motion to Strike or Reclassify individual claims phase of this case, we will be unable to make a distribution to creditors until the remaining six corporate claims have been litigated. We anticipate (but do not guarantee) the final corporate claims to be heard by the Court in early 2014.

The final major hurtle that will have to be completed before distributions to creditors is made is a “Prompt Determination” from the Internal Revenue Service. This is a legal process where the bankruptcy estate requests the IRS verify the estate has no liability with the service. This process takes a minimum of six months and was begun in October, 2013.

As a reminder, the Trustee’s office is unable to provide legal advice to creditors. If you are in need of advice, or further explanation of the above stated processes, please contact an attorney.

Finally, our office is unable to entertain change of address requests. All change of address requests need to be made to: United States Bankruptcy Court, Clerk of the Court, One Church Street, Montgomery, Alabama 36104.