Beware of Traffic Monsoon – Review

Work on a “plan of distribution” has begun, according to the Traffic Monsoon Receivership.

The news comes after a large number of investor disputes have been resolved.

According to the Receiver’s April 15th Third Status Report on the claims process, a total of $55,132,872 in Proofs of Claim has been permitted or is expected to be approved, with just 511 Proofs of Claim claiming claims totaling about $12,923,100 still unresolved.

This is an increase from the $36.3 million in claims permitted a little over a year earlier.

The Receiver hopes to reduce the $12.9 million in contested claims to $549,472 pending court approval.

PayPal has a $3.1 million allegation that is being investigated.

The Receiver writes: Now that Disputed Investor Claims have been greatly reduced, the Receiver also wants to embark on a plan of distribution, pending clearance by the court to continue forward with settling disputed claims.

The court’s permission and the distribution procedure have no set dates.

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