Frequently Asked Questions
Q. What is a Receiver?
A. The Receiver is the individual who assumes responsibility for all assets of the entities in receivership in the civil enforcement action brought by the SEC. He is responsible for determining how the business was operated and where all of the assets are located. He also is charged with operating the business and reporting to investors and other interested parties. Ultimately, the Receiver will determine the amounts owed to individual creditors and investors and will distribute available assets in accordance with a plan approved by the Court.
Q. If I had a booking at the Jay Peak resort, will it still be honored?
A. Absolutely. The Receiver intends to keep Jay Peak open without any interruption in operations. All bookings will be honored.
Q. If I am employed at the Jay Peak resort, will I keep my job?
A. The Receiver is committed to helping employees and others impacted by this situation. As stated above, the Receiver intends to keep Jay Peak open without any interruption in operations and without any significant job losses. However, you should contact an appropriate supervisor to know if you should report to work.
Q. Can I get my money back now?
A. All funds must remain frozen until the Court authorizes otherwise.
Q. Will I get all of my money back?
A. It is too soon to determine how much investors will receive or when. The Receiver is working to protect the assets of the entities in receivership, but there is no way to predict at this early date how much will be returned or when that will happen.
Q. How can I stay informed of progress in this case?
A. The Receiver has established this website that will be updated on a regular basis.
Q. If I have other questions, how can I get them answered?
A. You can contact the Receiver’s counsel at (800) 223-2234 or jaypeak@akerman.com
Q. Should I hire a lawyer?
A. You certainly have the right to hire or consult with your own lawyer. As authorized by the Court, however, the Receiver will be investigating all potential claims or methods of recovery that he can bring for the benefit of investors.
Q. Should I send copies of my papers proving that I am an investor to the Receiver?
A. Not at this time.
Q. Is the Receiver my lawyer?
A. The Receiver is not your lawyer, and he cannot provide you with legal advice. He is the Court’s agent, and he is effectuating the provisions of the Court’s orders. The Receiver will, however, be investigating potential claims or methods of recovery that he can bring for the benefit of investors.