The Court has directed that a portion of the settlement class be sent an initial and partial distribution of proceeds from the Co-op’s dissolution. Almost 1800 settlement class members were issued and mailed a distribution check of up to $5670 each in mid-December 2021. Some of those being sent a distribution owed the Co-op TAGS fees, and those fees were subtracted from the amount sent to each such individual.
If you know your Notice I.D. — it starts with BTC, NEW, REV, or ADD — you can check the list here of those who were issued checks; a (T) by a Notice I.D. means that TAGS fees were subtracted for that individual.
If you have not been issued a check at this time, that does not mean that you have been excluded from the class or that your submission of documents and information has been rejected. A review of the submissions for approximately 1400 other potential class members remains underway to determine who also is to receive an equivalent distribution to the one issued in mid-December. It is anticipated that an initial and partial distribution of proceeds of up to $5670 will be issued to the rest of the eligible settlement class in the first quarter of 2022.
The Co-op’s collection and liquidation of its assets and satisfaction of its obligations and debts continues through the work of a Dissolution Committee authorized by the Court. Only when the dissolution is complete will there be a final distribution to eligible settlement class members.