Anwar et al v. Fairfield Greenwich Limited et al

Filing 1352

ENDORSED LETTER addressed to Judge Victor Marrero from Robert C. Finkel dated 2/11/2015 re: In response to the 2/6/2015, letter submitted by Douglas Wolfe, Esq. of ASM Capital III, L.P. ("ASM"), as purported assignee of four litigation claims, seeking to participate in distributions from the settlement fund. ENDORSEMENT: The Clerk of Court is directed to enter into the public record of this action the letter above submitted to the Court by plaintiffs' co-lead counsel. (Signed by Judge Victor Marrero on 2/11/2015) (kko)

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LAW OFFICES WOLF POPPER LLP 845 THIRD A VENUE NEW YORK, N.Y. 10022-6601 LONG ISLAND OFFICE 11 GRACE AVENUE SUITE 400 OFFICE PHONE (2121759-4600 GREAT NECK, N.Y. l 1021 FACSIMILE (212) 486-2093 {516) 726-7723 WWW.WOLFPOPPER.COM DIRECT DIAL: . rr~\ rs :;~; Y:f/ t'-~ I ' r~<,· 1·-----·· --~--::~111 I Ll LJ ~;.,JJ.,,J (212) 451-9620 I l , '1 ·: 1 ' • L. 1 ' ,., -.... '- '... ! .... _, • . L_. February 11, 2015 1 ; ...J " i : ·-' I ... . _____..J ChA!'v1F.kt~S OF JUDGE MARRERO By Hand Delivery Honorable Victor Marrero United States District Court Southern District of New York 500 Pearl Street New York, New York 10007 Re: Anwar, et al. v. Fairfield Greenwich Limited, et al. Master File No. 09-CV-00118 {VM) (FM) Dear Judge Marrero: We write in response to the February 6, 2015, letter submitted by Douglas Wolfe, Esq. of ASM Capital III, L.P. ("ASM"), as purported assignee of four litigation claims, seeking to participate in distributions from the $50.25 million Fairfield Greenwich ("FG") settlement fund. 1 As plaintiffs' co-lead counsel, we were required, with the assistance of the Claims Administrator, Rust Consulting, Inc., to "implement the Plan of Allocation in accordance with the terms of the Stipulation," including reviewing claim forms and recommending to the Court whether the claims should be rejected or accepted. See Final Judgment and Order of Dismissal with Prejudice, entered March 23, 2013 (Dkt. No. 1097). In this instance, ASM's four claims conflicted with the claims filed by four investors in the Fairfield Greenwich funds. As we stated in our letter to ASM dated August 5, 2013 (attached hereto as Exhibit A), ASM's purported assignment, on its face, related only to bankruptcy claims, and not litigation claims filed in federal district court. The assignors have taken the same position and, therefore, the assignors have filed claims to receive distributions from the FG Settlement Fund, which have been approved, and dispute ASM's right to participate in the FG 1 lDJ FAX: (516) 726-7724 The total amount in dispute on the four claims is approximately $20,000. I WOLF POPPER LLP Honorable Victor Marrero February 11, 2015 Page 2 Settlement. Accordingly, for the reasons stated in our August 5, 2013 letter, we proposed in the Distribution Order submitted on December 17, 2014, and in the supporting documents filed therewith (Dkt. Nos. 1343, 1344) that the Court reject ASM's claims. 2 We initially requested permission from the Court to file a motion on notice for entry of the order approving the distribution of the FG Settlement Fund. Dkt. No. 1342. After the Court requested that we simply file a proposed order approving the distribution, we left a voice message on December l 7, 2014 for Mr. Wolfe advising him that we had submitted the proposed order. 3 The Court entered the distribution order on December 19, 2014. (Dkt. No. 1345). In early January and again on January 12, 2015 we communicated with Mr. Wolfe and advised him that we would not distribute the proceeds from the disputed claims so that ASM could petition the Court to reconsider the December 19, 2014 Order. See email dated January 12, 2015 from Robert C. Finkel to Douglas Wolfe (Exhibit B). Although Mr. Wolfe waited beyond the fourteen days allowed by Local Civil Rule 6.3 to petition the Court to reconsider its December 19, 2014 order, we do not object to the matter being decided on the merits. We respectfully request, for the reasons stated in our August 5, 2013 letter, that this Court reaffirm its December 19, 2014 order and the recommendation to reject ASM's claims. Respectfully submitted, ft/!rt ~F;DK~ cc: All Counsel SO ORDERED. / / // - / --~~ ~·~ )--/1-0---DA TE 2 vIC TUk MARRERO. U.S. DJ. See Dkt. No. 1343, ~ 9 ("Plaintiffs' Co-Lead Counsel anticipate that one claimant who sought to participate in the FG Settlement based on investors' assignments of bankruptcy court claims, may contest the rejection of its claims."). 3 Mr. Wolfe states that he did not receive the voice message. Doc.#182979vl

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