Davis v. Lifetime Capital Inc

Filing 1463

ORDER - The 1386 Receiver's Combined Motion to Allow and Disallow Certain Claims and/or to Release Escrowed Funds is GRANTED in part and DENIED in part as set forth in this Order. Signed by Chief Magistrate Judge Sharon L Ovington on 3/31/2015. (rms)

IN THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF OHIO
WESTERN DIVISION AT DAYTON
H. THAYNE DAVIS,

:

Plaintiff,

:

Case No. 3:04cv00059

:

Chief Magistrate Judge Sharon L. Ovington

vs.
LIFETIME CAPITAL, INC.,
Defendant.

:
:

ORDER

This case is presently before the Court upon the Receiver’s Combined Motion to
Allow and Disallow Certain Claims and/or to Release Escrowed Funds (Doc. #1386), and
the record as a whole.
On March 30, 2010, the Receiver filed a motion requesting the Court disallow the
claims of LifeTime Investors who failed or otherwise refused to comply with the
established claims process. (Doc. #1111, PageID# 12208-12228). In his motion, the
Receiver indicated that as of late 2008 there were approximately 450 LifeTime Investors’
claims that were not yet resolved. (Doc. #1111, PageID# 12212). After the Receiver
prepared and issued final written notices to the Investors or next-of-kin for whom no
claim had been submitted or with respect to which claim forms remained deficient, the
Receiver represented to the Court that the “the amount of the remaining unresolved
claims has been further reduced and now stands at 60.” (Id., PageID# 12214). The

Receiver filed, under seal, a list of the remaining LifeTime Investors with outstanding
and/or unresolved claims. (Doc. #1111-3).
On November 10, 2011, the Court issued an Order granting the Receiver’s motion
and disallowed the claims of any LifeTime Investor who had not yet filed or properly
completed a claim. (Doc. #1207, PageID# 12956-58). Prior to granting the Receiver’s
motion and disallowing these claims, the Court noted that final notices were sent to
LifeTime Investors, a fairness hearing was held on August 29, 2010 regarding the matter,
and information was also posted on the Receiver’s website at www.lifetimereceiver.com.
(Id.).
In his present motion, the Receiver indicates that since the November 10, 2011
Order, he “has identified several remaining LifeTime Investors’ potential claims . . . .”
(Doc. #1386, PageID# 14646). The Receiver filed, under seal, a list of such claims and
the identification of such investors. (Doc. #1399-1). Although the Receiver requests an
Order allowing or disallowing these LifeTime Investors’ claims or potential claims, the
Court finds that its previous Order from November 10, 2011 has already addressed this
issue. The Court declines to otherwise revisit the matter it decided nearly three years
earlier. Accordingly, as previously Ordered, the claim of any LifeTime Investor is
disallowed if it was not filed by November 10, 2011, or otherwise remained deficient as
of that date. (Doc. #1207).
The Receiver shall deem a claim to have been properly completed only if all
documentation necessary to substantiate and pay the claim was received by the
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Receivership on or before November 10, 2011. A review of the account notes submitted
by the Receiver appears to indicate that the referenced accounts remained deficient in at
least one way after November 10, 2011, and therefore have already been disallowed
pursuant to the Court’s previous Order. See Doc. #1207. Escrowed funds from such
accounts should therefore be released and deposited into the general Receivership fund,
awaiting further direction from the Court. Investors who may contact the Receiver
regarding claims they contend were not deficient as of November 10, 2011 – but for
which they believe remain unpaid – should be directed by the Receiver to file a motion
and all supporting documentation directly with the Court for its consideration.
IT IS THEREFORE ORDERED THAT:
The Receiver’s Combined Motion to Allow and Disallow Certain Claims and/or to
Release Escrowed Funds (Doc. #1386) is GRANTED in part and DENIED in part as set
forth in this Order.

March 31, 2015
s/Sharon L. Ovington
Sharon L. Ovington
Chief United States Magistrate Judge

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