Following “lengthy negotiations” between Matt Lloyd McPhee and the MOBE Receiver, a settlement was reached a few months back.

In a September 6th court filing, the Receiver has now revealed details of the proposed settlement.

As per the settlement, Lloyd (right) will surrender a number of offshore assets tied to MOBE to the Receiver.

First Apartment in Kuala Lumpur, Malaysia

Matt Lloyd owns a number of apartments in Malaysia through his company CAIF Hong Kong.

Lloyd is currently under contract to sell the first apartment to a third party.

Under the terms of the settlement, ownership of the first apartment will be transferred to the Receiver.

The sale will go ahead for no less than 620,550 MYR (~$148,000 USD). All expenses in relation to the sale are to be covered by McPhee or the buyer.

If the apartment sells for more than the amount above, 40% of the additional amount will be kept by the Receiver.

The rest will go towards MOBE’s Malaysian tax liabilities and/or its accountants.

Of the amount ultimately paid to the Receiver as a result of the sale, $35,000 will be paid to Lloyd’s US attorney.

Lloyd will have 45 days upon order of his settlement to complete the sale. This period can be extended by the Receiver at his discretion.

If the sale falls through and no extension is sought, the Receiver is free to sell the first apartment and retail the full sale amount.

Second Apartment in Malaysia

Matt Lloyd’s second apartment in Malaysia is also owned through CAIF Hong Kong.

The settlement identifies the apartment as Lloyd’s primary residence.

Under the terms of the settlement, the second Kuala Lumpur apartment will be turned over to the Receiver.

Lloyd retains exclusive rights to purchase back the apartment for 70% of the amount he originally paid for it ($136,930.50).

This amount is locked in for 120 days from the date settlement is approved.

After which, the buyback price of the apartment increases as follows:

$146,711.25 if bought back between 121 to 165 days;

$156,492 if bought back between 166 to 210 days;

$166,272.75 if bought back between 211 to 255 days;

$176,053.50 if bought back between 256 to 270 days.

If McPhee fails to buy back the apartment within 270 days and no extension is sought, the Receiver is free to put the apartment up for sale.

The Fiji Resort

Matt Lloyd has a partial ownership interest in the Serenity Island Resort Hotel.

The hotel is located on Serenity Island, Fiji.

The hotel is on leased land owned by another company. The lease has been mortgaged to secure a loan.

The loan amount is currently $6.6 million FJD (~$3 million USD).

Through a series of shell companies, the lease is ultimately held by a company owned by Lloyd and former MOBE employee Athat Rashan.

Serenity Island Resort Hotel was purchased to hold MOBE events at.

After the
FTC shut MOBE down
,

the business model for the Fiji resort hotel was not viable because the resort was no longer used to host MOBE live events.

Instead, (the r

🤖 Quick Answer

What settlement was reached between Matt Lloyd and the MOBE Receiver?
Following lengthy negotiations, Matt Lloyd McPhee agreed to surrender offshore assets tied to MOBE to the court-appointed Receiver. Details emerged in a September 6th court filing, including the transfer of Malaysian real estate properties owned through his company CAIF Hong Kong to satisfy settlement obligations.

What Malaysian property must Matt Lloyd transfer under the settlement?
Lloyd must transfer ownership of an apartment in Kuala Lumpur, Malaysia to the Receiver. The property, currently under contract for sale, will be transferred for no less than 620,550 Malaysian Ringgit, approximately $148,000 USD, with all sale-related expenses covered by McPhee.

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