MOBE Receiver and Matt Lloyd Close In on Settlement Deal
Matt Lloyd McPhee is about to hand over millions in assets—or pay their value—to settle the massive fraud case that has consumed his offshore empire for months.
A July 29th joint filing shows McPhee and the MOBE Receiver have hammered out a settlement in principle. The deal requires McPhee to either sell his property holdings or secure financing to pay the receivership estate what his interests in those properties are worth. Both sides are now drafting the binding agreement, a process that could stretch several weeks because it requires real estate attorneys in Fiji and Costa Rica to coordinate across time zones and jurisdictions.
This marks a dramatic reversal from February, when McPhee refused to surrender his offshore luxury condos, private island, and resort to the Receiver. That defiance triggered the current legal standoff.
Parallel to settling with the Receiver, McPhee has also jumped back into negotiations with the FTC. The agency's staff and McPhee have reached a settlement in principle on a permanent injunction and monetary relief order. McPhee has already signed off on the FTC staff's proposed order, though the agency has kept the settlement details under wraps for now.
The FTC's deal with Lloyd depends entirely on the Receivership settlement getting approved first. There's a cascade effect: the Receiver must sign off before the FTC can move forward, and the FTC settlement must hold before the agency can file its own motion for default judgment against the MOBE corporate entities.
To buy time while these pieces fall into place, the FTC requested a stay on all MOBE proceedings. The agency played it smart, refusing to leave the stay open-ended. Instead, it gave the Receiver and Lloyd a hard deadline: within twenty-one days of the stay's approval, they must either file a motion seeking settlement approval or explain why they haven't reached a deal. The FTC's July 26th stay motion was still pending decision at publication.
By February 8th, 2020, the FTC had secured the stay it wanted. But the agency's own Commissioners stalled. Months passed without a vote on McPhee's proposed settlement. On January 23rd, the FTC asked for another forty-five day extension, with staff telling the Commission they needed extra time to review and vote on the order.
The delays have left everyone in limbo—McPhee waiting for the FTC to act, creditors waiting for asset recovery, and the Receiver waiting for Commissioners to make a move. Until the FTC votes, nothing closes.
🤖 Quick Answer
What settlement has Matt Lloyd agreed to with the MOBE Receiver?Matt Lloyd McPhee has reached a settlement in principle requiring him to either sell his property holdings or secure financing to pay the receivership estate the value of his interests in those properties. The binding agreement is under drafting by real estate attorneys coordinating across Fiji and Costa Rica jurisdictions, with completion expected within several weeks.
Why does the settlement process require international legal coordination?
The settlement involves property holdings located in multiple jurisdictions, specifically Fiji and Costa Rica. Real estate attorneys from both countries must coordinate across different time zones and legal systems to draft the binding agreement, significantly extending the process duration.
How does this settlement represent a change in Matt Lloyd's previous position?
In February, McPhee refused to surrender his offshore luxury assets. The July settlement agreement marks a dramatic reversal, as he now agrees to liquidate or refinance his property holdings to satisfy
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