WCM777 Receiver files eleventh Interim Report

On November 11th the WCM777 Receiver filed her eleventh Interim Report.

Topics covered in the report include:

funds recovered

the sale of a California property and

the Diamex Diamonds (PMX Jewels)

I’ve separated the various topics covered into appropriate subheadings below.

Funds Recovered

During the third quarter of 2016 the Receiver recovered $1.08 million dollars.

$1,075,000 was recovered from the
Sue Wang settlement
and $5000 from the
Zayda Aberin settlement
.

Property Sale

The vacant land plot in Santa Barbara County, California was sold for $530,000 in october 2016 ($493,205 minus broker commission and other costs).

PMX Jewels

After it was deemed the flawed Diamex Diamonds weren’t worth polishing and cutting, the Receiver accepted a reduced offer of $2000 from a third-party buyer.

Current Balance

As it stands the WCM777 Receivership holds $27 million dollars in recovered funds.

Pending a November 28th hearing on a motion
seeking approval to allow and disallow victim claims
, these funds will be distributed to WCM777 victims.

🤖 Quick Answer

When did the WCM777 Receiver file the eleventh Interim Report?

How much money was recovered during the third quarter of 2016?
During the third quarter of 2016, the Receiver recovered a total of $1.08 million dollars. This amount comprised $1,075,000 from the Sue Wang settlement and $5,000 from the Zayda Aberin settlement, representing funds returned to the receivership estate.

What was the outcome of the Santa Barbara County property sale?
The vacant land plot in Santa Barbara County, California was sold in October 2016

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