Due to several outstanding issues, the Zeek Rewards Receivership has been extended through to 2021.

The
last roadmap
placed the winding down of the Zeek Receivership on or around January 2020.

Ongoing issues will blow that soft deadline out by more than a year, as revealed in an August 4th filing.

In a motion for an extension of time to file a Final Liquidation and Dissolution Plan, the Zeek Receiver cites two ongoing issues:

remaining litigation against Victoriabank
; and

unclaimed property collection work.

Until this work is resolved, a final distribution to injured investors cannot be calculated or made.

The Receiver’s motion requests a 180 day extension, which was granted on August 6th.

Pending any further extensions, the Receiver’s Final Liquidation and Dissolution Plan is now due by January 20th, 2021.

Update 17th May 2021 – 
Status update as per Receiver’s Q1 2021 Status Report;

There are limited substantial tasks of the Receivership that remain. These include

(1) completing the receipt and processing of payment from Net Winner settlements;

(2) completing the sale or collection of unsettled judgments against Net Winners; and

(3) making a final distribution to claimants with recognized claims.

No dates yet.

🤖 Quick Answer

What is the status of the Zeek Rewards Receivership timeline?
The Zeek Rewards Receivership has been extended through 2021 due to outstanding issues. Originally scheduled for closure around January 2020, ongoing litigation against Victoriabank and unclaimed property collection work have delayed the final liquidation plan by more than one year.

Why has the Zeek Receivership extension become necessary?
Two primary factors necessitated the extension: unresolved litigation proceedings against Victoriabank and ongoing unclaimed property collection efforts. These issues must be resolved before the Receiver can calculate and distribute final compensation to injured investors.

What actions did the Zeek Receiver take to address delays?
The Receiver filed a motion requesting a 180-day extension to complete the Final Liquidation and Dissolution Plan. This motion was approved on August 6th, establishing new timelines for resolving outstanding

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