(702) 832-2299 -- firstname.lastname@example.org
(702) 832-2299 -- email@example.com
Thank you for registering with the Receivership for J&J Consulting. We recognize for a lot of people, the situation with J&J Consulting is stressful, uncertain, and frustrating. We hope the following FAQ helps answer your questions and is a resource you find helpful. We will be updating this as needed.
What is a receiver? A receiver is a neutral person appointed by a judge whose duties are to secure and take charge of a receivership defendants’ property and business operations and to seek to recover assets for the benefit of creditors. As the receiver, Geoff Winkler reports to Judge Silva, who is the federal district court judge presiding over the SEC's lawsuit. Mr. Winkler, his team, and all professionals that have been hired to work with the receivership have accepted a significantly reduced rate in order to minimize the cost of the receivership. Mr. Winkler will file reports with the Court in public pleadings that keep the Court informed as to his progress. These reports can be reviewed here: https://jjconsulting-receivership.com/court-filings.
What is the current status of J&J Consulting? Geoff Winkler is in the process of reviewing all operations of J&J Consulting and has stopped all investment activity. He is presently endeavoring to recover and, where appropriate and as permitted by the Court, to sell assets to recover funds for the benefit of the receivership estate. He and his staff are reviewing bank documents and other financial statements and requesting what is needed for a forensic accounting. He has set up a website to provide investors with current information and are updating this weekly. The address for the website is: J&J Consulting (jjconsulting-receivership.com)
What happened to the money you invested with J&J Consulting? The Receiver is presently endeavoring to recover all available and appropriate records in order to perform a forensic accounting regarding the business and financial activities of the J&J entities. He will continue to review the records and work to gather any available funds. The Receiver will begin a claims process as soon as practical, but no sooner than the completion of the forensic accounting.
How do I submit a claim? Once the Receiver's accounting has been completed and he has secured Court approval of a proposed claims process, the Receiver will reach out to investors requesting information relating to the money you invested and payouts you received. We suggest investors to start collecting this documentation and set it aside for later transmittal to the Receiver in connection with the anticipated claims process. NO CLAIMS MATERIALS NEED TO BE SENT TO THE RECEIVER AT THIS TIME.
When can you expect a distribution on your claim? At this early stage, we cannot predict when or how much we will be able to return to investors and other creditors. We are making every effort to gather assets so that distributions can be made to investors. As we continue the forensic accounting, we gain further insight into variables that will impact our decision around fair distributions. We will keep you updated as we have more definitive information about the estimated return. Once we have decided what we believe to be an appropriate and equitable distribution method, we will be submitting our suggestions to the Court for review. Thank you for your patience and understanding.
Do you need an attorney? The Receiver cannot advise you on this. there is a dispute about the amount of a specific claim, the Court will resolve that dispute. Investors and creditors must make their own decisions about engaging counsel, including in connection with any claims disputes that may arise.
What do I do with my taxes? The Receiver cannot provide you with tax advice; however, we suggest that you speak with a tax professional as there may be programs to help. We will be deciding whether to send out 1099s once the forensic accounting has commenced.
Can the Receiver please supply an EIN and business address for J&J Consulting for me to submit with my taxes? This is not information the Receiver is able to provide at this time. The tax entity that will be utilized to repay investors has not yet been determined.
Should I submit a claim for the bankruptcy case? If so when should I submit this by? While there is a deadline still in place to submit a claim, the bankruptcy has been dismissed and thus there is no need to file a claim in the bankruptcy case.
If we set up an LLC to transact business with J&J, do we need to keep these LLC's active and renewed with the Secretary of State until this issue is resolved or can we shut down the LLC? How will that affect our ability to recoup any of our losses? If an LLC was used to invest funds, the Receiver will not require that LLC to be active with the SOS when checks are issued for approved claims. However, the Receiver is not in a position to opine regarding any legal implications or tax consequences that may be associated with the same.
Do you have information about potential assets? We will be posting information about assets currently for sale on our website: https://jjconsulting-receivership.com/asset-sales. We also suggest you review the quarterly reports which list out collected and liquidated assets from each quarter. You can find these reports in the court filings on our website: https://jjconsulting-receivership.com/court-filings. If you have information about any potential assets of J&J Consulting, please share the information with us.
How do we keep your information private? We take all necessary steps to protect the identity and personally identifiable information of all investors. This includes working with the Court to allow us to use truncated identifiers in place of full names, carefully review all billing and reports to ensure they don't contain specific investor information and complying with all state and federal laws relating to the protection of investor information.
How often should you expect to receive email update from us? We will be sending updates monthly. If you have any further questions please feel free to reach out at (702) 832-2299 or email us at firstname.lastname@example.org. We appreciate your understanding that our goal is to communicate as efficiently as possible in order to reduce cost.
What can you do to help? We are actively updating our website weekly so highly suggest that investors review the website for the most current information. Please reach out with any information that you believe would be important to the receivership. We appreciate you passing along our information to other investors that you may know. Ultimately, your patience is also very helpful as we promise to do our utmost to get your money back to you and other investors in a fair and effective manner.
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