UPDATE - REQUEST FOR PROPOSAL TO PURCHASE
On March 27, 2008, the Deputy Receiver of AIDT, in his capacity as Ancillary
Receiver, submitted a Request for Proposal ("RFP"). [Click
here to view a copy of the Request for Proposals to Purchase.] If you have
an interest in conducting due diligence and submitting an RFP, you must complete
and sign a Confidentiality Agreement. [Click here to view
the Confidentiality Agreement.] The preliminary deadlines established by the
RFP are as follows:
● April 15, 2008 - Deadline for interested persons to submit
Confidentiality Agreement and non-refundable application fee of $5,000 made
payable to "AIDT Receiver;"
● May 9, 2008 - Deadline for interested persons to complete due diligence
from the Deputy Receiver; and
● June 1, 2008 - Deadline for interested persons to submit proposal to
purchase AIDT.
UPDATE – CLAIMS PROCESS HAS BEEN APPROVED – JANUARY 12, 2008:
On February 12, 2008, the District Court for the City and County of Denver, State of Colorado issued an Order Establishing Claims Process and Claims Bar Deadline in this matter. [Click here to view a copy of the Notice.] The Order established the following claims process and deadlines:
February 29, 2008: On or before February 29, 2008, the Liquidator will commence publication of a notice of AIDT's liquidation and the Claims Bar Deadline. [Click here to view a copy of the Notice.] The publication will occur once per week for three successive weeks.
March 14, 2008: On or before March 14, 2008, the Liquidator will send to each known creditor of AIDT at the last known address of such creditor as reflected in the books and records of AIDT the following documents: (1) a notice of AIDT's liquidation and the Claims Bar Deadline, (2) a statement of the amount of the claim for the creditor as shown on the books of AIDT ("Statement of Claim"), and (3) a Proof of Claim form. [Click here for a Proof of Claim form.]
May 14, 2008: THE CLAIMS BAR DEADLINE: ALL CLAIMS IN THIS MATTER MUST BE FILED BY 5:00 P.M. ON MAY 14, 2008.
On or before May 14, 2008 at 5:00 p.m. (the Claims Bar Deadline), any creditor that objects to the Liquidator's claim amount determination must file an objection with the Liquidator in accordance with the procedure set forth in the Statement of Claim. To the extent any creditor has an additional claim not previously identified by the Liquidator, that claim must be filed with the Liquidator on or before May 14, 2008 on a Proof of Claim form. [Click here for a Proof of Claim form.] Any claims filed after the Claims Bar Deadline may be forever barred and precluded from sharing in the distribution of the assets of AIDT.
June 13, 2008: On or before June 13, 2008, the Liquidator shall file a report with the Court regarding the status of the preparation of the Schedule of Claim Determinations, the objections of creditors, and the anticipated date for the notice and filing of the Schedule of Claim Determinations as contemplated in C.R.S. §§ 11-103-804(7) and (8).
THE INVOLUNTARY LIQUIDATION AND WHO TO CONTACT:
On November 19, 2007, the Colorado Banking Board met in emergency session, pursuant to C.R.S. § 11-103-802(3)(b), and issued its Order for Involuntary Liquidation against American Intercapital Holding, LLC d/b/a American Intercapital Depository & Trust ("AIDT"). The Board determined that AIDT had failed or refused to return deposits to its depositor(s), that AIDT was unable to pay depositors on demand, and that as of October 31, 2007, AIDT had a liquidity deficiency of $6.9 million. [Click here to view a copy of the Order for Involuntary Liquidation.]
Pursuant to the terms of the Order for Involuntary Liquidation, the Colorado Banking Commissioner, as Liquidator, has taken possession and control of AIDT's remaining assets, and is in the process of liquidating AIDT in accordance with the Liquidation, Dissolution and Reorganization Act, C.R.S. § 11-103-802(3)(b), et seq.
On November 20, 2007, the Colorado Banking Commissioner appointed Philip Feigin to serve as Deputy Receiver and Deputy Liquidator of AIDT. [Click here to view a copy of the Order.]
On December 20, 2007, the District Court for the City and County of Denver, State of Colorado ("Liquidation Court") issued its Order Enjoining, Restraining and Prohibiting Actions Impending the Orderly Liquidation of American Intercapital Holding, LLC d/b/a American Intercapital Depository & Trust. [Click here to view a copy of the Order.] Pursuant to the terms of the Order, all third parties are enjoined and restrained from interfering with the orderly liquidation of AIDT, and are further prohibited from commencing or further prosecuting any actions or claims against AIDT, except in the Liquidation Court.
For further information concerning the status of the liquidation of AIDT, please contact Philip Feigin at Rothgerber Johnson & Lyons LLP, 1200 Seventeenth Street, Suite 3000, Denver, Colorado 80202; (303) 623-9000.
What Is American Intercapital Depository & Trust?
- The first Old-World International Private Bank in the United States
- Legally mandated financial anonymity and asset protection equaling or exceeding the benefits of traditional offshore banking jurisdictions
- Client confidentiality, asset protection, tax mitigation, trust services and family office services, all in the most politically and economically secure country in the world
- A judicious blend of financial privacy, asset protection, and profitability to successful families and businesses, offering unique opportunities to build and preserve their wealth in accordance with the establishment of the Colorado Foreign Capital Depository Act
- American Intercapital Depository & Trust is a banking institution, chartered and regulated under the Colorado Foreign Capital Depository Act and the Colorado Banking Board.
