Interesting Facts:
Thief who steals thief has one hundred years of pardon.
Lying and stealing are next door neighbors.

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Wednesday, October 2, 2013

This just in from Baker Botts, hope it helps

The answer to your question concerning payments to trust beneficiaries is addressed on the Frequently Asked Questions page of the Stanford Financial Receivership Claims Website -- under FAQs relating to Trusts, Deceased Accountholders, and Related Beneficiaries -- which states specifically:

 1. How will the Receiver handle payments to beneficiaries of trusts, including trusts formerly administered by Stanford Trust Company, Ltd. in Antigua? Pursuant to the Notices of Determination issued by the Receiver, any payments regarding trusts' accounts will be made to the trusts themselves as payees. However, should the Receiver receive a request to change the payee from a trust to the trust beneficiaries, the Receiver will first need to verify the identities and ownership capacities of all beneficiaries of the trust, which may involve requests for additional information from those individuals, before making the requested change. Please note that any request to change the payee from a trust to its beneficiaries must include the express approval of all such beneficiaries.

The link to the FAQ section of the website is as follows:

Requests to have checks reissued, along with supporting documentation, can be submitted to the Receivership within 180 days of the date the check was issued in writing by email at and by mail at Stanford Financial Claims, c/o Gilardi & Co., LLC, P.O. Box 990, Corte Madera, CA 94976-0990.

 As we also state in the FAQs, people should not include requests for changes to payee names on the certification forms they return, and such requests will not be honored. Most claimants who had similar issues properly raised them as part of the notice of determination objection process, as the payee names are stated in the notices of determination. The only other way to make such a request after the check has issued is in writing per the instructions above. Claimants certainly can contact Gilardi by phone but the actual request for the payee name change and check reissuance must be in writing and signed by all beneficiaries of the trust.

 I have inquired with Gilardi regarding the answering of phone calls, and they have indicated they are continuing to receive and handle phone calls on a regular basis.

 As to claims that were listed for payment on the second distribution schedule, the checks were actually mailed on September 26, 2013. Thus, it is likely that many, have not yet arrived at their destinations. Regards,

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum

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