Received an e-mail today.
June 28, 2006
TO ALL POTENTIAL EMO CORPORATION CLAIMANTS
RE: Request for Submission of Claim Form
Dear Claimant:
As you may be aware, I was appointed Receiver for the assets of EMO
Corporation (.EMO.) by the 201st District Court in the State of Texas in Cause
Number D-1-GV-06-000341, State of Texas, Plaintiff vs. EMO Corporation, Todd
L. Tredeau, Tracey L. Jones, and Nancy Humphries, Defendants and Comerica
Bank, Silicon Valley Bank, Calnet Business Bank, Wells Fargo, N.A., and JP
Morgan Chase Bank, National Association, on March 9, 2006.
The goal of the Receivership is to assist the Court in securing,
managing and preserving the assets of EMO and in distributing these assets to
the account holders and other creditors in a fair and equitable manner, all as
determined by the Court. On June 24, 2006, the Court approved a Claims
Procedure, which among other things, establishes a process for filing creditor
and customer claims in this case.
The EMO corporate records indicate that you may have a claim against
EMO. To verify these records, and to confirm the amount deposited or
otherwise owed, if any, the Court has approved a .Claims Procedure.. It is
very important that you complete this process as funds can only be distributed
to those which have been verified by the Receiver and approved (.Allowed.) by
the Court.
The Receiver has set up the following website for review of your
account information:
http://www.emocorp.com. Please visit the website to ensure
that the records as shown are correct. Access to the website will be
available by using your log-in and password.
The Receiver, after having reviewed the EMO records, has separated the
claims against EMO in the following manner: Category A claims consist of those
claims of $5,000.00 or less. Category B claims consist of claims of more than
$5,000.01, and Category C claims are those claims which arose on or after
March 10, 2006.
If, in accordance with the records reflected by the EMO System, your
claim is $5,000.00 or less, you need not take any further action. The
Receiver will accept your Claim in the claimed amount as .Allowed. for
purposes of distribution in this Receivership. However, you should also be
aware that the Receiver or any other party-in-interest shall have the right to
object to any Claim (including a Claim that is less than $5,000.00), but if an
objection is filed relating to your claim(s), you will be notified in writing
of any such objection and have an opportunity to respond.
If your individual claim is more than $5,000.01, you must take all of
the following actions:
(i) Submit the Claim Form available through the EMO website at
https://www.emocorp.com/resources/claimform.pdf on or before August 18, 2006;
(ii) Attach documentation to your submitted Claim Form proving your
identity and ownership of any EMO account. You may provide, for example,
copies of your passport, government-issued driver.s license or birth
certificate; and
(iii) Along with your Claim Form, you must provide documentation sufficient
to evidence the amount of your Claim.
NOTE: All Claim Forms or other submissions delivered to the Receiver shall be
made under penalty of perjury.
As a Category B claimant, you have the option to have your claim
treated as a Category A claim by marking the appropriate box on the Claim
form. You will not be entitled to the full amount of your claim if you choose
this option. However, should you elect to treat your claim as a Category A
claim, you will also not be required to submit the proof of identity and other
documentation set forth above. The decision is entirely yours to make.
Your filing of a claim in this case does not ensure full restitution
or payment of the claim as filed. The Receiver has sought an order from the
court which will aggregate all of the assets of the EMO Receivership. The
Receiver believes that EMO currently will not be able to reimburse all
creditors and account holders in full. Accordingly, the Receiver believes
that the only fair distribution is to pool all of EMO.s assets in order to
effectuate a pro rata distribution of the assets for Allowed claims which will
ensure that you receive the most value for your claim.
The Receiver believes that claims will be paid a pro rata amount based
on the Final Allowed amount of the claim and the value of the EMO assets as a
whole. Your proportionate interest will be determined based upon the
percentage of your claim in relation to all available EMO assets. The figure
will be calculated by dividing the amount of each individual claim by the
cumulative amount of all of EMO remaining assets.
Your completed Claim Form(s) and supporting documentation should be
mailed to the Receiver.s office on or before August 18, 2006. The entire
package should be forwarded to the Receiver at the following address:
Gary R. Barton, Receiver of EMO Corporation
Post Office Box 53150
Houston , TX 77052-3150
Send your Claims Form(s) and related documents via certified mail.
PLEASE DO NOT SUBMIT YOUR CLAIM DIRECTLY TO THE COURT.IT WILL ONLY SLOW THE
PROCESSING OF YOUR CLAIM. FAILURE TO SUBMIT A CLAIM IN A TIMELY MANNER MAY
RESULT IN THE INABILITY TO VERIFY THE ACCURACY OF YOUR CLAIM(S) AND IN THE
DENIAL OF YOUR CLAIM(S).
Upon receipt of your Claim(s), my office will begin its process of
reviewing each individual claim. This process will be completed as quickly as
possible. If no objection is filed to your claim, your claim will be deemed
allowed. If the Receiver or some other party objects to your claim, you may
receive written or electronic notice (or both) regarding your options and
additional steps to be taken at that point.
It is very important that my office continue to have a way to contact
you throughout this process. If you move, or your contact information changes
for any reason, please send a signed letter, via certified mail, to the
address noted above. For your protection, address changes or other requests
made by electronic mail (e-mail) will not be honored. Please send all
correspondence to the Receiver via certified mail at the address noted above.
If, after reviewing these materials, you have questions concerning
these forms or your Claim, please send your question, in writing, at the
address noted above. Given the large volume of claims, we ask that you submit
your inquiries in writing. Again, due to the large number of potential
claimants, it may take several days to receive a reply. Your patience during
this important phase of the EMO Receivership is appreciated.
Sincerely,
Gary R. Barton,
Receiver
of EMO Corporation