WASHINGTON, Jan. 11, 2021
WASHINGTON, Jan. 11, 2021 /PRNewswire/ -- RCB Fund Services LLC, the Distribution Agent for the ICP Asset Management Inc. Fair Fund (the "ICP Fair Fund"), announces the opening of the claims process for the ICP Fair Fund. The ICP Fair Fund was established by the United States Securities and Exchange Commission ("SEC") to distribute more than $22 million in disgorgement, prejudgment interest, and civil penalties collected in SEC v. ICP Asset Management, LLC, et al., 10-cv-4791-LAK-JCF (S.D.N.Y.) (the "Civil Action"). The ICP Fair Fund will be distributed to investors harmed by fraudulent practices and misrepresentations made in connection with the collateralized debt obligations ("CDO") known as the Triaxx CDOs. You can find more information regarding the ICP Fair Fund at: www.icpfairfund.com or www.sec.gov/divisions/enforce/claims/icp-asset.htm.
Who is Eligible to Participate in the ICP Fair Fund?
Any person or entity that purchased an interest in the Triaxx CDOs and believes they have suffered an economic loss as a result of that investment should submit a claim form. Submissions will be considered by the Distribution Agent, the SEC staff, and the economic expert retained by the SEC, and used to propose to the Court a plan of distribution to compensate investors for harm suffered as a result of the conduct underlying the Civil Action.
The Triaxx CDO Investments
The Triaxx CDO Investments include:
Triaxx Prime CDO 2006-1
Class A-1, A-2, B, X and C Notes
Triaxx Prime CDO 2006-2
Class A-1A, A-1B1, A-1B2, A-1BV, A-2, X and C Notes
Triaxx Prime CDO 2007-1
Class A-1T, A-1D, A-2, B, X and C Notes
Triaxx Funding High Grade I, Ltd. CDO
Distribution of the ICP Fair Fund
The Distribution Agent, in consultation with the SEC and the economic expert, will develop a plan of distribution for the ICP Fair Fund to propose to the Court with the goal of providing a fair and reasonable distribution of the ICP Fair Fund assets to those investors that suffered economic losses as a result of the conduct underlying the Civil Action.
How to Apply?
In order to be considered for a recovery, please submit a claim form and any other required information regarding your investment(s) in the Triaxx CDOs to the ICP Fair Fund via email at: email@example.com. Claim forms are available at www.icpfairfund.com, as well as further directions on the requirements for your submission. If you wish to mail your submission, please direct the submission to the ICP Fair Fund, 17 Technology Place, Suite 1, Syracuse, NY 13057. For more information, please visit www.icpfairfund.com or contact the Distribution Agent at firstname.lastname@example.org.
Claim Filing Deadline
Submissions must be made no later than midnight on March 12, 2021.
ICP Fair Fund, 17 Technology Place, Suite 1, Syracuse, NY 13057