You received materials because you hold an “Investor Claim” against the receivership estates of Retirement Value, LLC and/or Hill Country Funding, LLC, referred as the “Receivership Estates”, established by order of the 126th District Court of Travis County, Texas (the “Court”) in the case captioned State of Texas v. Retirement Value, LLC, et al., Cause No. D-1-GV-10-000454.
Argo Partners has indicated an interest in acquiring Investor Claims in the Receivership Estates.
Argo Partners is an investment firm with over 25 years of experience. We specialize in purchasing potential future cash flows of distressed, often insolvent entities. You can learn more about Argo Partners by visiting our website at www.argopartners.net.
The Receivership Estates arise out of an investment scam allegedly perpetrated by Retirement Value, LLC and their principals, among others. The Texas Attorney General petitioned the Court for injunctive relief, restitution, disgorgement of economic benefits, receivership and other equitable remedies at the request of the Deputy Securities Commissioner acting under the authority of the Texas Securities Act and the Texas Deceptive Trade Practices Act to, among other things, ensure that investor funds were accounted for, conserved and returned to investors. The Court appointed Eduardo S. Espinosa (the “Receiver”) as Receiver for Retirement Value, LLC and others in May 2010, and since that time, the Receiver has worked to recoup as much as possible from Retirement Value’s assets and principals. Subsequently, the Receivership Estates of Retirement Value, LLC and Hill Country Funding, LLC were consolidated by the Court for purposes of maintenance and distribution of assets. The Receiver has been administering the Receivership Estates’ assets in accordance with the Plan of Distribution adopted by the Court on July 20, 2012.
You hold Investor Claims against one or more of the Receivership Estates. These are described in the Plan of Distribution as claims arising out of the delivery of funds to Retirement Value, LLC, Hill Country Funding, LLC, or their respective agents, for the purpose of purchasing or attempting to purchase participations in a certain investment program sponsored and sold by Retirement Value, LLC or an investment issued by Hill Country Funding, LLC, as applicable.
Argo Partners is interested in purchasing Investor Claims on a first come, first served basis, subject to due diligence and execution of mutually agreeable documents of transfer.
You should have received three documents:
· A Bid Letter;
· A Form of Assignment, Transfer and Notice of Ownership Change (“Assignment Form”) that you must complete in order to sell your Claims; and
· This FAQ sheet.
If more Investor Claims are tendered than we have indicated interest in purchasing, we will acquire Investor Claims on a FIRST COME FIRST SERVED basis. We may later expand our interest.
We are interested in purchasing your Investor Claim at 15.5% of your Total Investor Claim. The bid percentage presumes that you have received and will retain prior distributions made by the Receiver on account of your claim, the last of which would have been made in or about April 2016. After taking into account these prior distributions made by the Receiver, the bid equates to approximately 18% of your Outstanding Investor Claim.
We will pay the purchase price in cash, and payment will be made within 7-10 business days, subject to the conclusion of our due diligence process.
No. You will not have to pay brokerage commissions or similar expenses.
Responses to our bid letter which include a duly completed and executed Assignment Form must be received no later than April 30, 2020, at 5:00 p.m., New York City time, unless we extend the deadline. You should not assume that we will extend this deadline.
To sell your Investor Claims, you must complete, sign, notarize and deliver the appropriate Assignment Form prior to the deadline set forth above.
The Assignment Forms may be emailed to Tradingdesk@argopartners.net. If delivering by mail please send to:
12 West 37th Street, 9th Floor
New York, NY 10018
If you are signing the Assignment Form in an individual capacity, the Assignment Form is all we would need. However, if your Investor Claim(s) are held in an individual retirement account (IRA) you should note that only the IRA custodian can execute an Assignment Form in connection with the Investor Claim. Execution by the beneficiary will not be valid.
You should also note that the Investor Claims are not certificated. You do not have to submit any certificate representing your Investor Claims.
No. Investor Claims may be sold in whole or in part. The Assignment Form allows you to specify whether you want to sell the entirety of your Investor Claims (100%) or a smaller percentage of the Investor Claims you hold. If you submit an Assignment Form without specifying a percentage of the Investor Claims you are selling, to the extent your offer to sell is accepted, you will be deemed to have sold all (100%) of your Investor Claims.
If you decide not to sell your Investor Claims, you will be unaffected by the Bid or Argo Partner’s purchase of any other Investor Claims.
If you still have questions or require assistance, you may contact Argo Partners at:
Telephone: (212) 643-5442
Toll Free: (888) 643-7477