On April 27, 2010 the Receiver filed a motion requesting Court approval of a process and procedures for creditors to file and have claims determined. On April 29, 2010, an Order Granting Receiver’s Motion for Order Approving (i) Claim Filing Procedures, (ii) Claim Form, (iii) Claim Bar Date, and (iv) Form and Manner of Notice Thereof was entered by the Court (the “Claim Bar Date Order”). Among other things, the Claim Bar Date Order established a deadline of June 30, 2010, by which creditors must file a claim form with the Receiver, or be forever barred from receiving a distribution from the receivership estate. On April 30, 2010, the Receiver mailed notice and claim forms to all known creditors and parties of interest. The notice and claim forms provided creditors with notice of the need to file claims in order to share in any distribution to creditors and provide instructions to creditors as to how proofs of claims should be completed, and where claims are to be filed. On November 2, 2010, the Receiver filed its Motion To Set Claims Bar Date for Certain Governmental Entities. The order entered by the court established December 10, 2010 as the last date that certain omitted governmental entities could submit claims.
As of the Claims Bar Date, 1,042 proofs of claim had been filed with the Receiver which claims represent approximately $85 million of total debt.
The Receiver has received 67 proofs of claim from claimants alleging that North Pacific Group, "NPG", sold drywall imported from China that is alleged to be defective (“Chinese Drywall”). The Chinese Drywall Claims have been filed as “unliquidated” and do not specify a dollar amount claim. The Chinese Drywall litigation involving NPG is complex and includes the class action multidistrict litigation. In addition, the State of Louisiana has filed a claim for an “unliquidated” amount for all expenses and losses incurred and to be incurred by the State, parishes, cities and other local subdivisions in connection with the inspection, testing, removal, disposal and replacement of defective Chinese Drywall in Louisiana.
Starting in July, 2010, the Receiver and its staff began the process of reviewing, auditing and reconciling filed claims to the books and records of NPG. The Receiver has identified a number of disputed claims and liens during the claims review process. The Receiver has filed certain Omnibus Objections following the claim objection procedures approved in the Claim Bar Date Order. The Receiver intends to have all disputed claims determined as soon as reasonably possible so that a distribution may be made to creditors pursuant to an approved Distribution Plan.
1. Allowed Claims:
a) Order Establishing Allowed Amounts For Certain Unsecured Claim - February 22, 2011
2. Omnibus Objections to Claims:
a) Reclamation Claims:
1. Receiver's First Omnibus Objection to Reclamation Claims - November 19, 2010
2. Order Granting Receiver's First Omnibus Objection to Claims as to NonResponding Reclamation Claimants - February 28, 2011
3. Order Granting Motion to Approve Settlement of Certain Reclamation Claims Subject to Receiver's First Omnibus Objection to Reclamation Claims - May 9, 2011
4. Order Granting Settlement of Weyerhauser Claims - June 2, 2011
b) Agricultural Produce & Grain Producer Lien Claims:
1.Receiver's Second Omnibus Objection - Agricultural Produce & Grain Producer Liens - February 4, 2011
2.Order Granting Receiver's Second Omnibus Objection as to NonResponding Agricultural Produce and Grain Liens - March 30, 2011
4.Order Approving Settlement with Agra Canex - June 30, 2011
5.Order Approving Settlement with Belle Pulses - June 30, 2011
6.Order Approving Settlement with McDougall Acres Ltd. - July 18, 2011
7.Order Approving Settlement With Spokane Seed Company - August 9, 2011
c) Certain Employee Claims:
1. Receiver's Third Omnibus Objection To Certain Employee Claims - March 14, 2011
2. Order Granting Receiver's Third Omnibus Objection - Certain Employee Claims As to Nonresponding Claimants - May 9, 2011
3. Order Granting Receiver's Third Omnibus Objection - Certain Employee Claims As to Nonresponding Claimants[Claim #245] - July 8, 2011
d) Certain Miscellaneous Claims:
1. Receiver's Fourth Omnibus Objection - Certain Miscellaneous Claims - April 5, 2011
2. Order Granting Fourth Omnibus Objection - Certain Miscellaneous Claims - June 2, 2011
3. Order Approving Settlement with McGladrey Capital Markets, LLC - August 22, 2011
4. Order Approving Settlement with Central States Pension Fund - August 22, 2011
5. Receiver's Fifth Omnibus Objection - Certain Miscellaneous Claims - September 6, 2011
6. Order Granting Receiver's Fifth Omnibus Objection to Certain Miscellaneous Claims - October 17, 2011