Path America G

Securities and Exchange Commission v Path America, LLC et al.

Michael A. Grassmueck is the court-appointed Receiver of Path America. Updates and general case documents related to this case are available below. 

Main Path America page


Answers to Frequently Asked Questions about the SEC Path America Receivership

What is a Receiver?
A Receiver is an individual appointed by the United States District Court as a neutral party to assume control over assets that are the subject of a dispute. As in this case, the District Court provides instructions in the form of a Court Order concerning the Receiver's various responsibilities, duties and tasks. Here, Mr. Grassmueck was given control of all of the assets of Path America, LLC; Path America Farmer's Market, LP, several other entities and their affiliates (collectively, the "Companies"). The Order Appointing a Receiver calls for the Receiver to marshal and preserve assets and to pursue claims to recover and preserve funds, assets and property of the Companies. The Receiver makes periodic reports to the Court. In the end, the Receiver will ascertain the amounts owed to each creditor and investor and distribute the recovered assets, if any, to creditors and investors in accordance with an order from the Court.
接管人是谁?
接管人是由美国联邦地区法院委任的接管争议资产的中立方。在这里,联邦区域法院以判决的形式指定了接管人的各种责任,职责和任务。Grassmueck先生被委以美国之路有限责任公司,美国路农贸市场有限合伙人,其他几个实体及其子公司(统称"公司')的资产的控制权。该"任命接管人令"要求接管人追回并维护资金,资产和公司的财产。该接管人向法院定期报告。最后,接管人将确定欠每个债权人和投资者的数额,并根据从法院的命令分配收回的资产,如果有的话,给债权人和投资者。

Has the Receiver identified and located all of the Companies' assets?
The Receiver has identified, seized or taken control of all known assets. The Receiver is continuing to investigate and work on a forensic accounting which may reveal other assets.
接管人是否已经认定并定位所有的公司财产?
接管人已经确定,扣押或控制所有已知的资产。接管人会继续调查,并继续法务会计这项可能揭示其他资产的工作。

Why was the Receiver appointed?
The SEC has alleged that the Companies and Mr. Lobsang Dargey engaged in acts, practices and courses of business that violate federal securities laws. The SEC's complaint (which is also available on this website) alleges that the defendants have made material misrepresentations regarding the funds' activities. No final determination has been made with respect to the SEC's allegations. The Receiver was put in place by the Court to preserve the existing assets while the SEC's litigation is pending. As Receiver, Mr. Grassmueck has been put in control of the businesses and all of their assets. The TRO and PI call for the Receiver to marshal assets and perform all acts necessary or advisable to preserve their value.
为什么接管人被任命?
证交会声称,公司和洛桑达奇先生的行为,做法和商业行为违反联邦证券法。美国证券交易委员会的起诉状(在本网站上可见)称,被告对基金运作做了重大误报。美国证券交易委员会的指控尚未坐实。在美国证券交易委员会的诉讼审理期间法院任命接管人来保护现有资产。作为接管人,Grassmueck先生被委任控制企业及其所有资产。该临时限制令和初步禁令要求接管人整合资产并执行所有必要或者合理的决策来保护公司的价值。

How do I contact the Receiver?
If you have questions or concerns, you should write the Receiver at the following address: PO Box 230091, Tigard, OR 97281. You may also communicate via email through this website. The Receiver's telephone number for this matter is 503-294-9928. The website will also be updated regularly to reflect significant receivership events. The best way to stay informed is to periodically check the website.
如何联系接管人?
如果您有任何问题或疑虑,你应该写致信接管人于以下地址:PO Box 230091, Tigard, OR 97281.你也可以通过本网站的电子邮件进行通信。接管人就此事开通的电话号码是503-294-9928。该网站也将定期更新,以反映显重要接管事件。了解最新实况的最好方法是定期检查网站。

Can I write off my investment loss?
The Receiver cannot give tax or other legal advice. You might want to give a copy of the SEC Complaint to your accountant or tax advisor and seek their advice.
我是否可以申报我的投资损失?
接管人不能给予税收或其他法律咨询。你可能想把美国证券交易委员会投诉状交给你的会计师或税务顾问,征询他们的意见。

Will I be receiving periodic distributions?
At present, the Receiver has determined that no periodic distributions will be made, pending future developments in this case. At some point in the future, the Receiver will seek court approval to make a distribution.
我是否将收到定期的(资金)分配?
目前,接管人已经确定除非未来事态发展需要,不会定期分配(资金)。在未来的某个时刻,接管人将寻求法院批准进行分配。

Do you have an estimate of what percent of our original investment may be returned to us in the form of a distribution?
It is simply too early to make such an estimate. It appears that investors and creditors have unpaid principal in excess of $105,500,000.00. Accordingly, for example, in order for the Receiver to return 50% to noteholders, he would need to recover at least $52,750,000.00 net of expenses to distribute this sum.
你估计我们原始投资的百分之多少可以以(资金)分配的形式还给我们?
现在做这个预测还为时过早。看来,投资者和债权人有超过$ 105,500,000.00未付本金。因此,打个比方说,如果接管人要返还50%至票据持有人,除去费用他将需要收回至少$ 52,750,000.00净值才能做这样的分配。

How do I file a claim?
If and when assets are recovered and there are funds in the receivership estate which are available for distribution, a claims process will be established per a Court order. As a first step in this process, creditors and investors will receive a proof of claim form.
我该如何提出索赔?
如果当资产被回收,被接管实体还有财产而可供分配的资金,索赔过程由法院的命令来建立。作为这一进程的第一步,债权人和投资者将收到的申请表证明。

Is a full list of investors who invested in the Companies available for public review?
No.
有可公开的所有投资人的完整列表吗?
没有。

Can we get more real time update on your website?
The Receiver is filing periodic reports with the Court and this website will be updated whenever there is something substantive to report.
我们能不能在你的网站得到更好的实时更新?
接管人定期提交法院报告。每当有什么实质性的报告本网站将被更新。

Are the principals of the Companies subject to any criminal action?
The Securities and Exchange Commission's lawsuit is a civil case. The Receiver has no responsibility or authority to prosecute criminal actions. Such matters are handled by the criminal authorities.
公司的负责人是否涉及任何刑事责任?
美国证券交易委员会的诉讼是民事诉讼。接管人没有责任或权力起诉犯罪行为。这些问题由刑事部门处理。

Can we sue the Companies?
No, the Securities and Exchange Commission lawsuit stayed actions against the Companies. This was done to give the Receiver time to locate and marshal the assets.
我们可以起诉(接管人所接管的)公司?
不,美国证券交易委员会的诉讼暂停对公司的诉讼。这样做是为了给接管人时间来定位和整合资产。

Who does the Receiver work for?
The Receiver is a neutral and totally independent party. The Receiver is essentially an agent of the Court and works on behalf of or for the appointing Judge. The Receiver reports to the Judge by filing reports and motions. The beneficiaries of the Receiver's work are all of you, the investors and creditors. Some investors have expressed the mistaken notion that the Receiver is adversarial to them. This is absolutely not so. It is just the opposite of that.
接管人为谁工作?
接管人是一个中立的,完全独立的一方。该接管人本质上是法院的代理人,代表法官或者受法官指派做事。接管人以提交报告或者动议的形式向法官报告。接管人工作的受益者是各位投资者和债权人。一些投资者错误地表示接管人的立场与其对立。这绝不是事实。实质正好相反。