Procedure
The Office of the Special Deputy Receiver respects the right of claimants to assign claims. In an effort to ensure that such
assignments are valid, and that the processing of assignments does not create an undue burden on estate resources, the OSDR has
adopted the following policy regarding the processing of assignments.
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Upon receipt, the assignment instrument, and all underlying documentation related to the assignment, including
but not limited to consideration, will be reviewed to make sure they are unaltered copies, and that the documents
are signed and notarized. No portions of the assignment documentation may be obscured or blanked-out.
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The claim assignment must include an affirmation by the assignor (seller) that it has reviewed the receivership estate’s
website and is aware of the Receiver’s then-current published estimates of the amount and timing of the ultimate claims
distribution, including the Receiver’s Good Faith Estimate, if available, and of any distributions already made,. The Receiver
will not recognize the validity of any claim assignments that do not contain the written acknowledgment.
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The assignor will be contacted and asked to confirm in writing that they did indeed assign their claim to the party listed on
the document. A letter, fax or E-mail from the assignor will be accepted as a form of confirmation.
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The assignee will be contacted in writing (letter, fax or E-mail) informing them that the assignment has been received and approved
by the Receiver’s office.
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Assignments of claim will not be accepted after the distribution petition has been filed with the Supervising Court.
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For purposes of the Lumbermens liquidation proceedings, subsequent to February 13, 2024, the Liquidator will only consider
for acceptance assignments of claim paying the assignor/claimant consideration equal to at least 15% of the allowed amount
of the claimant’s Level D claim in the liquidation proceedings. If and when the Liquidator files a distribution petition with
the Supervising Court requesting approval of a second distribution at Level D, assignments of claim will no longer be accepted
after the distribution petition has been filed with the Supervising Court.
Please mail all assignment forms to:
Office of the Special Deputy Receiver
Claims Department
222 Merchandise Mart Plaza
Suite 400
Chicago, IL 60654
If you have any questions, please e-mail:
inquiry@osdchi.com
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