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Net Equity

We know how anxious everyone is to receive information about this case and we will provide more information soon from the attorneys about the process and what BLMIS investors can expect. The entire hearing on March 3 will be very short, and most likely will be less than one hour. The Victims’ lawyers will get 10 minutes, the Trustee will get 8 minutes, and SIPC will get 8 minutes to present their oral arguments. The arguments will be made primarily, therefore, via the briefs that have already been submitted (many are available on our website – click here), and the chances are good that the judges will have been well versed on the information contained within those briefs prior to oral arguments. While the hearing is scheduled to begin at 10AM, the actual time is dependent upon what cases precede this one and their length. It is unknown at this point how long it will take for the three member panel to render a decision – several attorneys are surmising perhaps three months or more.

It is also important to keep in mind that the decision that is rendered in this court is unlikely to be the final word. The Trustee has made fairly obvious his intent to continue to pursue this case if it does not go his way, as we expect our side will as well. In any case, this is another step – and important one, for sure — but not the final one for either side.

Again, we will post something shortly from the attorneys that will be more thorough. Thanks for your patience….

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