To be eligible to receive a distribution, a creditor must file a proof of claim with the Assignee within the statutory period of 180 days (July 12, 2019). After liquidation of estate property and payment of administrative claims, the Assignee will distribute funds to creditors based on their relative priorities. The priority of creditor claims is set forth in Section 727.114 of the Florida Statutes.
Please note that Texas Capital Bank (the “Bank”) asserts a lien on all of the assets of Laser Spine Institute and related entities. Accordingly, the Assignee has no access to funds, except for some funding provided by the Bank for the wind-down of the estates. Distributions to unsecured creditors will depend on, among other things, the amount of money recovered by the Assignee from unencumbered assets and the amount of the claims entitled to priority status. It is simply too early in the case to estimate the availability and amount of any distribution. The Assignee will provide updates on potential recovery as the case evolves.