On June 19, 2018, the Trustee served materials in connection with its motion returnable June 26, 2018, which provides, among other things, an update on developments in these proceedings since the date of the Appointment Order and to support the Trustee’s request for an order (“Stabilization Order”). In support of the Trustee’s request for the Stabilization Order, the First Report describes the following matters:

(a) background information concerning BDMC and its business;
(b) the Trustee’s activities to date;
(c) the need for certainty with respect to funding of these proceedings, including BDMC’s projected cash flow until October 31, 2018 (“Stabilization Period”);
(d) details regarding funds held in bank accounts maintained by BDMC, including funds received by the Trustee following its appointment, and the Trustee’s proposed use of such funds during the Stabilization Period; and,
(e) the need for collective representation for the Investors.

Copies of the materials filed on June 19, 2018, including the Trustee’s First Report, are available below.