SMALL BUSINESS CAPITAL CORP. RECEIVERSHIP
Thomas Seaman, As Receiver

SEC vs.  SMALL BUSINESS CAPITAL CORP.; MARK FEATHERS; INVESTORS PRIME FUND, LLC; and SBC PORTFOLIO FUND, LLC;

CASE NO. 5:12-CV-03237-EJD

 

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA

SAN JOSE DIVISION

HONORABLE EDWARD J. DAVILA, PRESIDING

 
HOW TO CHANGE YOUR MAILING ADDRESS TO RECEIVE DISTRIBUTIONS
Changes to a creditor’s mailing address for purposes of receiving distributions can only be made by emailing your new mailing address and contact information to the Receiver by clicking here.  The Receiver will then update the official list of creditor contact information.  Official creditor information is not stored on this website or edited by changing your email address.


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If you wish to be notified by email of updates to the web site and other important announcements from the Receiver concerning this receivership, then please sign up by entering your email address above.  A pop up screen will appear which will ask you to confirm acceptance of emails.  An email will then be sent to you with a link to a simple form which will ask you for basic contact information.  This information will only be used by the Receiver and will not be sold or otherwise disclosed to third parties.  You may unsubscribe from emails at any time by simply clicking on the Unsubscribe link which will be on the top and bottom of all emails sent to you by the Receiver.

Changing your contact information on the website will not change your official mailing address with the Receiver, however.  To change your official mailing address, see the instructions HOW TO CHANGE YOUR MAILING ADDRESS TO RECEIVE DISTRIBUTIONS located elsewhere on this page.

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Not all filings in the underlying case are posted on this website.  For those people that wish the opportunity to view all Court filings in the underlying case, you may set up an account with the PACER (Public Access to Court Electronic Records) Case Locator, the national online index for U.S. district, bankruptcy, and appellate courts.  Registered users are charged a small fee for each page of Court documents which are downloaded.  Interested parties can register for a PACER account by going to:

After the user’s account has been established, registered users should click on the hyperlink
to get to the search page.  Follow the instructions on the search page to log onto PACER and search for the case records.  Search by case number:  5:12-CV-03237 or by case name or by the name of one of the parties to the case, such as, “Small Business Capital Corp”. 
 

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Thomas Seaman, Receiver for Small Business Capital Corp, et al
3 Park Plaza, Ste. 550
Irvine, CA  92614
Email the Receiver

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Website Of
Thomas Seaman, CFA
Judicial Receiver
Thomas Seaman Company
3 Park Plaza, Suite 550
Irvine, California 92614

Claims Process


HOW TO CHANGE YOUR MAILING ADDRESS TO RECEIVE DISTRIBUTIONS
Changes to a creditor’s mailing address for purposes of receiving distributions can only be made by emailing your new mailing address and contact information to the Receiver by clicking here.  The Receiver will then update the official list of creditor contact information.  Official creditor information is not stored on this website or edited by changing your email address.


MOST RECENT CLAIMS PROCESS UPDATE


APPROVAL OF RECEIVER’S OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; DISTRIBUTION PLAN
February 28, 2014:  The Receiver is very pleased to report that the Court has approved the Receiver’s Omnibus And Specific Claim Objections ([Dkt. No. 714] AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS) and Plan Of Distribution ([Dkt. No. 715] AMENDED ORDER APPROVING DISTRIBUTION PLAN AND AUTHORIZING INTERIM DISTRIBUTIONS), and has authorized the Receiver to make an interim distribution of $15 million.  The Receiver expects to issue the checks within the next two to three weeks.


NEW HEARING DATE OF JANUARY 31, 2014, RE CLAIMS OBJECTIONS, DISTRIBUTION

PLAN, AUTHORIZATION OF AN INTERIM DISTRIBUTION
On November 26, 2013, the Court entered its [Dkt. No. 631] ORDER SHORTENING TIME ON: 1) MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [re Dkt. No. 626] 2) MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORITY TO MAKE INTERIM DISTRIBUTIONS (re Dkt. No. 628).  Consequently, the previous hearing date of April 25, 2014, has been canceled and the new hearing date to approve claims objections, approve the distribution plan and to authorize an interim distribution has been advanced to January 31, 2014, at 9:00 a.m.  


MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS
November 20, 2013 update: The Receiver is pleased to announce that he has filed an Omnibus and Specific Claims Objections motion (NOTICE OF MOTION AND MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [Dkt. No. 626]; and, DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [Dkt. No. 626-1]), which recommends to the Court the amount of each claim so that the Court may establish the basis for distributions to investors and non-investor claimants. The Receiver has also filed a Distribution Plan and a motion to approve the Distribution Plan and authorize the Receiver make an interim distribution of $19 million (NOTICE OF MOTION AND MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 628]). The Receiver has been provided a hearing date of April 25, 2014. However, the Receiver is also filing an administrative motion for an order shortening time because allowing the Receiver to make the distribution of $19,000,000 sooner will significantly mitigate the losses suffered by investors. 


If you oppose the Motion, you are required to file your written opposition with the Office of the Clerk, United States District Court, 280 South 1st Street, San Jose, California, 95113, and serve the same on the Receiver. All interested parties will receive notice of these motions and the final hearing date in the mail.


REMINDER TO DELIVER COMPLETED CLAIMS FORMS TO THE RECEIVER BY MAY 10

Any person who believes they have a claim of any type against Small Business Capital Corp., Investors Prime Fund, LLC, SBC Portfolio Fund, LLC, Small Business Capital, LLC, SBC Senior Commercial Mortgage Fund, LLC, or their subsidiaries and affiliates must send a proof claim to Thomas Seaman, the Court-appointed Receiver, in order to receive a distribution from the receivership estate.  Claim forms must be received by May 10, 2013.  Claim forms cannot be faxed.  If you are sending in your completed claim form after May 6th, please use a next day delivery service to send your claim forms in order to be delivered on time.  Instructions and claim forms can be found on the Claims Process page of the Receiver's website.


CLAIMS BAR DATE SET FOR MAY 10, 2013; INSTRUCTIONS FOR CLAIM FORMS
On January 18, 2013, the Court entered its CIVIL MINUTES AFTER HEARING. The minutes include the order which approves the claims bar date of May 10, 2013, the form of the claim forms to be used, and other matters.

 
Please take notice the U.S. District Court for the Northern District of California, by the Honorable Edward J. Davila, has set May 10, 2013, as the Claims Bar Date for the submission of claims in the above-referenced case.  Any person who believes they have a claim of any type against Small Business Capital Corp., Investors Prime Fund, LLC, SBC Portfolio Fund, LLC, Small Business Capital, LLC, SBC Senior Commercial Mortgage Fund, LLC, or their subsidiaries and affiliates must send a proof claim to Thomas Seaman, the Court-appointed Receiver, in order to receive a distribution from the receivership estate.  Do not file your claim with the Court.  Send your claim form to Thomas Seaman, Receiver at 3 Park Plaza, Suite 550, Irvine, California 92614.  Claim Forms must be received by the Receiver on or before May 10, 2013, at 5:00 PM P.S.T.  If your Claim Form is not received on or before the deadline you will lose your right to receive any distribution from the Receiver or the Receivership Estate and your claim will be forever barred.  Additional information regarding submitting claims can be obtained from http://www.sbcapitalreceiver.com or you may write to the Receiver at above address.  Claims may not be submitted by electronic mail or facsimile.

INSTRUCTIONS FOR CLAIM FORM

All investors in IPF (Investors Prime Fund, LLC), SPF (SBC Portfolio Fund, LLC) and SCMF (SBC Senior Commercial Mortgage Fund, LLC) should have received claims forms in the mail by the beginning of March 2013. In order to reduce administrative costs to the receivership estate it is very important that you complete the claim form that was sent to you in the mail as it contains specific information related to your individual claim.  Click here for detailed INSTRUCTIONS FOR COMPLETING THE CLAIM FORM.

Instructions are also available on the website www.sbcapitalreceiver.com. If you have any questions that are not covered in the instructions, please email your questions to info@sbcapitalreceiver.com. Completed claim forms must be received by the Receiver by May 10, 2013. Send the completed claim forms to Thomas Seaman, Receiver, at 3 Park Plaza, Suite 550, Irvine, CA 92614.

Only if you are an investor in IPF (Investors Prime Fund, LLC), SPF (SBC Portfolio Fund, LLC) and SCMF (SBC Senior Commercial Mortgage Fund, LLC), and you have not received in the mail your investor claim form by the beginning of March 2013, then you may click here for a blank INVESTOR CLAIM FORM.

If you are a non-investor creditor (trade creditors, vendors, landlords, etc.) click here for the CREDITOR CLAIM FORM.